February 22nd, 2011

Guardian Invested Millions in Hedge Funds During Banking Crisis
Editor Rusbridger on Board Which Approved Strategy

Earlier this month the Guardian front paged a story revealing that the City of London accounted for £11.4 million of the Conservative Party’s funding in 2009 – 10, in lurid terms we learned of the millions passed to Tory coffers by rich hedge fund managers. Guido can reveal that during that same period the Guardian Media Group’s coffers gained £39.3 million from investments in hedge funds. More than three times as much as they castigated the Tories for taking from hedgies…

GMG owns the Guardian and Observer newspapers, where journalists and columnists rail against the City, hedge funds and the short-termism of pin-striped financial traders. Documents obtained by Guido reveal that the GMG board approved investments now totalling £223.8 million in speculative funds in a range of assets. Alan Rusbridger, editor of the Guardian, sat on the board which approved the hedge fund investment plan, the board was at the time chaired by Paul Myners who also sat on the board of GLG partners, a hedge fund which is widely reported to have made big profits shorting UK banks.

The funds are traded by a number of specialist fund managers, overseen by the giant U.S. based asset manager Cambridge Associates. Cambridge Associates is a secretive, privately held firm with a client list which includes billionaires and government sovereign wealth funds. Guido has discovered that the £223.8 million is invested in emerging markets, bonds and hedge funds. The investments are principally in US Dollars and offshore from the UK.

In the small print of GMG’s 2009 Accounts

These short-term funds are in addition to the GMG assets held in Cayman Islands domiciled corporations where the rate of corporation tax is zero. Sources suggest that GMG has between £300 million and £500 million held offshore in these opaque special purpose vehicles. Such tax haven domiciled corporate vehicles are used to shield assets from tax. Guido has discovered that one GMG controlled Caymans corporation was incorporated as recently as March 2008, a mere 5 months before the banking crisis wreaked havoc on the global economy.

So far GMG has ignored embarrassing questions posed since the winding up of the old Scott Trust. What Guido and many confused Guardian readers would like to know is how the use of these opaque investment vehicles is compatible with the public positions taken by the newspapers and even members of the board. Will Hutton for example is a former editor of the Observer who sits alongside Alan Rusbridger on the board of the Scott Trust Foundation. Is Hutton, a noted campaigner against hedge funds, comfortable with GMG having hundreds of millions in assets both offshore and invested in hedge funds? Are the perennially loss making Guardian newspaper’s columnists like Polly Toynbee happy to have their six-figure salaries paid out of the profits of hedge fund raids on the currencies of emerging market countries? Isn’t it about time the Guardian’s senior executives explained openly and honestly to its readers how it really survives despite losing money every year?


  1. 1
    jgm2 says:

    You’ll wait in vain for a UKUncut demo outside the Gruaniad.

  2. 2
    Polly says:

    A Girl has to pay for the upkeep of her Villa in Tuscany somehow.

  3. 3
    BaggPussy says:

    Why don’t you go on the street – £5 a throw?

  4. 4
    jgm2 says:

    I’m betting her own tax affairs are very tax-efficient too.

  5. 5
    Negotiating down says:

    I’ve only got a bag-full of coppers. Will that do?

  6. 6
    Tom Tomos says:

    But at least their crossword is still free!

  7. 7
    Polly Toynbee's left lip says:

    Guido you rock!!! Great how you expose the great hypocrisy of the Lefties.

  8. 8
    sceptic says:

    what a surprise to see the guardian doing so well out of the crisis….fucking hypocrites

  9. 9
    Anonymous says:

    What more can we say?

    Hypocrisy = it’s in their D-N-A

  10. 10

    Maybe that’s why she won’t put her money were her mouth is and voluntarily do what he wants the state to force us to do: publish everyone’s tax returns.

  11. 11
    BaggPussy says:

    Time to start a Cairo-style uprising? I bet Polly and all the other lefties would order the Army to open fire.

  12. 12
    Anonymous says:

    You have to buy the paper first ?

  13. 13
    PeeJay says:

    Well done Pablo.

  14. 14
    Righty Right Wing (Mrs) says:

    I am sure the BBC has a team of crack investigative journo’s on this right now Guido.

    Not that the Conservative front bench will appreciate your efforts attacking this bastion of left wing hypocrisy.

    I am sure they are all avid readers of Polly et al, judging by their demeanour & policies.

    Continuity Labour out.

    Blue Labour out.

    Rusty liberal Dave Cameron – out, out, out.

  15. 15
    Windsock says:

    The Guardian is not a political party campaigning to be in Government. The Conservatives were. It could be argued the hedge funds were investing in the Tories to buy policy, whereas the Guardian were investing in hedge funds to finance a business.

    I hold no torch for the Guardian – it is inconsistent, hysterical, childish and sometimes facile – but you are comparing apples and bananas.

