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The real reason why Lord Mandelson attacked Barclays bank

The very high-profile and very personal attack on Barclays bank president Bob Diamond has grabbed the headlines in many newspapers in the UK this weekend. However, there are discussions as to why Lord Mandelson chose this weekend to launch his attack, so what is the real reason behind the move? Why did Lord Mandelson choose to attack the UK banking sector yet again?

One very popular theory regarding the attack on Barclays bank is the fact that it has pushed the national insurance debate out of the headlines and taken some of the heat off the UK Labour Party. There is no doubt that the Conservatives were grabbing the attention of UK voters and UK business leaders and there has been an influence on voting polls. The very high-profile attack on Barclays bank has effectively made the national insurance debate yesterday's news and financial newspapers are moving onto the next topic.

Whether or not the Conservative party will be able to reinstate the national insurance debate as headline news between now and the general election remains to be seen, but it could form the basis of a very strong showing at the polls if they can.

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