Corrupt Money Launderers HSBC bankrolled David Cameron and George Osborne’s trip to the World Economic Forum in Davos in 2009, it has emerged.
The controversial lender lent the gaffe-prone billionaire bookie and former Tory Treasurer Michael Spencer £200 million pounds just a day before the massive Iceland Crisis that wiped billions of pounds off the balance sheets of many UK Local Authorities.
Many of these cash strapped Local Authorities had invested in Iceland because of advice given to them by one of Michael Spencer’s firms — Butlers.
Shortly after getting a £200million bailout from HSBC and narrowly avoiding bankruptcy because of the Iceland debacle (unlike his local authority clients), Spencer donated a million pounds to the Tory party.
It was around this time that Spencer’s holding company IPGL paid for Cameron and Osborne to fly to Davos by private jet.
This revelation is all the more galling given that Cameron and Osborne are known to have shaped regulation to favour HSBC and Spencer’s ICAP and torpedoed investigations into both firms both in the UK and the USA.
Some anti-corruption researchers and campaigners raised this issue with the HSBC board at the Bank’s Annual General Meeting (AGM) in London on Friday but were sidelined.
The Canary have run a piece on the scandal which has received zero pick-up in the mainstream press.
For more info on Spencer read this article by the excellent I am Incorrigible :
I came across Transatlantic Aliens in the bookshop today.
The blurb referred to the cultural contribution made by Europeans who moved to the US in the 1930s and 1940s.
By looking at how celebrated outsiders such as Theodor Adorno, Simone de Beauvoir and Vladimir Nabokov experienced American life, Will Norman celebrates their transformation of alienation into novel ways of interpreting the modern world.
Given President Trump’s recent Executive Order indefinitely banning all refugees from Syria from entering the US, the book — which came out in October — couldn’t be more relevant.
This is an excellent blog post by author Will Norman on the need to not demonise foreigners — written just days after President Trump won the 2016 US Election:
Norman starts by saying, “These are dark days for Cosmopolitanism.”
Dark days indeed.
Theresa May told the Conservative Party conference in October that a Citizen of the World is a Citizen of Nowhere.
Following Amber Rudd’s speech about naming and shaming firms who hire too many foreign workers — the Pound dropped like a stone.
One interpretation of Cosmopolitanism is that the Cosmopolis, the world state, is an ideal state in which citizens must live their lives regardless of local constraints. This is a morally driven universe which comprises of international solidarity above all else.
I do not feel this is Mrs May’s interpretation. Although English Culture is itself a mix of so many influences, the incorporation of habits, customs and languages from around the world makes the PM squirm.
In Mrs May’s worldview, the more that Cosmopolitans feel they have in common with outsiders, the more readily they distinguish themselves from fellow British citizens and the less loyalty they show.
Tory donor Lord Ashcroft commissioned a study into the US election which referred to Cosmopolitan Activists — 25% of whom are less than 24 years old — the majority of whom believe in gun control, government regulation, green energy, same sex marriage, immigration, multiculturalism, social liberalism and feminism.
There are so many contradictions in what our politicians now say that there’s no fun in spotting inconsistencies.
Now that they’ve lost power, maybe here are two former Chancellors whose words we can actually trust.
Here is George Osborne on how the Government has prioritised controlling immigration over the economy:
And Ken Clarke on how Enoch Powell would have been surprised that the Tory party is now ‘mildly’ anti immigrant:
Where do we go from here?
I hope there is more public participation in the debate surrounding the terms of Brexit.
If not then commission hungry lobbyists will run the show and sell Britain into feudalism for a fraction of what it is really worth.
The British Parliamentary system is not equipped to override inherent conflicts of interest – if this isn’t fixed immediately this will lead to Britain’s downfall.
How to solve such a problem?
Strategic Noise. We have an accountability problem. Certain people are getting away with passing lots of favourable legislation because there is no independent scrutiny or oversight.
Better reporting of parliamentary, local government and international affairs would do a lot to warn people of what is coming in a structured way that allows for organised civil responses that go beyond attending protests.
The Government is well equipped to rely on and perpetuate bureaucracy – the rest of us need to start catching up.
Too many people are keeping their knowledge to themselves.
The more we know about what is actually happening up and down the country and about the political process the more we can more meaningfully get involved.
Will political parties suddenly adjust to allow new ideas?
Or will they do what they can to protect the status quo?