  16. 16
    Alan in-the-money Rusbridger says:

    We’ll soon fix that.

  17. 17
    Tacitus says:

    The difference is that the Guardian isn’t state owned – the banks are! Furthermore, the Guardian isn’t trying to run the country – the Tories are. Don’t get me wrong, I’m not defending the Guardian – but let’s not pretend the Tories are squeaky clean do-gooders.

  18. 18
    Billy Blofeld says:

    Great work Guido……….

    …….. all that we need next is the deafening silence that will accompany this from UKuncut, The Guardian and BBC.

  19. 19
    BBC News Editor says:

    This is not a story that will interest our stake holders.

  20. 20
    Anonymous says:

    Err, no.

    The Guardian would smugly ‘expose’ this kind of behaviour if anybody else did it.

  21. 21
    Hugh Janus says:

    More ammo for the next time Littlejohn and Toynbee are on QT together….

  22. 22
    Guess who says:

    A leading Liberal Democrat MP has been accused by an election rival of having sexual intercourse with a 14-year-old girl, a court heard yesterday.

    The 66 year-old also claimed that the MP for Portsmouth South also shared a bed with children after flying to Romania on charity work. Southampton magistrates’ court heard.


  23. 23

    Inheritance taxes in Italy are almost non-existent. The idea of tax avoidance doesn’t exist; all have accountants whose purpose is to actively seek minimal payments of unavoidable tax, and to seek out means of attracting allowances and grants from any publicly available funding, particularly the EU.

  24. 24
    Joe Soap says:

    Dick !!

  25. 25
    Yob says:

    This must be the end for the Guardian’s Editor, right?

  26. 26
    Hugh Janus says:

    I believe he was. Wasn’t he also the numbskull who nodded through the obscene pension for Fred the Shred? Yet another brilliant decision by a Liebour minister.

  27. 27

    Good work Guido, but surely no surprise?

    You have to be very rich, not moderately so, to be able to afford to be a socialist.

  28. 28
    Sir William Waad says:

    Meanwhile, in Libya, something important is happening.

  29. 29
    Super Zuffle says:

    I would aim lower…… two grains of rice and a marble!

  30. 30
    Up sh1t creek says:

    If they made themselves a multinational, they could pay even less tax then they already claim to. So glad there are all those small businesses being crippled to prop up these poor multinationals asked to pay tax.

  31. 31
    Banana Man says:

    the Guardian isn’t state owned – the banks are!


    Really? Only Northen Rock is owned by HMG.

  32. 32
    Engineer says:

    I used to wonder about this phrase ‘stake holder’ until I saw a couple of blokes planting small trees. Then I understood.

    Do the BBC plant a lot of trees, then?

  33. 33
    Steve Miliband says:

    Biggles is addressing the nation from his milk float

  34. 34
    Hugh Janus says:

    “Witnesses tell of seeing Hancock in bed with children in Romania. Mr Hancock went on to retain his seat with an increased majority. He was also re-elected as a Portsmouth city councillor. ”

    The people of Portsmouth and Southsea are obviously very discerning folk. Presumably then something like a murder or two would have resulted in a complete Landslide for Handycock??

  35. 35
    Sir William Waad says:

    “….now totalling £223.8 million in speculative funds in a range of assets.”

    Er – not quite right, if you read the little excerpt above.

    Clue 1: ‘Managed Funds’ are the sort of quite conservative investments you might put your savings into, if you wanted high costs and rather shoddy returns.

    Clue 2: ‘Short-term funds’ means ‘cash deposits’.

  36. 36
    tory boys never grow up says:

    You seem to forget that the Guardian supported the Orange Tories during the election campaign. Good to see that Guido is now a supporter of the hedge funds are evil campaign, and will presumably be pushing for the UK govt to gold plate the original EU directive on hedge funds as well as stepping down on tax avoidance by private equity and hedge fund managers. Or is this just a tactic to divert attention away from the big fish?

  37. 37
    Steve Miliband says:

    Expect it to be like Cif on here anytime now.

  38. 38
    Muammar Gaddafi. says:

    Nothing is happening – NOTHING!

  39. 39

    Managed funds speculate too.

  40. 40
    Grown up Tory says:

    You seem to have missed the point

  41. 41
    Boris says:

    “Here we are, in one of the most depressed towns in Southern England, a place that is arguably too full of drugs, obesity, underachievement and Labour MPs.”


  42. 42
    Sir William Waad says:

    Actually the only difference in the new tax rules appears to be that foreign branches will be treated the same as foreign subsidaries. This may save UK multinationals the bother of forming a separate company in each country but otherwise doesn’t change much. Boring but true.

  43. 43
    Mandy says:

    Anyone call?

  44. 44
    Steve Miliband says:

    I thought they worked in the kitchen at a Gastro Pub?

  45. 45
    Sir William Waad says:

    The headline states that the Grauniad invested £223.8 million in hedge funds. This is untrue.

