The arcane world of US politics has once again collided with British sensibilities, this time over the sordid Epstein affair. Pam Bondi, the former Florida Attorney General, has clammed up tighter than a gilt-edged bond in a rate hike during a congressional hearing on the Jeffrey Epstein case. Her refusal to answer questions about the handling of the investigation has sparked outrage across the Atlantic, where British MPs are now demanding a cross-border inquiry into UK-linked victims.
Bondi’s stonewalling is a masterclass in market obfuscation. She deployed lawyers’ jargon like a trader hedging against volatility, leaving the committee with nothing but promises. The hearing was supposed to shed light on why Epstein’s initial 2008 plea deal was so lenient. Instead, it felt like a central bank press conference with no rate cut in sight.
The British response has been swift. A cross-party coalition of MPs, led by figures with more fiscal discipline than a balanced budget, is calling for a joint task force. They argue that Epstein’s network spanned continents, and the UK is a key node. Victims with British connections have been left in the dark, their trust in the system as eroded as the pound during a sterling crisis.
This is not just a moral outrage. It is a matter of capital flight. If the US legal system is seen as opaque, wealthy investors might look elsewhere. The City of London knows that trust is the invisible currency that greases the wheels of finance. Without it, you get a liquidity crunch in the justice system.
The market for truth is volatile. Bondi’s silence has increased the risk premium on US credibility. British MPs are essentially demanding a forced disclosure, akin to a regulatory intervention. Will the US comply? History suggests that cross-border inquiries are rare, much like sustained low inflation. But public pressure is mounting, and the cost of non-compliance could be high.
For now, the hearing has ended with more questions than answers. But the British demand for an inquiry is a call to action. It says that the bottom line is not just about money. It is about justice. And in the long run, justice is the best investment you can make.
