Rules brought in by Ed Balls may mean banks that rigged LIBOR cannot be prosecuted

Dishonest Labour and Ed Miliband in particular, are calling for criminal prosecutions, but one Labour member, Chief Whip Lord Tunnicliffe, has had the honesty to admit Labour’s culpability in the whole banking fiasco. Ed Miliband, said Lord Tunnicliffe, is being hypocritical, because Labour failed to close the gaps in bank law.

In addition,  there are fears that  rules brought in by Ed Balls mean there can be no criminal prosecutions.  The present banking scandal is entirely Labour’s fault.

The Daily Telegraph said:  “During a House of Lords debate on the scandal, Lord Tunnicliffe, speaking for the Opposition, said: “Criminal sanctions are extraordinarily difficult   to bring about because of the burden of criminal law.

“It is fair to say though that you can’t find them in the current legislation.   And, yes, OK, it’s our fault.” He added quickly: “I hope my leaders don’t hear me say that.”

Because of this failure, it will be impossible to prosecute the wrongdoers.  Tory MP Mathew Hancock said:  ““A key member of Ed Miliband’s top team has let the cat out of the bag,  Laws brought in by Labour mean bankers hurting small businesses and consumers by fixing the markets cannot be put behind bars.”

This is appalling and absolutely typical.  Here we have yet another disaster which is the responsibility of the Labour Party, whom courageous as always, is trying to wriggle out of the whole affair.  Later Lord Tunnicliffe did a total about face and denied his earlier remarks.  Unfortunately for him, the facts bear out his earlier statement.

On BBC Question Time, whenever anyone reminds voters that the economic crisis is Labour’s fault, David Dimbleby shuts them up.  “People are tired of hearing it,” he cries, “You cannot say that!”  Oh no, David Dimbleby, it is you who does not want people to hear how badly Labour screwed up.  And now we have another reason to remind the country of that.

2 responses to “Rules brought in by Ed Balls may mean banks that rigged LIBOR cannot be prosecuted


  2. AttillatheHun

    One hundred percent a Labour fiasco. They fouled up but good like they did with everything. Ed Balls rules will probably mean the banks get off scott free.

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