    The text elides hedge funds with managed funds. This is misleading.

  46. 46
    Anonymous says:

    And there’s only 10% in cash deposits.

  47. 47

    A prime example of ignoratio elenchi!

    Well done Tacitus.

  48. 48
    BBC says:

    It will be given the coverage it deserves across the full range of our outputs. ie buried.

  49. 49
    Time to stop and think,tea time! says:

    Nah,People got fed up of being called punter,so the lefties figured out,stake holder would confuse them while they fleeced them.

  50. 50
    Maddamar Qaddaffi says:

    I’ve bombed the rebels into submission ! Is it still raining ?

  51. 51
    Hugh Janus says:

    I am pleased to see the words “depressed towns”, “underachievement” and “Liebour MPs” in the same sentence. Many a true word spoken in jest.

  52. 52
    Mandy says:

    Spoken like a true Guardian reader. Well said.

  53. 53
    William Hague says:

    I wish someone would tell me what IS happening. I made a right Tit of myself yesterday when I said Gaddafi was on a plane bound for Venezuela. Then old mad dog appears on the box showing that he is still in Libya. I want Chris back as my SpAd.

  54. 54
    Anonymous says:

    It’s possible to cover more than one story at once?

  55. 55
    P. Doff says:

    Welcome back Billy.

    Oh, and back to the topic… what twats and Hunts… other than that, words fail me!

  56. 56
    MI5 says:

    Great stuff Guido

    You have destroyed the credibility of the Guardian


    Or if they have

    Come on Polly Twaddle…

    Coming out from hiding in your millionaire’s paradise !

    Or( we will be obliged to think that you are a fraud

  57. 57
    oink says:

    So, they are all in it together

    I suppose now is the time to ask why these rich, arrogant elites don’t just kill off the rest of us so they can more easily carry on their tyranny

  58. 58
    sockpuppet #4 says:

    How does one know the difference between an opaque investment vehicle and a ponzi scheme ?

  59. 59
    Headmaster says:

    Spelling tests in Libya must be a nightmare to mark.,

  60. 60

    Except that Tacitus committed the ignoratio elenchi.

    Wake up Mandy! It’s gone 11, you know.

  61. 61
    Gordon Brown says:

    I squeezed it so hard a piece of cheese came out

  62. 62
    Anonymous says:

    I guess it depends if you get your profits out in time. Like the Guardian did.

  63. 63
    Bernie Madoff says:

    That’s what I kept telling the shleps!

  64. 64
    Edward Balls says:

    I squeezed mine so hard it looked like Polly Toynbee

  65. 65
    Ed Milliband says:

    i don’t think i have one

  66. 66
    Engineer says:

    There is a pressure group by the name of Ukuncut who are campaigning against what they see as the evil of tax avoidance. They have taken action against the likes of Philip Green and Barclays. Should they also target GMG?

    Guardian journalists can’t have it both ways. They use their columns to criticise the practice of tax avoidance by other corporations, whilst taking their salaries from a company that practices tax avoidance. Some see this as hypocricy.

  67. 67
    don't scrap those Nimrods or the ark Royal just yet. says:

    Kin L! Are we that short of aircraft or Big shps? I’m sure Dave said the french would help out if needed.

    Italy, Greece and the Netherlands are sending transport planes to Libya to get their citizens out. Austria and Portugal have already done so.

    UK nationals have been told to take commercial flights from Tripoli.


  68. 68
  69. 69
    Pollys Loverly says:

    They even have their own tax avoidance section:


  70. 70
    sockpuppet #4 says:

    While we’re at it where exactly does the 39 million figure come from.

    The number for how many “other assets” they have has indeed gone up by 39 million, but is it perfectly clear where that money came from? It could have even been shuffled from other categories couldn’t it. (ie if you sell a building, that money might end up in this category).

  71. 71
    sockpuppet #4 says:

    Come on.

    I’d rather travel in one of those special boats to italy than go on a nimrod. Perhaps better than ryanair though.

  72. 72
    P. Doff says:

    Or semen in that particular MP’s case!

  73. 73
    William Hague says:

    •There will be no British Airways flight from Tripoli to London on 22 February. Commercial flights are available from Tripoli airport. However, the majority of airport offices in Tripoli are closed until further notice. We advise British Nationals who wish to leave Libya but cannot purchase tickets online to travel to the airport carrying sufficient cash to buy tickets. Problems with internet connections in Libya mean that electronic payments may not be accepted.


    So, Billy boy, if people can’t buy their tickets on line and the ticket offices in the airport are shut and BA isn’t even flying to London. How the flying fook do you expect UK peeps to get a commercial flight back home?

  74. 74
    Anonymous says:

    The £39m comes from subtracting 2009’s worth from 2010’s.

    Oh, and ‘cash’ isn’t ‘available for sale’ so suspect this is a proper investment as well?

