It was unedifying, it was behaviour unacceptable in a playground, but behind the ferocious accusations lay a determination for self-exoneration as the implications of the most recent City scandal become clearer. It will be serious indeed if it is proven that ministers, or the Bank of England, condoned or encouraged unethical practice or more even if it was to ameliorate a desperate banking crisis in 2008, and I suspect that there may soon be such evidence: truth will always out, and there are grounds for fear.
The defensive arguments among our elected leaders about process and past history relating to the Libor debacle, and, today, Lords Reform and boundary changes, demonstrate forcefully how self-centred they are. These matters concern major constitutional reform as well as a potentially devastating undermining of public trust at a time when the weight of world debt is unsustainable, but our politicians seem more concerned about their reputation and the next election than resolving serious issues of state with gravitas and good intent for the common good.
Because it has become a political football, an already hasty Inquiry by a parliamentary committee of factionally-driven men and women who are amateurs in evidence extraction and examination seems unlikely to carry great authority, even before it has been assembled. In view of the importance of its role, this is a pity, but is a sign of our times.]]>