Hey, what is all this hoorah anyway? 1) the Libor is just an average of guesses: "At what rate could you borrow funds, were you to do so by asking for and then accepting inter-bank offers in a reasonable market size just prior to 11 am?” It does NOT ask "at what rate DID you borrow funds" but at what rate COULD you borrow funds 2) The banks reporting their guesses to Thompson-Reuters have no legal requirement of accuracy and no duty of care to them or to the British Banker's Association 3) The banks, arguably, do have a duty of care to their own shareholders. If reporting a high rate might damage the company or its profitability, reporting a,guess at the low end of your possible range might be defensible.
The fact that a whole bunch of people rely on these guesses is their own fault. Caveat emptor.
Of course, it might also have something to do with the government initially asking for 2,000 security staff - then increasing that to over 10,000 with little notice. Or that they government has drafted in troops because it decided it now needs 17,000.
But reporting that would go against the narrative that the government and the Olympic Comittee is blameless: it's all GS4's fault.
You've heard of "Disgusted, Tunbridge Wells"? Well, I live in Holland Park and I've Had It. Up to here! An old curmudgeon, I rant and rave about things I read, see or hear in the News. Frequently sarcastic, irreverent and libertarian; often wrong - but never uncertain.