  75. 75
    Denounce the Guardian says:


    The outrageous hypocrisy goes even further than you say

    The pontificating journalists at the Guardian are beinng paid out of profits from the hedge funds

    But those profits are coming from speculating in oil, commodities and the basics for which the “poor” and indeed every citizen in the UK are being charged…

    So Polly & co’s salaries are being paid in the back of British workers…

  76. 76
    Super Zuffle says:


    Must try harder

  77. 77
    Denounce the Guardian says:

    on the back of British workers

  78. 78
    jgm2 says:

    Funny thing is that you’ll suddenly see Guardianistas and Labour apologists becoming balance sheet experts as they try and explain why their tax-efficient structure is quite the right thing to do but will immediately revert to headline grabbing half-truths, bare-faced lies and misinformation when they’re looking to embarrass their political opponents.

  79. 79
    Teabagger says:


  80. 80
    jgm2 says:

    No silly. Because it’s the Guardian this immediately becomes the ‘means of production being owned by the workers’.

    If you I or do it then it’s capitalism and bad. If they do it then it’s socialism and for the common good.

  81. 81
    Denounce the Luvvies says:


    It is never ending FFS

    All these fucking “do gooders” like the Amnesty ladies who do good to themselves big time with hundreds of thousands of £ in salary (plus expenses) before anyone else

    Who the hell do they think they are ?

    The unacceptable face of capitalism ?!

  82. 82
    Time to stop and think,tea time! says:

    Oh FFS,it’s like watching 4year olds arguing over who broke a vase , you did it, no you did it ,no you did it because I saw you do it, stop being so fcking tribal, Labour, LibDems and the Conservatives are so close if they were 3 companies they would be selling the same goods to people, the only thing that differs is the PR.

  83. 83
    Ed Bollokov ( Son of Brown, Deficit-Admirer-in Chief ) says:

    WTF ????!!!

    Apparently, Tim Geitner, the U.S Treasury Secretary says he is ‘very impressed’ with George Osborne.

  84. 84
    jgm2 says:

    Do stop whining Mackerel Boy. You’re just embarrassing yourself.

  85. 85
    Tom Tomos says:

    We should take to the streets for a “day of Reggae”. Keep singing those freedom songs.

  86. 86
    Ted Grimley, taxidermist to the quality says:

    They all need stuffing.

  87. 87
    Time to stop and think,tea time! says:


  88. 88
    Ali al-Zawahiya says:

    So the Conservative Party and the Guardian are as bad as each other. A plague on both their houses.

    Viva la revolucion!!

  89. 89
    Ted Grimley, taxidermist to the quality says:

    They are selling the same goods to people. Let’s take to the streets and, as we’re British, er, become mildly irritated and grumble a bit.

  90. 90
    Predictable Labour diversion operation swings into action says:

    He’s an American. We can ignore everything he says because they started the Iraq war and Bush was their president and they’re right wing like the T*ries and…

  91. 91
    T.B£iar - the People's Messiah says:

    Come up and join me and my very good friend Al Saif here atop the very heights of the moral high ground.

  92. 92
    Katabasis says:

    There is simply nowhere for the left to turn now other than complete and utter denial.

    The hypocrisy on display is nothing short of reality-bendingly mind-boggling.

  93. 93

    The key thing in all this is that the new media are able to ask searching questions of ‘old media’, who have had a privileged position for decades in dishing it out but are now themselves subject to unrelenting tough scrutiny.

    As usual, it boils down to the Sanction of the Victim. You’re oppressed until the moment you decide you won’t accept it any more. Libya, Guardian, fake charities. All wobbling precariously…

  94. 94
    Displeased of Tonbridge says:

    After you.

  95. 95
    Gordon Brown says:

    Am I still in charge or is it one of the Ed’s? I bet it it’s the good looking one!

  96. 96
    Anonymous says:

    Failtroll is fail.

  97. 97
    tell it like it really is says:

    I say the Guardian and the bbc are political parties in that they are acting as proxy arms of the labour party – by their actions shall you know them.

  98. 98
    Anonymous says:

    By a mile.

    But then, that’s the mark of the Looter, isn’t it.

  99. 99
    Anonymous says:

    You are perhaps over-estimating the importance of the Guardian?

  100. 100
    Ed Miliband says:

    The Guardianithtas are my friendth. I will defend them with, with – er – all thortth of thingth, you thee if I don’t!

    (Waits for applause. Not a sausage).

  101. 101

    Filthy capitalists, everywhere, filthy filthy scum. When I’m in power, as NUS President, I’ll lobby to make sure that The Guardian is under COMPLETE state control (assuming that the Socialist Workers Party gets into power – which they will because I will rule all other parties illegal.


  102. 102
    Bled White Taxpayer says:

    OK, I’ll bite.

    Guido, listen up. You are a fat Oirish drunkard ex-bankrupt grinding axes in all of the wrong places.

