A £4 million pound loan is therefore quite a large risk for a small operation like Unity to make to a near insolvent organisation like Labour. It represents nearly a quarter of shareholders funds in the event of a default. That is not sound business practise. Guido has a few questions for Ian Morrison, Director of Credit Risk & Compliance at Unity:
- What security has he obtained for the trade union members and charities who have their funds at risk?
- Has a third-party guaranteed the loan? If so, who?
- Are they comfortably within the guidelines for capital adequacy? If so, by what margin?
- How does he evaluate the enterprise risk of such a relatively large** and risky loan?
Guido is having some difficulty getting a response from Unity.
How the workers pay for Cherie’s haircuts:*Important in this context that we recall how the government gave the unions a new back door subsidy of £11 million.
**£4 million is more than UTB’s total after tax profits for 2005.
The average bottle in the cellar costs more than £18, nearly four times the price of the average taxpayer’s tipple. Us alcoholics pay £7.7 billion a year in booze tax, whilst politicians drink the best vintages at our expense. Snouts in the trough slurping up the wine…
Unlike Peter Hain, Guido paid for his boy-racer jollies out of his own pocket rather than charge it to the taxpayer. Guido’s flights and helicopters were at his own expense. Peter Hain charged to the taxpayer the £10,754 costs of his flights and expenses. There is no political justification for this, he is just enjoying himself at the taxpayers expense. No doubt he will claim some bogus “security” justification. Look at his smile in these pictures, he is laughing at you the taxpayer.
Since when has a playboy lifestyle been the chargeable expense of a minister of the crown? He should get his turbocharged snout out of the trough and pay back every penny.
See also Snouts in the Trough : Peter Hain
Hain flew in specially chartered planes to a Dublin rugby international and two Sligo motor racing events within the past year. The bill for Hain’s costly jollies comes to £10,754. Hain, a keen motorsports fan, flew with one official last October to Sligo to attend a motorsports event. The cost of this one-day trip was £2,491. In February he flew to Dublin to attend an Ireland versus Wales rugby match. Three officials went with him and the bill for the one-day trip came to £5,002. In March, he was back in Sligo again to attend another Rally Ireland event. Two officials flew with him on a charter plane for a two-day stay which cost £3,271.
The use of taxpayer-funded charter flights to attend jollies has even provoked the Conservative Party’s Northern Ireland spokesman, David Lidington: “Everyone accepts the need for Ministers to travel, sometimes at short notice, but these three trips sound like costly jollies at taxpayers’ expense.” Guido thinks Hain can get a bloody Ryanair flight to the rugby at his own expense like the rest of us.
Currently Des Smith is in denial and protesting his innocence. Guido’s advice, in the best of Catholic traditions, is that Des should make a full confession to Yates’ Operation Ribble.
Michael White is scoring the fight this morning-
The war of Prezza’s stetson is not over yet. But the political bloggers have lost the first round.
Remember, round two doesn’t start until the cowboy is running the country. Guido has seen Prezza shadow boxing, and the shadow won.
UPDATE : Boxing must be the theme of the day, this morning the wonks at the Adam Smith Institute say that Guido has John Prescott and “the government reeling on the ropes, if not down on the canvas. He has in effect taken on the role of official opposition, which is fine for the Conservatives because it leaves them free to rebuild their brand and prepare to take over. Political and media figures devour his blog every day, and it’s easy to see why. It’s compulsive reading.”
Is there any wonder why our ever so noisy politicians are silent on their dirty money problems? State funding of parties will be even worse and a reward for their crooked ways. Levy arrested, Michael Brown in jail, if the police nick a Tory we will have a full crooked set.
Will anyone, or any party stand against state funding of these crooks? Or must it be gunpowder?
Home-Pack climb down is the opener. Dave makes a crack about Blair moving home soon.
Guido cracks open the rosé.
Ming bores on about the Middle East (safely).
Michael Meacher bores on about Middle East. Takes the Hizbollah line, speaker tells him to shut up and sit down. Guido emails Mossad with details of where Meacher lives…
Back in the Daily Politics studio, Ed Balls seems to be sporting a new, sharper haircut. Have the image consultants who got Gordon to bleach his smile, told Balls to sort his haircut out and wear contact lenses? In his SpAd days Balls was far more dishevelled.
“Michael Abraham Levy, I am arresting you under the terms of the Honours (Prevention of Abuses) Act 1925 and the Political Parties, Election and Referendum Act 2000.”
Detective Superintendent Graham McNulty
Psy-Ops units waged online warfare by sending emails and text messages to Iraqi senior officers telling them to surrender in advance of the U.S. Army’s Rolling Thunder operation. The effect of these messages on morale was telling, it showed the Republican guard that the enemy knew them individually, knew where to get them and how. The Republican Guard consequently put up no defence when the U.S. Army arrived. In advance of Yates of the Yard’s detectives’ Operation Ribble, Guido has borrowed some of those psy-ops tactics, after all, as concerned citizens we must each do our little bit in the War on Sleaze.
Email Guido for a gamesheet to print out, then email it onwards as appropriate or just cut out and play Sleazy Sweepstakes in your office. (Peerages not included.)
- Thursday, March 16, 2006 : Blair’s Sleaze-Master General
- Monday, March 20, 2006 : “Worse than Halliburton” Capita Boss Secretly Gave Labour £1 Million
- Tuesday, March 21, 2006 : Met’s Serious Crime Inspectorate Looking into Loans for Lordships
- Wednesday, March 22, 2006 : Capita and Ruth Turner (Part I) “Network Links”
- Thursday, March 23, 2006 : Levy to Give Evidence
- Friday, March 24, 2006 : Trusts and Convictions
*** OUTLINES THE SCAM, POINTS TO DES SMITH AS OF INTEREST TO THE POLICE ***
- Monday, March 27, 2006 : Levy Asked for Credit Knowing Refusal Often Offends
- Thursday, March 30, 2006 : The Abramoff Precedent Must Be Worrying Sleazy Levy
- Thursday, April 06, 2006 : Police Getting Closer, Run Levy, Run!