REALLY BIG DEAL

Well I couldn't figure it out because never in my wildness imagination could I have dremt up this scenario and nobody's talking because on this side of the pond at least I've been asking questions in the wrong places.  It has been reported that the guys looking into this are at justice not in any of the financial groupings, and nobody in the banks will say a word.  I still haven't a clue who could have benefitted from all of this or how but the parliamentary hearings tomorrow starring Bob Diamond should be something to watch.  I'm getting up early to see if the Beeb USA is going to carry them.  The difference between the select committee over there and the clowns we have over here is that they know what it is about which they are speaking.  The also tend not to take prisoners.  Should be great theater.

Tomorrow is Independence Day (or Succession Day as I used to tell the Brits years back) smack in the middle of the week which means there aren't enough people around, being paid for what they are not doing to cause a crisis.  Makes one feel comfy, that.  Of course Euroland is alive and well but its all gone quiet over there as well.  Keep in mind that if there is any evidence of a conspiracy thing involving LIBOR the big Eurobanks will be looked at as well as they were among the quoting class.  I must admit, having had the utmost respect for the Bank of England throughout my career, I certainly hope that the reputation of that institution is not tarnished in whatever sort of a mess we find ourselves.  However, somewhere between it and the FSA (and Whithall and/or No. 10) may be the answer.  We're off on Thursday for the triplets' birthday but I intend to follow this one.  Stay tuned.