    Did that get deleted?

  103. 103
    jgm2 says:

    Just when I thought you’d got that ‘Caps Lock’ key fixed.

  104. 104
    Down with Brown! says:

    Rather than sending any money to the EU this year, the UK should be sending the money to Christchurch, New Zealand, the most pro-British place outside the UK.


  105. 105
    Gordon Brown says:

    The torys are the party of the few, we are the party of the many!

  106. 106
    Annnoyperson says:

    87 = deluded nitwit.

  107. 107


  108. 108
    Annnoyperson says:

    But they’d say “please open fire”, which makes all the difference, of course…

  109. 109
    Sir William Waad says:

    Support the Myners!

    Ain’t this the same Paul Myners who did a sweetheart deal with the banks in 2008, ensuring that they would get all our money and that our grandchildren would be sold into slavery to pay for their blunders, but that we would get bugger-all in return?

  110. 110
    Phil says:

    Awesome. Simply awesome.

  111. 111
    Annnoyperson says:

    Yes, just ask anyone who was sold an Equitable Life Pension!

  112. 112

    I will be a democratically elected leader. Delegates from University Student Unions get to vote. They’re usually left wing activists (the most democratic of all the people).

    While the electronic resources exist to allow ALL students to vote we MUST NOT let this happen. The delegates are more democratic.

  113. 113
    Dick the Prick says:

    Can’t really tax the mafia, especially when capo de capo is in charge!

  114. 114
    Bled White Taxpayer says:

    Unfortunately, the words at the end of the article are “Mr Cummings told police he believed the statements to be ”100 per cent true”, but had no documentary evidence to prove it.”

    He’ll get away with it, I’m sure. On the other hand, if the magistrate were to believe the witness statements despite a lack of physical proof, then surely it would become a police investigation instanter, and require the slimy Russki lover to stand down immediately?

  115. 115
    Porkie Pie Pickles says:

    LOL… The Middle East is alight. The Cock is desperately trying to raise his international profile, while stocks plummet and oil prices rocket.

    Within 12 months the whole Middle east will be run by fundamentalist nutters, – yet The cock has already ruled out any form of intervention….sit back at your peril. £1.60 a litre by the end of April….And Guido’s input. Jacqui Smith TV programme, and GMG, a Guido campaign story that no one gives a fig about.

  116. 116
    Annnoyperson says:

    That’s steak holders!

  117. 117
    Annnoyperson says:

    Well put, Engineer! People like Windsock seem unable to get it.

  118. 118
    Anonymous says:

    Form a queue, and take a thermos.

  119. 119
    Annnoyperson says:

    the Guardian isn’t trying to run the country

    Really? You think?

  120. 120
    Time to stop and think,tea time! says:

    If were only here to be sucked dry of any monies we have for the EU, what gives you the hope that our NZ cousins will get any help from these money grabbing ,lieing politicians who seem to want to throw every penny we have at the EU gravy train.

  121. 121
    Anastasia Romanov says:

    Anyone with any connection to The Guardian or The Observer is a master of hypocrisy.
    Today, those rabid, foaming-at-the-mouth republicans Jonathan Freedland and Polly Toynbee, have been paid by the licence-fee payers to front a programme on Radio 4 about Royal weddings.
    I look forward to Radio 4’s programme on the Holocaust produced and presented by by neo-fascists.

  122. 122
    Billy Boy. says:

    It looks like a few of them may be stranded overnight till we fix something up. In the meantime Can I suggest they share hotel rooms to save some money.

  123. 123
    Alpha Romeo says:

    A postal vote I presume.

  124. 124
    Bled White Taxpayer says:

    There is a report in the Arab press that the runways at Tripoli International were torn up overnight by pro-Gaddaffi people (or loyalists in the Army), in order to stop foreigners leaving, thus becoming unwilling hostages who had conveniently herded themselves to the airport. I don’t know if it is true. Al Jazeera is also carrying the report now.

    That could complicate matters.

  125. 125
    Annnoyperson says:

    Mr Cummings makes allegations of sexual wrong-doings. With a name like that…

  126. 126
    Hark at Her!!! says:

    The article isnt about hedge funds you moron, it’s about hypocrisy.

  127. 127
    Time to stop and think,tea time! says:

    You can’t have your money back, as Guido’s headline banner covers all known twists and turns.

  128. 128
    BOB CROW says:



  129. 129

    Labour – Microsoft
    Tories – Apple
    Lib Dems – Rolodex

  130. 130
    jgm2 says:

    He’s winding you up.

  131. 131
    jgm2 says:

    You should stick to the anonymous insults mackerel boy. When you try arguing you sound like even more of an incoherent whiner.

  132. 132
    Annnoyperson says:

    The Gruaniad has Poncy schemes, rather than Ponzi schemes.

