Any enquiry driven by politicians will not be seen as honest, for one the BOE is in the back pocket of politicians irrespective of the so called independence and for two. Who's to say the Con/Lib politicians aren't as corrupt as the property flipping / expense claim fiddling / I've erradicated Boom Bust (bubble blowing), cocktail party nudge nudge - wink wink "LLoyds bank purchase of Halifax" > Labour party. In fact the Cons have already proven they'll sell a bad egg as a golden egg as proven by the currency derivatives within the ring fence. Too long have politicians been wrapping banks up in cotton wool. Oh and for the "I'll hit 2% inflation target" Keynesian King, this is the final nail for a fast track BOE board shake up. What No Regulation....HA! The ones we've got are clearly bent at will. What a deceitful Mafia world we live in. They wouldn't have had to break the rules if they hit 2%, hence the reason King must go, utter failure and dishonest. So should breaking regulation have direct personal financial & criminal punishment? Is the BOE manipulating rates themselves to prop up their own interests in say Inflation Protected Gilt investments? It appears to me such a investigation needs to go deeper than a political cover up. Where's the SFO in this, are they turning a blind eye to this?
FT Article: Diamond hits back over Libor
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