Cabinet Secretary Jeremy Heywood privately raised questions about Libor and its setup during the 2008 financial crisis, according to a newly released series of emails between him and Bank of England (“BOE”) deputy governor Paul Tucker, who is also testifying before Members of Parliament today. Obtained by freedom of information requests, the emails show correspondence between Tucker and the cabinet secretary as well as correspondence between Tucker and Bob Diamond.

The emails written by Heywood doesn’t reveal Libor rates being manipulated downwards in any shape or form, but he does show concern over borrowing rates in US Dollars and sterling and over high Libor rates. In one particular email, Heywood asks Tucker if Libor is high because “Barclays are bidding it”, and Tucker replies that he is monitoring the situation.

Further, emails between ousted Barclays CEO Bob Diamond and Tucker reveals that:

“In one email to Diamond, dated 25 October 2008, Tucker writes in the subject field “Struck that your [government guaranteed bond] was issued at around 140 [basis points] over gilts”. In the body of the email, Tucker just writes “that’s a lot”. Diamond replies by offering to meet Tucker.

This email was sent just days before a note of a discussion between Tucker and Diamond that was discussed by MPs on the Treasury select committee last week when Diamond sent an internal email on 29 October 2008 detailing a conversation with Tucker. The email led to some confusion in the bank about whether the central bank was encouraging Barclays to cut its Libor submissions although when he appeared before MPs Diamond insisted he did not believe this to be the case.”

This information would have been quite useful to the inquiry last week, especially as Bob Diamond took the stand, and has driven MPs to consider contempt of Parliament:

“The information released today would have been critical for the Diamond meeting last week. They would have understood the urgency of the request and this clearly displays their contempt of the Parliamentary process,” said Labour MP John Mann.

Story is HERE. Emails between Tucker and the cabinet secretary can be found HERE. Emails between Bob Diamond and Tucker can be found HERE.

The central bank that is the Bank of England doesn’t want to get involved in this crime scandal in any way, shape or form, because once the BOE gets implicated, every Rothschild/Rockefeller central bank gets on the hook too, because the money system was basically centered in large part around Libor rates. However, as more information emerges, then the inevitable becomes more apparent.

It’s inevitable that all the megabanks get on the hook, as well as their respective gangster central banks.