  133. 133
    DANGER says:

    Cambridge Associates a “secretive asset manager”? On the contrary, I have always found them to be rather nice. They do an asset-allocation job that is not dissimilar to that done by everybody else.

    Also, they are a firm of consultants, not asset managers. As far as I know they don’t actually manage a penny.

  134. 134
    Penfold says:

    Hypocrisy is the stock-in-trade for Guardianista’s.

    Why should they apologise, after all Lenin had his Rolls Royce, Stalin also.

    BUT Guido, will the media size on this information and seek to make the Guardianista’s look like the two faced bastards that they are, of course not, as they’re all at it.

    You can but make the information public and hope a sufficient number of monkeys see the data and continually harp, and shame the Guardian, which will be difficult as they are a shamless bunch of swine.

  135. 135

    No comrade. Student unions elect random delegates with no commitment to any slate\candidate and then they and go and vote for these. DEMOCRACY!!!

  136. 136
    Yarnesfromhorsham says:

    Guido Guido Guido,credit where credit is due, they have to make money somewhere and its certainly not by sellings newspapers.

  137. 137
    jgm2 says:

    The Middle East is alight?

    And we’re doing exactly the right thing. Leaving them to it. Have you learned nothing from Iraq?

    So petrol goes up in price. So use less. Turn down your heating. Wear a hat. Fuck ‘em. Let them drink their oil and eat their fucking sand.

  138. 138
    Engineer says:

    Here’s a blank sheet of paper, Ed. It’ll get you started.

    (Yes, I know it’s a sheet of Andrex. You might find it more use than the Basildon Bond.)

  139. 139
    Engineer says:

    Don’t forget to demand free beer for the workers. If you can find any workers in the NUS, that is….

  140. 140
    jgm2 says:

    The Middle East is alight?

    And we’re doing exactly the right thing. Leaving them to it. Have you learned nothing from Iraq?

    So petrol goes up in pr*ce. So use less. Turn down your heating. Wear a hat.

    Fuck ‘em. Let them drink their oil and eat their fucking sand.

  141. 141
    Bled White Taxpayer says:


    There, fixed it for you.

    Of course, the other route to the economic system being completely fucked would have been to have voted in a Labour Government last May, to finish the job Gordon started in 1997.

  142. 142
    Annnoyperson says:

    Nah! Let’s blame that MacMillan chappie!

  143. 143
    Windsock says:

    No, people like me are not comparing the Guardian to other businesses, we are comparing it to the Tory party, which is the comparison Guido makes in his first paragraph. Wilful stupidity on your part is self-defeating.

    Engineer – I don’t disagree with you. See my previous paragraph and post.

  144. 144
    Katabasis says:

    I don’t think we can underestimate its symbolic importance, especially as cheerleader of the #ukuncut campaign.

    As if people aren’t annoyed enough at students occupying banks, as soon as they find out about the Guardian’s complete hypocrisy they’re likely to turn off of the issue completely.

  145. 145
    Time to stop and think,tea time! says:

    Yesterday was a good windup up, today it’s just noise amongst all the other noises.

  146. 146
    Engineer says:

    Nobody minds the way they make their money, or arrange their tax affairs. It’s legal. There is a question over their willingness to ctiticise others for making similar financial arrangements.

  147. 147
    A Greenheath says:

    ‘comparing apples and bananas’ …. so which one is bent ?

  148. 148
    Bled White Taxpayer says:

    Seems to be. I know Lord Myners is still in the Lords, but did he go back to GMG after last May (he had to resign to take up the post of City Minister in 2008)?

    Wikipedia’s got a good little snippet from the Sunday Times that I hadn’t seen before:

    “In March 2009 the Sunday Times revealed that Lord Myners had been chairman of Aspen Insurance Holdings, a Bermuda-based insurance company, for five years, avoiding more than £100 million a year in tax. The Times went on to report that Myners was also chairman of Liberty Ermitage, an offshore fund based in Jersey. Besides this, Gartmore, the fund management company that Lord Myners chaired for 15 years, also ran a Jersey-based offshore business.”

  149. 149
    Hark at Her!!! says:

    That’s actually quite witty and clever, for a retard.

  150. 150
    Phil says:

    I listened to the Today programme and Davies asked the question in terms of Osbourne was cutting too fast what do you think and Geithner gave him the wrong answer. The BBC will obviously not be interviewing him again and if Cameron was also listening why the hell doesn’t he do something about this bloody miserable excuse for an impartial news service?

  151. 151
    Ctesibius says:

    I spoke to a nice lady at UK UNCUT on Saturday. Her number is 07591992825. I asked her if she would be targeting the Guardian. She told me she had no idea they evaded tax in any way, but she would like me to send her the information and they would consider it.

  152. 152
    Ure Baconscooked says:

    The party whose name is Legion.

