25 March 2009

Myners is likely to fall on his sword

The saga of what Myners knew when about Goodwin’s pension is coming to the boil Sir Tom McKillop, the former chairman of Royal Bank of Scotland, is to write to the Treasury Select Committee today giving his version of events.  Interestingly McKillop requested to be recalled to give evidence but this was turned down.  No surprise as John McFall, the committee’s chair, is close to Brown.

There is little doubt that McKillop will contradict what Myners said last week.  The point here is what do McFall and his chums do then?  If the letter is not published it will surely leak, causing further damaging headlines for Myners and Brown, giving this story further traction.

If McKillop’s letter is fatal for his Lordship my guess is that Myners will be hung out to dry.  Brown will not want this saga to run and run with the G20 next week and and the budget in a few weeks.

It looks like ‘the Government of all the talents’ will have to soldier on without this banker turned politician who has never heard of due diligence.

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