Sunday, March 29, 2009

Strange Silence of the Taxaholic

Richard Murphy is the left-wing accountant who is wheeled out by the Guardian as a rent-a-quote “expert” on tax whenever they want to justify demanding higher taxes.

He is in reality just another left-wing, poisonous advocate of the legalised looting of the productive classes.  His hypocrisy was exposed when he gave the Guardian a clean bill of health despite them taking advantage of a legal loophole to avoid paying a single penny in tax when GMG made £300 million in profitsTax justice indeed.

Murphy & MynersMurphy was also silent on GMG’s use of a Caymans Islands special purpose vehicle to avoid capital gains and has not breathed a word of condemnation of Lord Myners’ personal use of offshore tax havens to protect his assets.

Lord Myners, until a few months ago the chairman of GMG, is supposed to be the minister for tackling tax havens.  There is hypocrisy on so many levels on the Guardianista left…

Thursday, March 5, 2009

+++ "Myners Has £4 Million RBS Pension" +++

Evening Standard’s Paul Waugh has the scoop Andy Grice in the Indy reports that Treasury Select Committee Deputy Chairman Michael Fallon is saying “Myners has got a lot of explaining to do. He was a NatWest* director for three years. Yet he was the man who negotiated Fred Goodwin’s pension with RBS.”

*NatWest merged with RBS.

+++ More to Follow +++

UPDATE 12.00 : At this mornings Lobby briefing when asked about the City minister’s alleged pension links with RBS, the Prime Minister’s spokesman said: “It is not for me to comment on a minister’s personal financial interests.” Why not? After all, the taxpayers are paying for it.

Saturday, February 28, 2009

Fred Goodwin’s Payslip Revealed

This was found blowing around on Whitehall outside the Treasury:

Click to enlarge

Hat-tip : Paul Myners

Thursday, February 26, 2009

Fred’s Smackdown to Myners

Guido can’t help thinking that the row over Fred’s £8 million pension is a contrived bit of spin to distract headlines away from the £300 billion bet that HM Treasury is taking on RBS. Frankly Fred’s £8 / £16 million is neither here nor there in comparison to what the government is committing the taxpayer to underwriting. If this goes pear shaped Iceland will be nothing in comparison.

Lord and Lady Myners Party On

Baron Myners said recently “I have met more masters of the universe than I would like to, people who were grossly over-rewarded and did not recognise that. Some of that is pretty ­unpalatable. They are people who have no sense of the broader society around them.”

Broader society is suffering terribly as the banking and debt crisis ravages the economy. Yet the former Smith Institute deputy chairman, Guardian Media Group chairman, hedge fund director, long time Brown crony and newly appointed City Minister, Lord Myners of Short Selling, isn’t showing any signs of belt tightening. Quite the contrary, he is hosting gilded parties.

Yesterday he and Lady Myners “graciously” invited their friends from the art world, politics and upper reaches of the Guardian into their Belgravia home to view their multi-million pound modern art collection.Guido has been unable to confirm which particular vintage of champagne it was that Sarah Brown, and the many other friends drawn from the ruling New Labour elite, were drinking. Truly, they are “people who have no sense of the broader society around them.”

Saturday, January 24, 2009

Is Myners Full of Self Loathing?

Paul Myners, long-time Brown crony and now City Minister, is attacking over-rewarded bankers. Myners made his millions in the City, he was until recently a director of GLG, the hedge fund spawned by ex-Lehmans staff, that made fortunes for traders taking short-term bets. It was one of the funds that profited the most from the collapse of Northern Rock.

He has a cheek doesn’t he?

Monday, October 20, 2008

Poacher Turned Gamekeeper

Paul Myners has managed to get a press release written by him republished in full in the Guardian, (the holding company of which he used to chair). Handy.

“As City minister, my priority is to bring stability to the system. My ambition is to keep our banks among the strongest in the world. Our economy will welcome it. It deserves nothing less.”

Last month when the hedge fund of which he was a director profited from being the biggest short seller in Bradford and Bingley, was his objective to “Keep our banks among the strongest in the world”?

It really is “do as I say, not as I do” for the ruling elite isn’t it? Hypocrisy.


Seen Elsewhere

Small State Keynesians, Anti-Corporate Hayekians? | Chris Dillow
Ruffley Shows Why We Need a Proper Recall Bill Now | Alex Wickham
How is Miliband’s ‘New Politics’ Working Out? | Speccie
State Should Send More Poor Children Private | Sam Bowman
£1 Million Cost of Ed Balls’ Ego | Laura Perrins
William Hague’s Sausage Fest | Rochdale Online
Public Doesn’t Prioritise Housing | Mark Pack
Mysterious Case of Ruffley’s Missing Letter | Speccie
All the Single Ladies (And Lords) | Bloomberg
How Ruffley’s Resignation Became Inevitable | ConservativeHome
We Need a Recall Bill Now | Speccie


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Damian McBride writes in the epilogue to his memoir…

“At the time of writing, nine months from the election, I’ve concluded that Labour currently has no positive messages to communicate to anyone about why they should vote for the party, no policies which will persuade them, and is being run in a totally dysfunctional way.”



Rob Wilson says:

Without Predujice

Darling

What time will dinner be ready this evening?

Yours

Rob Wilson MP

In the interests of me I am placing a copy of this email in the public domain.


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