  153. 153
    Ctesibius says:

    Call them and ask: 07591992825

  154. 154
    MI7 says:

    Why don’t they just go and work in the city instead of pushing left wing propaganda while funding there existance through right wing capatilism.

  155. 155
    Engineer says:

    Did the Guardian publish articles lamenting donations to the Labour party by hedge funds when Labour were those making policy?

  156. 156
    tory boys never grow up says:

    I wouldn’t say that the Tories would be f**cked without their leader!

  157. 157
    Mrs Faye Merritt says:

    Yes I think you can.

  158. 158

    True: on reflection, Labour – Apple, Tories – Microsoft

  159. 159
    Mrs Faye Merritt says:

    Petrol up, more inflation, less economic growth, adding to conservative woes. Thank you Libya.
    The Guardian is not the only means (if it is a means at all) by which to overthrow the current regime.

  160. 160
    Old Tory Bigot says:

    Sadly I don’t think there will be a next time.

    I’m sure Polly makes her QT appearances conditional on Littlejohn NOT appearing.

  161. 161
    Windsock says:

    That would indeed be hypocrisy Engineer, but that is still a different issue.

  162. 162
    Anti the mob says:

    An interesting take on a “live” story, yet the contributors to the comments section reduce it to a vile litany of mispelt abuse.

    Guido – the sooner you either censor anything abusive or drop the comments section altogether, the better for all concerned.

    Your blog is all the worse for the unpleasant drivel you allow.

    Letting all the aforementioned bile pass for comment, on the grounds of free speech, is simply persuading me to stop visiting your site. Free speech is a building block of any democratic society, but so is civility to each other.

  163. 163
    Kevin T says:

    End public sector job advertising in the Guardian. Stop propping up these vile, hypocritical, upper class communists.

  164. 164
    Old Tory Bigot says:

    Of course the media won’t make a fuss over it. They never turn on their own.

    Whatever their differing political affiliations, they are a brotherhood of self-serving hack first and foremost.

  165. 165
    Old Tory Bigot says:

    Yes, truly that should have come to an end years ago. It’s a fucking monopoly.

    Without the media and public sector ad revenue they’d be down the shitter. Good!

  166. 166
    stun says:

    Interesting to see that a long-standing client and investor in Cambridge is no other than Nat Rothschild.

    Who’d’ve thunk it ?

  167. 167
    Porkie Pie Pickles says:

    Hague charged £300 to get out of Eygpt. Any ideas what the going rate is for UK Expats ecscping Libya.

    PS how’s business going for Daves delegation of arms dealers to the Middle east

  168. 168
    Harry the Camel says:

    It was Myners who approved the payments for the Shred’s retirement fund.

    It was the right thing to do. Gordon told him.

  169. 169
    Harry the Camel says:

    Is Toynbee paid a salary or does GMG pay Toynbee Consultants Ltd ..?

    Same with Hutton.

  170. 170
    sockpuppet #4 says:

    If they can play their cards, you can blame current price increase on Ghaddafi.

    When the prices drop out of the inflation figures in a year or so, then they can take the credit.

  171. 171
    Harry the Camel says:

    applauth, thauthage, thurely ?

  172. 172
    Little Boy Blue says:

    Polly put the kettle on

  173. 173
    Mike Hunt says:

    Actually that Gladstone bloke was a bit of a one.

  174. 174
    Engineer says:

    Not at all. It is exactly the same issue.

  175. 175
    Milliprat the leader says:

    Yeth indeed it ith him.

    Heth wich and famouth and thupports the workerth.

  176. 176
    Lard Presclott of Bulimia, Bog Seats, Beams,Bellies,Banjos,Punches, Croquet, Pies, Jags 'n' Shags says:

    Fook off, skinny.


  177. 177
    billy the bumbiter says:

    sex with a 14 year old is disgusting – well, with a 14 year old girl is.

  178. 178
    billy the bumbiter says:

    apparently they’ve stopped drilling in Libya, but it won’t put me off

  179. 179
    Annnoyperson says:

    Petrol rationing must surely follow in the near future…

  180. 180
    billy the bumbiter says:

    lend me chucky and you can borrow mine

  181. 181
    Sand fly says:

    Can’t they take the camel train?

  182. 182
    Maurice Yeatman says:

    The Gruaniad is against tax avoidance. Parent group GMG practises it.
    The Gruaniad is against hedge funds. Parent group GMG invests in them.

  183. 183
    Anonymous says:


  184. 184
    Maurice Yeatman says:

    The Gruaniad spells The Gruaniad not Gweedo

  185. 185
    Lord Hedge-Fund of Rusbridgershire says:

    Steady on, Guido. A chap’s got to find the school fees somehow or other.

  186. 186
    Foozled says:

    UKuncut demo anytime now then? And I’m sure Polly will be appalled and tendering her resignation also? I mean she wouldn’t want to be viewed as a hypocrite surely, how can she accept money from them now?

