Sunday, September 28, 2008

Cameron's Money Men

Why is David Cameron refusing to blame the bankers for the present financial crisis? Perhaps one reason is that the Tories are being bankrolled by a group of hedge fund managers who have been making vast sums of money from plunging bank shares. Channel 4 has unearthed evidence that a small group of City financiers - who have made fortunes from falling stock markets - are paying at least £50,000 a year to Mr Cameron's 'compassionate' Conservative party. These donations entitle the donors to membership of an elite supporters club called the 'Leaders Group' and are given regular access to Mr Cameron and members of the shadow front bench.

If David Cameron wants to convince us all of his compassionate and progressive credentials he should publicly acknowledge that one of the main reasons for the recent failure of the financial markets relates to the greed and moral abdication of those in the City (some of whom are close to Team Cameron) who demanded less regulation and restraint and then ended up abusing it.

1 comment:

Man in a Shed said...

Prawn cocktail offensive anyone ?

New Labour have been very close to the city. The disastrous build up of debt and reliance on foreign money supplied all happened under Brown's watch.

Now its bad politics for Labour to admit this and we'll hear a lot about the global economy and the US sub-prime funding scandal, but the asset bubble for housing and the ruinous debt happened here - on Labour watch. Why was Brown so in favour of light touch regulation and castrating the Bank of England in his first week ?

Of course there's a good point about individuals giving lots of money gaining influence - like that over paid children's author or the number of people who gave over a million who are now in the house of Lords ( which party was that ?). But that doesn't happen to one party. All the three main parties have hedge fund / financier type backers - and within the law why not. That's why it took the SNP to kick of the cash for peerages investigation.

Who are you trying to convince here - yourself ? Easier just to hate Cameron than to admit the real state of the country and politics.