4 Votes In It

If the LibDems had actually got their act together tonight, one opposition MP told Guido, the government would have lost. UKIP’s Bob Spink was seen voting with the government…

Tonight’s Conversation Starter for Mandelson and Balls

Patrick Hennessy tells us that there is an interesting dinner planned for tonight, and that in a new found spirit of peaceful cooperation, bread will be broken by two old enemies. Before the great tribal truce and the summoning of the Dark Lord from over the water by the One-Eyed Son of the Manse, Peter Mandelson and Ed Balls were the most vicious champions of their respective masters; Blair and Brown. Briefing and pouring bile about the enemy camp into the ears of anyone who would listen.

It was at the height of the Blair destabilising cash for honours investigation that Guido was sent a document outlining the use of 11 Downing Street by the Smith Institute and the role of that “charity” in furthering Gordon’s ambitions. The note was passed to Guido by an über-Blairite close to No. 10. This was hardly surprising since No. 10 suspected (rightly) the Brownies were stoking the flames of cash for honours, this was essentially a sleaze counter-attack. The note outlined how Gordon got private polling and personal consultants flown in from the States. How they were paid for by cash-for-access meetings in No. 11 involving Brown and his aides under the auspices of the Smith Institute. Balls himself was paid an £89,000 bung by the Smith Institute and is now under scrutiny with the Tories looking to link this payment and others to the unlawful furtherance of Brown’s political ambitions.

Perhaps tonight, over the appetisers, Ed might want to ask Peter who it is he thinks was the cabinet minister who gave a very similar tip to the Tories?

Guido is Feeling Charitable

On Friday the Evening Standard launched its Christmas charity auction in aid of Greenhouse. Greenhouse provides sport and performing arts programmes for youngsters in deprived neighbourhoods.

One lot in particular caught Guido’s eye. Don’t worry Michael, Guido will pay cash in a brown envelope…

So It Begins : UK Authorities Censor Wikipedia

If you search Wikipedia for The Scorpions Virgin Killer album, you will get a “The requested URL en.wikipedia.org was not found on this server” 404 error. This is because the album cover is deemed to be child pornography. The censorship is being done at Internet Service Provider level by the networks. The rights and wrongs of this case are nuanced.

The technological capability will no doubt have the politicians salivating. They are able to block any website on some pre-text from being viewed in the UK. That is a power they won’t be able to resist…

Hat-tip : The Register

Can Someone Explain the Bank Bail-Out?

Guido has flu and so does baby Ms Fawkes, who made her unhappiness abundantly clear between 2 a.m. and 4 a.m. this morning. So perhaps it is the grogginess that is hindering Guido’s ability to comprehend Gordon’s financial genius. The £600 billion bank bail out plan to restore liquidity to the credit markets includes the following elements:
  • H.M. Treasury has guaranteed British inter-bank lending (charging a hefty penalty risk premium adding to the cost of inter-bank lending).
  • The Treasury has demanded preference shares from the banks with, from memory, a 12% interest charge to be paid by the banks.
  • The Treasury has also encouraged the FSA to double the requirement for banks to hold government gilts in their reserves, yielding somewhat less than a paltry 4%.
  • The Treasury is demanding that banks lend at mortgage rates closer to base rates.
Is Guido missing something? How can the banks make a profit and recapitalise if the government has both hiked their cost of capital and reduced the returns on their reserves, as well as exhorting them to reduce their margins on mortgage lending? How does this plan add up?

Rich & Mark’s Monday Morning View

Gordon’s Slush Fund

The Mail on Sunday this morning is following up on this story. Guido will have more revelations next week…

Something Odd in the Banking Bill

Guido is suspicious about this seemingly innocuous amendment in the new Banking Bill:

Banking Bill
Part 7 — Miscellaneous

Weekly return

Section 6 of the Bank Charter Act 1844 (Bank to produce weekly account) shall cease to have effect.
The 1844 Banking Bill ensured transparency in the operations of the Bank of England. It has been good enough for over 164 years.The section the new Banking Bill seeks to abolish reads as follows:
And be it enacted, That an Account of the Amount of Bank of England Notes issued by the Issue Department of the Bank of England, and of Gold Coin and of Gold and Silver Bullion respectively, and of Securities in the said Issue Department, and also an Account of the Capital Stock, and the Deposits, and of the Money and Securities belonging to the said Governor and Company in the Banking Department of the Bank of England, on some Day in every Week to be fixed by the Commissioners of Stamps and Taxes, shall be transmitted by the said Governor and Company weekly to the said Commissioners in the Form prescribed in the Schedule hereto annexed marked (A.), and shall be published….

Surely it can’t be that they don’t want us to know how fast the Bank of England’s printing presses are going to be running?

Krazy Kaschke Kraut

Rather than going into tedious detail about why LabourHome’s Alex Hilton is being sued by Johanna Kaschke, Guido just wants to say that Johanna Kaschke is definitely ‘one cherry short of a Schwarzwalderkirschtorte’.

Last year she claimed to be

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Friday Caption Competition (You’re Nicked Edition)

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Hain : CPS Statement in Full

CPS decides no charges for Peter Hain MP

5 December 2008

The Crown Prosecution Service has today advised all concerned parties that there is insufficient evidence to charge Peter Hain MP with any offences in relation to donations made to

[…]

+ READ MORE +

Clegg Right to Boycott Speakers Ruse

Nick Clegg is not allowing the Speaker to get away with packing the committee looking into the Green affair, the LibDems will boycott the committee. The Speaker plans to establish a seven strong committee with four Labour placemen in

[…]

+ READ MORE +



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Quote of the Day

Former Miliband guru Arnie Graf reveals Labour’s disconnect with the working class:

“On one of my trips to the U.K. in the autumn of 2013, I bumped into one of Ed’s strategists in Portcullis House. He asked me if I was assisting the staff on Ed’s trip that was to take place in a few days to one of the regions. I told him that I did not have knowledge of his planned trip.

He told me that Ed was going to give a talk at the region’s annual fund raising dinner and that prior to the dinner he had invited the media to join him at a local coffee shop to listen to a conversation he planned to have with a minimum wage worker. The point of the conversation was to show how difficult it was for a minimum wage worker to get on in life.

There was only one problem. No one had been able to locate a minimum wage worker for Ed to talk with.”

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