  187. 187
    tory boys never grow up says:

    Tories – Microsoft

    So there we have it confirmation that the Tories are evil!

  188. 188
    Demon says:

    BA isn’t the only airline…Having worked there, if you want to get out there are many ways – push comes to shove buy/hire a car and drive out. FFS it’s not rocket science

  189. 189
    Demon says:


  190. 190

    We don’t have time to pre-moderate half-a-million comments a year. We have bulk clear ups now and then..

  191. 191
    Anonymous says:

    So Rusbridger, Hutton and Toynbee are hypocritical dick-heads – what will you tell us next, what bears do in the woods?

  192. 192
    Anti the mob says:

    I’m sure there’s more you could do. It seems from a cursory analysis that vocab recognition programmes could be used, as well as blocking contributors who are consistently offensive – looking through the comments on this section show several potential miscreants.

    At least make more of an effort – I hesitate to recommend your site to my son who is taking A level Politics this summer, not because he would be offended, but more because I want to encourage his interest in the political process. Telling him to look at your site would potentially switch him off the subject if he sees that the level of UK political discourse is so crude, ill informed and malicious.

    At least until he’s old enough to develop his own cynical view – something that should only be encouraged at a much older age. Let the younger generation a have some idealistic fun.

    Yours in hope, rather than expectation.

  193. 193
    Asquith says:

    Surely you’re wrong about Myners. He was a Government Minister in 2009 and would therefore have given up all his directorships.

  194. 194
    peevee says:

    I see Fawkes has cast his not so beady eye away from this…


  195. 195
    Anonymous says:

    I think it fair to say that the FO are not on top of this. They should have advised British Citizens to get the fuck out days ago. Perhaps they still believed Jack, Tony and Gordon that Gaddafi was their bestest friend EVER

  196. 196
    Engineer says:

    The problem is that much UK political discourse is crude, ill-informed and malicous – much of the politically-related comment on Twitter, for example. There is a moderation system on this site, and most of us regulars have fallen foul of it from time to time for reasons most of us can’t fathom, but I suspect it eliminates the worst of the abuse.

    If your son is 18, he’ll have heard far worse. If he intends to study politics, the sooner he learns the gradations of what passes for political debate in the UK, the sooner he’ll be able to form his own mature judgements.

  197. 197
    unablogger says:

    Who on earth reads the Guardian??

  198. 198
    Poor Bill says:

    You mean : A well fed, sociable Irishman the kind who fights back from disaster and takes on the monkeys and the organ grinders.

  199. 199
    Poor Bill says:

    4. 111

  200. 200
    Comparethemeerkatsarse says:

    Shoot eveyone in the name of equality & diversity

  201. 201
    annnnonyperson says:

    Of course, this is all legitimate as they are like the USSR nuclear bomb was to British Communists, these are the People’s Hedge Funds, so that’s all right, then!

  202. 202
    annnnonyperson says:

    111, no, it didn’t get deleted. But Guido and the rest of us are laughing at you. Your 15 minutes of fame is to play the role of a laughingstock. Keep it up, squire! You are very good at it!

  203. 203
    annnnonyperson says:

    But oddly enough Mr Rushbridger and his cohorts do not want comments on that article. Why, I wonder?

    it’s sometimes written by people with a particular axe to grind that this trust – The Scott Trust – was some kind of tax dodge. Well, in a way it was.

    It either was a tax dodge, or it wasn’t. It’s rather like saying: “We decided to steal £1,000,000 from a bank. It’s sometimes written by people with a particular axe to grind that this was some kind of robbery. Well, in a way, it was.”

    Mr Rushbridger seems unable to grasp one very simple fact. Very few people give a damn that the Scott family and the then Manchester Guardian decided to use a tax dodge to look after their own. In fact some people would find this a praiseworthy act.

    What does cause anger and ire in the hearts of many is that the figurative children of the Scott family, who ow their very employment to the creation of that tax dodge all those years ago should rail and rant against other families who use exactly the same kind of tax dodge to look after their own.

    Mr Rushbridger, it is the rank hypocrisy of yourself, Polly, etc., etc., that sticks in the craw.

  204. 204
    City of Vice says:

    Bollocks. The Guardian is the publicity arm of the Labour Party, the Pravda of the trendy lefties. It is a hotbed of Labour Party arselickers and apologists (Toynbee, Ashley, White and Co) who use the Guardian’s pages to push their ideology.

    Shame on on Cast Dave and his Blue Labour government for failing to cut the subsidy via public sector advertising that gives the paper much of its audience and financing. Failng to engage the enemy and all that…

  205. 205
    All that matters is Brown is toast says:

    Don’t you just love champagne socialists.

  206. 206
    Anti the mob says:

    Sadly I agree with you. Still there’s some satisfaction from charging at windmills, however fruitless it might be. A certain cathartic satisfaction, to get it off one’s chest…

    Yours wistfully…

  207. 207
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