This will be a popular move in London, will be popular with rank and file coppers. Speculation is shifting to who could succeed him…
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.
It was fun.
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.
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.
“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:
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 ….
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.