S.2 of the 2006 Fraud Act makes it an offence to dishonestly make a false representation with the intention of making a gain for yourself or to cause another a loss.
I can’t see why on the face of it the traders at Barclays (and other banks it would appear) aren’t in breach of this. Obviously there will be a need to obtain evidence to support charges against a particular individual but I hope that Police investigations will now be under way to see if this is possible.
It does go to show how notice should have been taken of Lib Dem minister Vince Cable who last April was raising concerns about the wisdom of putting “casino-banking” expert Bob Diamond in charge of Barclays.
Hywel Morgan, New Road, Mytholmroyd.