"Asked whether sufficient safeguards exist to prevent those in positions of power from misusing market-sensitive information, Bailey said there was a "very clear" legal framework for dealing with potential breaches and that it was appropriate for the Mandelson allegations to be handled by law enforcement. He also stressed that the focus should remain on Epstein's victims, asking: "How is it that we live in a society that this happened and was allowed to happen?""
"Bailey appeared visibly emotional as he reflected on images showing Mandelson alongside Darling during the crisis period. He described Darling as someone who acted with "honesty and decency" while helping to steer the UK through one of the most severe financial shocks in modern history. " Alistair Darling was doing all the right things," Bailey said. "He was doing them with a thorough sense of integrity, and he can't speak for himself today, sadly." Darling died in November 2023 aged 70."
The Governor of the Bank of England described revelations that Lord Mandelson leaked sensitive government information to Jeffrey Epstein during the 2008 financial crisis as shocking and welcomed a police investigation. He contrasted the alleged actions with the conduct of the late chancellor Alistair Darling, praising Darling's honesty, decency and integrity while steering the UK through the crisis. He noted a clear legal framework exists to address market-sensitive information breaches and said law enforcement handling was appropriate. He emphasized prioritising harm to Epstein's victims and questioned how such abuses were allowed to occur. The disclosures said Mandelson kept Epstein informed about plans to cap bankers' bonuses and sought Treasury intervention, triggering the probe.
Read at Business Matters
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