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Monday, July 09, 2012

The Diamond and Tucker Emails Obtained By Sky

Mark Kleinman of Sky has just Tweeted this:
"EXCLUSIVE: I've obtained emails between Bob Diamond, Paul Tucker and Jeremy Heywood ahead of TSC session this afternoon. Full story soon."
"Email from to in Oct 08: “struck that your [government guaranteed] bond was issued at around 140 over gilts… That’s a lot”."
Also Faisal Islam is tweeting:
"Email Oct 22 2008: from Paul Tucker to Bob Diamond, and Jon Varley: Subject: "Cld I talk to one or other of you about libor pl...

Email from Tucker to Diamond/ Varley: cont: "Sorry to bother you but I think mark d is away. Its a slightly sensitive point Thanks Paul...

So having read the emails, 1. clear that Tucker had serious concerns about libor from 22nd and Barclays funding from 23rd/24th oct 08.

2. Intriguing that Bob Diamond and not CEO Varley replies to Tucker when concerns first expressed

3. On 24th Oct 08 (week before Abu Dhabi capital inj) Tucker asks for meeting to understand where Barclays got its pre crisis funding from."
To remind Barclays and others who intend to commit fraud of what I advised some days ago, if you are intending to commit fraud do not communicate your intentions to others via email, texts or other electronic media.

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