Thursday, October 2, 2008

+++ Iain Blair Statement Imminent +++

Hopefully he will be saying “goodbye”.

Evil Short Sellers Part IV – MPs’ Pension Funds

There was a little union sponsored demo in Birmingham against “Cameron’s cronies cashing in on the credit crunch” organised by Charlie Wheelan. Unfortunately they seem to have missed out on the biggest short seller of Bradford and Bingley. None other than his old crony Paul Myners’ GLG Partners. Brown’s favourite financier, donor and deputy chairman of the Smith Institute, as well as Gordon’s personal financial backer during the leadership campaign.
GLG partners declared to the FSA the largest short position in the market, the massive hedge fund profited the most from being short Bradford and Bingley before it went under. If Charlie’s dozen strong rent-a-crowd don’t fancy demonstrating outside GLG’s City offices they could try demonstrating outside the Guardian’s offices. Myners is also chairman of the Guardian’s holding company.

Labour has also taken £1 million from Jon Aisbitt, non-executive chairman of Man Group, Britain’s biggest quoted hedge fund group. Derek Tullet, who made his money providing derivatives broking services to hedge funds, also sent £400,000 into Labour’s coffers.

Guido has already pointed out that one of the LibDems biggest backers, Paul Marshall of Marshall Wace, is an evil short seller with no less than three of his funds on the FSA’s register of short sellers.

It gets even better, the FT has discovered that MPs’ own pensions are invested in a hedge fund manager, Quellos. Not only that, in addition the MPs’ pension fund also made money lending stocks out to hedge funds to enable them to short shares. The hypocrisy is huge here, they condemn short sellers publicly and yet they roll up the profits of short selling in their pension plans.

Wednesday, October 1, 2008

The Sun Shines on Dave

The Sun has made the shift. He’s ready says this morning’s leader, “This speech could have been lifted straight from a Sun editorial — from backing Our Boys on the front-line to mending Britain’s broken society. .”
It also has a dig at the Robinson / Crick line of reporting “Is he up to the job? The Labour-leaning BBC was not impressed . . . always a good sign.” Clearly the deal is sealed as far as Murdoch is concerned, he has decided Dave is going to win.

Stats : 806,129 Pageviews from 562,536 Visits by 108,920 Visitors

The most popular story last month was Gordon Brown’s Downfall closely followed by Polly : Get Rid of Brown or the Labour Party Will Die.

It was fun.

Draper Reads Your Comments

Had a chat with newbie blogger Derek, you co-conspirators will be pleased to know that he is fascinated by the minds that abuse him. He was particularly interested in Guido’s fashion sense. He was attending the conference in his capacity as a Guardian blogger. Yeah, right…

Speech Reactions

Tim Montgomerie was reduced to tears and reckons it was “Camerons Greatest Speech”. Neil O’Brien thinks it synthesises three years of Cameroon policy thinking into a coherent single message of modernised traditionalism. Guido was looking around the press gallery for their reactions, Maguire had a face that was thunderous, Derek Draper looked miffed.

It was lapped up in the hall, it was solid and substantial. No flashy gimmicks, traditional Conservative themes like sound money, the Union and strong defence. He stuck to his guns on tax breaks for marriage. He explicitly rejected libertarianism saying the Tories were not just ideologically concerned with freedom. He identified a good ideological attack line against Miliband, turning the charge against Thatcher against Labour, that Miliband did not believe in society, only the individual and the state.

He deflected the experience versus novice argument by pointing out that if that was the case, Brown should never leave office.

Sam came on at the end wearing incredibly high red heels that were almost fetish shoes. Bet the tabloids spot that. Theresa Villiers was dressed as Sarah Palin.

Labour Website Closes

Labour Outlook which was launched to take on ConservativeHome has closed. Dreary and as characterless as it was it only emphasises the difficulties Derek Draper faces trying to ignite the Labour campaign online. Still the news that Labour’s Going Forth campaign, focusing on an online battle to win Labour a fourth term, will be led by John Prescott must be a worry for CCHQ. Or maybe not…

Tuesday, September 30, 2008

Cable Flip-Flops

Osborne was on all the news shows at lunchtime giving an interview outside the Treasury after his meeting with the chancellor – his message echoing Cameron’s speech this morning that the Tories would work with the government on legislation next week. Vince Cable has in response just done a waltz around the Westminster studios joining in with his own call for cross-party co-operation in the national interest – “We have to avoid getting caught up in narrow partisanship.”

The press releases sent from his office in the last 24 hours had a very different message:

“Gordon Brown’s response to the economic crisis has been too little, too late.”
“Conservatives don’t have a clue on the banking crisis”

This afternoon’s willingness to avoid point-scoring contrasts with the press release that arrived in Guido’s inbox from Cable at 10.23, just half an hour before Cameron’s hastily arranged emergency statement on the economy. In that press release Cable claimed only the LibDem’s plan would put money back in consumers pockets, cut energy bills, and stop home repossessions:

Gordon Brown and Labour can’t offer that. They got us into this mess. Now they are veering between complacency and panic. Dithering on key decisions, muddling along on half measures.

David Cameron and the Conservatives won’t offer it. At a time when those on the breadline are struggling more than for a generation, their top priority is tax cuts for millionaires.

…There is only one party in Britain today with a serious and credible plan ….

Politically astute operator that he is, Cable changed his tone pretty sharpish this afternoon as soon as he saw which way the wind was blowing….

Rapid Rebuttal Unit Arrives in Person

Guido has just spotted Derek Draper himself, wearing a Hawaiian shirt and sandals combination, checking into the Hyatt conference hotel. A well judged outfit calculated to make him blend in here in rainy Birmingham. Guido did not get a photo because he was laughing.

Market Action Overshadows Tory Conference

There is a sense here in Birmingham that, as it was during the LibDem conference, the real news story is on Wall Street. Cameron is going to give a hastily arranged speech focusing on the financial market mayhem later this morning.

Still it is not all bad news,* Gordon’s favourite financier Paul Myners and appointee as chairman of the Low Pay Commission, is doing well. The massive hedge fund of which he is a director, GLG, had the biggest short in the market in Bradford and Bingley. Peter Oborne points out that Ronnie Cohen, “Gordon’s private banker” and a huge Labour Party donor, has just set up a new hedge fund to take advantage of the market situation. Good to see some people doing well out of the misery and mayhem…

*You won’t read this news in the Guardian. Paul Myners is the chairman of Guardian Media Group.


Seen Elsewhere

Play the Great Clacton By-Election Game! | ConservativeHome
Your Aussie Sheila’s Not Up To It Mr Speaker | Jesse Norman
The Douglas Carswell Shock | Tim Stanley
Carswell is a True Moderniser | Charles Moore
Assembling a New World Order | Henry Kissinger
India’s Modi Bypasses Mainstream Media | Index
Bercow on the Knife Edge | Quentin Letts
Welcome to Mississippi | Conservative Women
LibDems Select Hancock Replacement | Blue Guerilla
Carswell Resigning: “Moment Labour Won Election” | Labour Uncut
Why We Need Change | Douglas Carswell


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Owen Jones says:

We also need Zil lanes.


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