They hope the City will uphold standards? Since when
The White House has issued a pointed statement declaring it hopes and expects the UK will use its influence to ensure that high standards of governance are upheld in a new Chinese-led investment bank that Britain is to join.
In a rare public breach in the special relationship, the White House signalled its unease at Britain’s decision to become a founder member of the Asian Infrastructure Investment Bank (AIIB) by raising concerns about whether the new body would meet the standards of the World Bank.
The $50bn (£33.5bn) bank, which is designed to provide infrastructure funds to the Asia-Pacific region, is viewed with great suspicion by Washington officials, who see it as a rival to the World Bank. They believe Beijing will use the bank to extend its soft power in the region.
Hahahahahahahahaha. Be more worried about the Brits.
Oh look
The City of London’s status as a favourite place for the world’s dishonest officials to hide stolen money will remain a stain on the UK’s reputation, despite a long-awaited government anti-corruption plan expected on Monday , according to a formerregulator who is now an MP.
They just cant help themselves
Here’s the basic announcement:
The Serious Fraud Office’s investigation into the Bank of England’s crisis-era liquidity auctions is believed to relate to a £180bn funding scheme that was ended by the BoE in 2010.
The SFO confirmed on Wednesday night that it had launched an investigation after the Bank handed it the results of an inquiry launched in the summer and conducted by City barrister Lord Grabiner
The fraud office said the investigation concerned “liquidity auctions during the financial crisis in 2007 and 2008”.
Not just any old Bank, but the UK's equivalent of the FED.
Libor
Forex
Tax dodging
There is nothing on this planet that the "City" does not like.
Britain’s elite criminal agency is planning a crackdown on money laundering in the City of London that is expected to lead to the arrest of lawyers linked to the movement and washing of billions of pounds of criminal proceeds.
This has
filtered into the whole mentality of London
The bill concerned the City of London Corporation, the local-government authority for the 1.2-square-mile slab of prime real estate in central London that is the City of London. The corporation is an ancient, semi-alien entity lodged inside the British nation state; a "prehistoric monster which had mysteriously survived into the modern world", as a 19th-century would-be City reformer put it. The words remain apt today. Few people care that London has a mayor and a lord mayor - but they should: the corporation is an offshore island inside Britain, a tax haven in its own right.
Asking the British Bankers and their lackeys the British government to ensure that high standards of governance are upheld is a bit like expecting sharks to become vegetarian if you throw bloody red meat into the tank.
If I were in the White House I would be more worried that the British bankers would show the Chinese some new tricks in deviousness.