IT'S ALL ABOUT TIMING

The Treasury Committee released another report on the banking crisis today which criticises the reckless gambling of the banks and the rewards for failure.

There have been several suggestions to the effect of, how dare the MPs criticise the banks when they've all got their snouts in the trough. The use of this argument could explain why The Daily Telegraph are running the MPs expenses stories now as the Treasury Committee releases its reports, to divert attention and/or to stifle criticism of the banks by MPs. I am also unaware of any member of the Treasury Committee who has been caught with their hands in the till.

We must remember that The Daily Telegraph, a Tory paper, accused George Galloway of being a friend and/or agent of Saddam Hussein in order to deflect criticism of Tony Blair and to divert public attention away from Blair's controversial adventure in Iraq. It was also one of the newspapers strongly supporting the invasion of Iraq.

Concurrently there is also the inquiry into Britain's use of, or use of information gained from, torture.

The timing of these two inquiries and the release of MPs expenses is curious, to say the least.

Anyway, the most recent Treasury Committee report further supports the use of The Fraud Act 2006 Section 4. They, the bankers, didn't know what they were doing.