Showing posts with label # David Cameron # Greensill Capital # Lobbying # Cronyism #Tory Hypocrisy # Politics # News. Show all posts
Showing posts with label # David Cameron # Greensill Capital # Lobbying # Cronyism #Tory Hypocrisy # Politics # News. Show all posts

Tuesday 10 August 2021

David Cameron ‘made more than £7m’ from Greensill Capital before firm collapsed

 

David Cameron so stinkingly Tory earned about $10 million from finance firm Greensill Capital before the company’s collapse, according to documents leaked to the BBC.
The former British prime minister was due to be paid $4.5 million after tax for a tranche of Greensill shares, according to a letter from the firm to Cameron obtained by the BBC Panorama program.
Cameron also received a salary of $1 million a year as a part-time adviser and was paid a bonus of $700,000 in 2019, the broadcaster reported. In total, the program alleges the documents suggest he made around $10 million before tax for two-and-a-half years’ part-time work.
 The number, reported, is news, not least because Cameron himself had refused to disclose it. Speaking to a Commons committee investigating his failed lobbying for the failed company, the failed former PM would say only that he had been paid a 'generous' sum by Greensill.That one word, 'generous', speaks volumes about Cameron and the Greensill episode. Cameron lets not forget is nothing but a slave owning descendent who has not worked a single day of his life, who with a reported obscene £30 million in inherited wealth, whilst PM imposed austerity on the rest of us.
The former Conservative leader has been at the center of Britain’s biggest lobbying scandal in a generation after it emerged he pressed senior ministers and officials to include Greensill Capital in a coronavirus lending scheme.
Greensill which provided loans to steel magnate Sanjeev Gupta's company - cratered in March after a furious lobbying effort for Covid cash by Mr Cameron fell flat. 
The former premier bombarded ministers including Rishi Sunak and senior officials with 56 texts begging for Government bailout loans.
During a Commons grilling in May Mr Cameron bragged he made "far more" cash at Greensill than he did in No10 but refused to cough an exact figure.
Following Greensill’s collapse in March, which left 3,000 jobs at a steel manufacturer at risk, investigations have been opened into the company’s activities in the U.K., Germany and elsewhere. The former prime minister was cleared of breaking lobbying rules but a cross-party group of MPs found he had demonstrated a “significant lack of judgment.” 
He also faced questions for bringing Australian financier Lex Greensill into the heart of Government as an adviser with a desk in Downing Street.
Senior civil servant Sir Bill Crothers was also found to have parachuted into a plum Greensill job after leaving Whitehall.
In a statement released after the new allegations emerged on Monday evening, Mr Cameron's spokesperson said the former Conservative party leader committed "no wrongdoing".
"David Cameron deeply regrets that Greensill went into administration and is desperately sorry for those who have lost their jobs," the spokesperson said.
"As he was neither a director of the company, nor involved in any lending decisions, he has no special insight into what ultimately happened. 
"He acted in good faith at all times, and there was no wrongdoing in any of the actions he took. He made the representations he did to the UK government not just because he thought it would benefit the company, but because he sincerely believed there would be a material benefit for UK businesses at a challenging time. 
"He had no idea until December 2020 that the company was in danger of failure. 
"We are not commenting on David Cameron's remuneration; this is a private matter. But it is preposterous to suggest that he would work for any company if he was aware that it was behaving improperly, or was in any way seeking to mislead investors. 
"Indeed, Panorama's questions and assertions are attempting to define a role for David Cameron at Greensill that is totally at odds with the facts. He was a part-time adviser to the company - one of several - and had no executive or board responsibilities whatsoever." 
The statement adds that Mr Cameron "had no knowledge" of GFG's financial situation and repeats that "both the Treasury Select Committee and the Boardman Report have since confirmed that he broke no rules".
 Labour's deputy leader Angela Rayner said it was "ludicrous" that the former Conservative prime minister allegedly earned over £7m from his work with Greensill and accused Mr Cameron of "using his Tory contacts for huge personal gain"."The fact that David Cameron was cleared of any wrongdoing, proves that the rules that are supposed to regulate lobbying are completely unfit for purpose. It's created a wild west where the Conservatives think it's one rule for them and another for everyone else,""The system causes more harm than good by giving a veil of legitimacy to the rampant cronyism, sleaze and dodgy lobbying that is polluting our democracy under Boris Johnson and the Conservatives. This is money most of us cannot even imagine, but for David Cameron it was just a part-time gig using his Tory contacts for huge personal gain." Ms Rayner said.
.Personally I believe  dodgy Dave Cameron to be a smug, conceited, greedy hypocrite of the first order, who arrogantly negligent of the well-being of the country, runs away from his responsibility, protects party  over people, who devoid of any principle, simply grubbed around in the trough to the tune of £10m  ,who along with his friends was always on hand to castigate poor people on benefits, who seem to think they are entitled to far more, whilst lining their own grubby pockets. Cameron and his party clearly believe that society should be founded on inequality, that the poor deserve poverty, whilst the wealthy deserve incentives. Simply rotten to the core, whatever reputation he once had, simply now lies in tatters, and  as for Prime Minister Boris Johnson, well like his predecessor, is made from the same cloth.