Categories
News

Ofcom’s Third Annual Report on the Corrupt BBC

The UK Broadcasting Regulator Ofcom has released its annual report on the BBC. I like the fact that the BBC exists. But it is an incredibly out of touch organisation.

Even when it appears to be polished, neutral, & honest the BBC is far from impartial.

The report itself contains the word disinformation only three times.

This is highly disappointing because it is well known that the corporation worked with the government to control the coronavirus narrative.

Instead of using simple language to describe the extent to which this took place, when it happened, and why – Ofcom has let the BBC and the government off the hook by effectively saying nothing.

third-bbc-annual-report

So the UK population was repeatedly lied to and gaslit by the BBC and the government over Covid, lockdowns, and the number of deaths up and down the country, but Ofcom, the so-called regulator, has decided it is best to behave as though this myriad of lies and deception, in which it is now complicit, simply never occurred. There’s a word for this.

Ofcom’s boss Melanie Dawes’ starting salary is £315, 000 a year. She started her new job in February. Before that she had been Britain’s most senior female civil servant – permanent secretary at the Ministry of Housing, Communities and Local Government, which she took over from Bob Kerslake in 2015.

The Housing and Local Government Ministry saw savage cuts during that time.

Dawes’ husband Benjamin Brogan was Deputy Editor of The Telegraph from 2009 till 2014 before becoming Head of Public Affairs at Lloyds Bank. Lloyds received substantial state aid after the financial crisis but the Government finally sold its stake in 2017.

There are some who would say that being married to a right wing former newspaper editor turned banking lobbyist should automatically exclude anyone from running Ofcom, the national broadcast regulator. I share that view. But clearly Ms Dawes, Mr Brogan, and the corrupt former Chair of the Treasury Select Committee and Media Minister who should have known better, Baroness Morgan, saw things differently.

Morgan is a rule onto herself. She flipped from Remainer to Brexiteer in a heartbeat. One of the first things she did when Boris Johnson appointed her Media Minister in summer 2019 was to end all government pressure on Evening Standard and Independent owner Evgeny Lebedev for having sold 30% of Lebedev Holdings to the Saudi State.

Of course Lebedev had always backed Boris and a year later was rewarded with a peerage. Lord Lebedev of Hampton in Richmond Upon Thames and Siberia in the Russian Federation.

I have never previously heard of a Lord of the Russian Federation before – though Lord Barker and Lord Peter Mandelson do lobby for Oleg Deripaska.

Back to Dawes and Brogan . . .

Here are some words from Public Affairs Networking on what it means to work in “Public Affairs”

One of Brogan’s colleagues when he was at the Telegraph was Peter Oborne.

When Oborne resigned from the Telegraph in 2015 he made it clear that the paper did not report honestly when it came to covering the notorious British Bank HSBC.

Even though it was well known that much money laundering had happened through the bank, Telegraph journalists were discouraged from reporting on the bank’s activities due to fears HSBC would pull its advertising from the paper.

But Lloyds Bank, where Ofcom Boss Dawes’ husband Brogan runs Public Affairs has also been up to no good:

Not only has Lloyds defrauded its Reading business customers of hundreds of millions of pounds, but it has so far got away with compensating only 5 victims.

And who, pray, is responsible for ensuring that the government doesn’t get involved in this affair and that as little as possible of this information is communicated to the public? Benjamin Brogan, Melanie Dawes’ husband.

How Corrupt is Britain?

So not only is she being paid upwards of £300k to police broadcasters, but her husband is being paid to keep his own bank’s scandals out of the news.

Now that’s another Great British Power couple. Not sure if they have any ethics though.

Categories
News

London’s Biggest Criminal — Andrew Bailey — Hide like a Rhinoceros

Any self-respecting regulator would have walked.

But not Andrew Bailey — the corrupt head of the UK’s captured financial regulator — the Financial Conduct Authority. Not in Brexit Britain.

On the Take?

The man who’s overseen fraud on an industrial scale remains the bookies’ favourite, by some margin, to be the next Chairman of the Bank of England.


Too Big to Jail

His complacency over the ongoing Woodford scandal shows that Brand Bailey has itself become Too Big to Jail.


But could it be that the tide is finally turning?

The FCA, the Treasury, and the Treasury Select Committee have all been alerted to conflicts of interest, misselling, and fraud in Fund Management, Pensions, Local Government and Small Business but have repeatedly looked the other way.

Kent have been hit hard by the Iceland Crisis, the LOBO scandal, and now they are losing money at Woodford.

Outsourcing firm Capita’s traces are often to be found near the scene of the crime.

Retail fund manager Hargreaves Lansdown is also caught up.

But it’s Bailey who is instrumental in obstructing justice for small businesses on an industrial scale.

While banks fraudulently missold investment products to business customers which were then used to steal their customers’s assets, Bailey has done all he can to protect the criminals.

Is the top job at the Bank of England his reward?

Slack Journos

Journalists like the BBC’s Andrew Verity & James Hurley of the Times like to make out they are on the side of the defrauded small businesses.

But when it comes down to it, the language they use on social media and in their output downplays the level of fraud coming out of the FCA, the audit firms, and the banks.

To be fair, Verity works for the BBC and Hurley the Times, so there is only so far they can go.

The main work these journalists do is in deciding what to hide from the public as opposed to what to disclose.

No wonder Bailey remains the favourite to take over as Chairman of the Bank of England.

Were our mainstream journalists not so craven, Bailey would be looking at Belmarsh, not Threadneedle Street.

City Apologist

The biggest Bailey cheerleader of them all is Alex Brummer, City Editor at the Daily Mail.

Brummer writes very well on foreign takeovers.

But when it comes to Bailey, Brummer is the most corrupt.

Categories
News

Trump Era White Collar Crime: Who’s Chasing Who?

What is going on with Wall Street White Collar Crime in the Trump era?

Hedge Fund Managers Never Die

Sheelah Kolhatkar wrote an excellent article in The New Yorker this January.

Her book, Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street, is all about the way the US New York District Attorney tried to bring down Hedge Fund Manager Steve Cohen.

This from CSPAN yesterday:

You’re Fired!

It turns out that the US Attorney for the Southern District of New York, Preet Bharara, who attempted to jail Steve Cohen,  has since been fired by Donald Trump.

Washington Post Washington Post

Reaction

Bharara’s own performance as a prosecutor has prompted mixed reactions.

From praise:

To mixed:

And outright hostile:

 

This hedge fund ethics and compliance executive was also jailed by Bharara.

 

 

Reading List

For more on Preet Bharara in the New Yorker:

TV Show

The TV Show Billions is loosely based on the Hedge Fund Insider Trading Battles that creator Andrew Ross Sorkin has covered while working as a New York Times journalist, CNBC Squawk Box host and successful author.

 

This is how the show’s creators responded to Bharara’s sacking:

So what do you think is really going on?

Is Mr Trump really ‘draining the swamp’ — or just feeding the crocodiles?