Guido previously suggested that Peter Hain could find an alternative career as a politico-celebrity endorser of commercial services.

Alas perhaps this is not to be, Hain’s ringing commerical endorsement of Picture Financial Services plc has not helped the business. It closed to new business in February as it got into financial difficulties and is now rumoured to be about to change hands in a fire-sale for 1p.

Not exactly the picture of success envisioned by Hain in his endorsement.

Elsewhere Morgan Allan Moore, the spin firm that ran Hain’s leadership campaign and secured his endorsements for clients who were donors, had lined up to be taken over in a multi-million pound deal. Alas as the company has become mired in an ethical standards inquiry that deal has been aborted. Hain has not brought good fortune to his friends.

Most serious of all, the ongoing police investigation has, it is rumoured, uncovered some interesting spending by Hain’s campaign that might not please the GMB brothers.

Guido suspects the union members will not appreciate the way their hard-earned subs were spent by the champagne swilling radical…