Barclays Bob did not excite the crowds with revelations of smoke-filled rooms where Labour politicians and greedy bankers conspired to 'fix' anything and everything. The array of pompous faces, preening before the cameras for a political CSI, must have been deflated by Bob's new slogan: don't blame the bankers, tar the traders and pillory the pols.
Osborne has clearly aimed both barrels at the Labour party with a timely reminder of their involvement in 'touch the light paper and stand well back' regulation. The socialists are rattled: a bit spare to call the potential involvement of Labour spads and ministers in Libor fixing "desperate" and "frenzied". They have been wheezing about a judge-led inquiry all day, as if Parliament is not mature enough to put them all on display and ask some questions. Enough to make them squirm....
At the moment, every Labour politician has denied involvement. If this turns out to be incorrect and Tory spads are scouring Treasury memos for a smoking gun, then I would not be banking on Labour to surface from this scandal without damage.