Evil Diaries: Justice in prospect at last

Late last week the US Court of Appeal decided to reverse the guilty verdict handed down to a Mr Connolly for Libor-rigging. This means that should the UK follow suit and reverse the original sentence dished out to Tom Hayes a major injustice will have been attended to. I need hardly add that HMG will then have to pay out a huge sum to Tom by way of damages.

I would add that the next august alleged fiddler is the Bank of England for its conduct in 2008 when directly asking for “low-balling” reports of interest rates to increase the credit ratings of banks operating in the City. This should come out in a few weeks.

Readers who have a spare few minutes may wish to look at the Clyde and Co opinion which emerged over the weekend. It is pretty shocking: https://www.clydeco.com/en/insights/2022/01/the-great-libor-divide

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Orosur (OMI) have reported this morning and all is well. I still think that there is every reason to expect a bid from one of the two major holders in the Anza project. I would think that that will leave OMI decidedly higher. As against that the Brazilian tin mining project could drain a lot of cash before it turns cash flow positive. I of course may be dead by then.