'The Yanks are trying to stitch up the City'

Quote of the day: 'I think it's a concerted effort that's been organised at the top of the US government. I think this is Washington trying to win a commercial battle to have trading from London shifted to New York.' John Mann, a member of Parliament's finance committee, has criticised the 'anti-British bias' coming out of the US in recent weeks.

by Rebecca Burn-Callander
Last Updated: 19 Aug 2013
First, Barclays was targeted for its part in the Libor-rigging scandal, he says, then HSBC was hung out to dry for alleged money-laundering. Yesterday, Standard Chartered became the latest British bank to fall foul of US regulators. 'Disproportionate publicity is given to British banking problems as opposed to American,' he says. 'This is a political onslaught'.

Find this article useful?

Get more great articles like this in your inbox every lunchtime