Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Barclays executive at the centre of the Libor interest rate-fixing scandal last night said he had only passed on "instructions" from a conversation he had with his then boss Bob Diamond.
In potentially explosive testimony to the Treasury Select Committee, Jerry del Missier, right, who quit last week as chief operating officer along with the Barclays chief executive Mr Diamond, said: "He (Mr Diamond) said he had had a conversation with Mr (Paul) Tucker at the Bank of England. (He said) the Bank of England was getting pressure from Whitehall about the health of Barclays and that we should get our Libor rates down. That we shouldn't be outliers."
The 50-year-old Canadian's testimony appears to contradict Mr Diamond, who told MPs there was no instruction from the Bank and that he did not intend to relay one.
Mr del Missier said: "I passed the instruction as I had received it on to the money markets desk. I relayed the contents of the conversation I had had with Mr Diamond and expected the Bank of England's views would be incorporated into Libor submissions."
Challenged on the point he said: "It was an instruction, yes."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments