The Telegraph's Damian Reece explains why today's Libor report could scupper Lord Turner's Bank of England chances

Comments

[bill]

turner was part of the problem under blair and brown.what is wrong with this country.

[Dave Hollins MBA]

The report also accuses the BoE of being asleep on the job - yet this Govt thinks that it would be a good regualtor.

[matthew fox]

The problem is the greed of the bankers, whom Osborne bailed out with Project Merlin.

Interesting point made by Douglas Keenan, a former Morgan Stanley trader, who talked about the manipulation of Libor been something that has happened for two decades.

http://www.bbc.co.uk/news/business-19203103

[Michael mcgough]

Iisn't Turner a strong advocate of the UK joining the Euro"
If he is the next Governor God help us.

[christina Speight]

The person responsible for the chaos in the banking world is Gordon Brown and his sidekick Ed Balls. [Osborne had to deal with the hand he'd been dealt) Just remind yourself of how Brown was egging them on to be more reckless just weeks before the crash .

“Over the ten years I have had the privilege of addressing you as chancellor, I have been able year by year to record how The City of London has risen by your efforts, ingenuity and creativity to become a new world leader . . . an era that history will record as the beginning of a new golden age for the City of London. . . . Britain needs more of the vigour, ingenuity and aspiration that you already demonstrate that is the hallmark of your success”.
Gordon Brown, speaking to an audience of bankers, 20 June 2007

[Within 3 months of this speech investors in Northern Rock savings were queuing to withdraw their deposits. Brown was taken totally by surprise -cs]

The fact that they lapped this up and made appointments of the wrong type of people accordingly has led to some dodgy people at the top. Lord Turner would be a disaster as he's already proved to be at the FSA.

[Derek Buxton]

Why pick another loser to head the BoE. Turner is a disaster waiting to happen, as he has shown time after time, but still supposedly sane people throw even more money at him. Unbelievable!

[Commentator]

I have never understood why Lord Turner is treated with such reverence. Like David "Two Brains" Willetts, he seems to be yet another Vicar of Bray, tacking with the prevailing wind, uttering the most conventional platitudes, making lame excuses for the abject performance of the FSA when he headed it ....and of course being a cheerleader for UK membership of the Euro which would have been a total disaster. In comparison to Turner, I suspect Mervyn the Moneyprinter will look like a farsighted champion of economic rigour.

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Fluctuations on trust and belief in this or that personnality to save and protect the economical situation in the country are like almost every matter at this level, depending on political opinion and way of action.

[Binary Options]

I have to agree with Christina Speight, in regards to Gordan Brown. Hes the Oaf that sold off all of our Gold !!! I think that explains it all.

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yet this Govt thinks that it would be a good regualtor.

[Binary Options Trading]

Amazing video, I agree the govt thinks that it would be a good regulator.
But do you think he is right? I doubt it.