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 Am Incorrigible
Defrauding Families in the UK
The following story about overcharging at private care homes appeared on page 2 of yesterday’s Daily Mail – before the announcement of the ‘snap election’:
Similar Strategy in the US
This story has many similarities to the US Department of Justice’s investigation into US Health Insurer United Health’s pilfering of the American public purse in its Medicare programme.
The man who ran the Medicare programme when UnitedHealth allegedly overcharged the American taxpayer by hundreds of millions of dollars was Simon Stevens – current head of NHS England.
According to his current LinkedIn Profile, Stevens was Chief Executive Officer, UnitedHealthcare Medicare between 2006 – 2009
His CV goes on to say:
America’s leading seniors health company, with $30 billion revenues and serving one-in-five Medicare beneficiaries nationwide in partnership with AARP – the world’s largest voluntary organization. Launched the largest Medicare Part D benefits plan, also managing the largest Medicare-focused PBM.
Here’s a screenshot from LinkedIn:
Conflict of Interests
So if Simon Stevens knew about the multimillion dollar fraud cases that took place on his watch – did he declare or disclose any of this to Secretary of State for Health, Jeremy Hunt, or to NHS England?
It is now in the public interest for all correspondence between Simon Stevens, NHS England and Jeremy Hunt prior to his 2014 appointment to be made public.
Stevens advised the Department of Health and Blair throughout the period when the NHS was using PFI to build hospitals. So he basically aided and abetted the bankruptcy of the NHS and now looks to be finishing off the job.
This ought to be an election issue. I hope Shadow Health secretary John Ashworth raises this conflict of interests during the campaign.
Can such an individual be trusted to look after the NHS?
If the UK votes for Brexit, Dr Liam Fox, the disgraced ex-Defence Minister responsible for getting the UK involved in conflict in Libya and Syria before being sacked for Cronyism in 2011, could become Prime Minister.
Is this really happening?
Fox & NHS
Tory Leavers now openly refer to Brexit as being our best chance of saving the NHS from privatisation.
But research has shown that most of them have big money invested in private healthcare firms.
Fox is a well known Thatcherite along with his colleagues John Redwood, John Whittingdale, and Oliver ‘Privatising the World’ Letwin.
Brexit & TTIP
TTIP is bad for the NHS as it is designed to open it up to US Health Insurance firms.
And the European Central Bank (ECB) and the European Commission are heavily captured by the City of London Corporation. Liam Fox is right to say that it doesn’t look as though they will change path.
But it would be very dangerous to put the Brexit camp in charge of the country.
The fact that Fox thinks the City of London Corporation and the EU are not Neo-Liberal enough is a fair sign of what he has planned for the NHS.
Attempting to reform the undemocratic EU from within will be hard – but much easier than negotiating with Fox.