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The Artful Todger
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16-04-2021, 12:00 PM
11

Re: David Cameron and Greensill: What's it all about?

Originally Posted by Donkeyman ->
Yes, another form of insider trading imo !!

D man !!👎👎
Although illegal, Insider Trading can NEVER be eliminated. It's a fact of life.
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19-04-2021, 05:05 PM
12

Re: David Cameron and Greensill: What's it all about?

Originally Posted by The Artful Todger ->
Although illegal, Insider Trading can NEVER be eliminated. It's a fact of life.
Yeah check out Pelosi's husband who bought a bucket load of shares in Microsoft just before they were awarded a massive government contract.

https://www.foxbusiness.com/politics...shares-options
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19-04-2021, 05:28 PM
13

Re: David Cameron and Greensill: What's it all about?

I'm terribly disappointed and shocked to find that Cameron has behaved so badly. As a politician I always saw him as a weasel but I thought that he was a decent weasel but it turns out I was very wrong.

And he is not alone, plus this goes on across the floor and outside of the house. It makes the use of "Honourable Member" an offensive sick joke.
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20-04-2021, 10:46 AM
14

Re: David Cameron and Greensill: What's it all about?

Cameron asked to give evidence at MPs' lobbying inquiry

https://www.bbc.co.uk/news/uk-politics-56813196

Former Prime Minister David Cameron has been invited to give evidence at the Treasury Committee's inquiry into the collapse of financial firm Greensill.

It is also examining how the Treasury responded to lobbying on behalf of the company - including from Mr Cameron.

Committee Chair Mel Stride told the BBC he would also ask firm founder Lex Greensill and Chancellor Rishi Sunak to appear at the inquiry.

Mr Cameron has said he will "respond positively" to requests for evidence.
Of course he will but only to obfuscate, prevaricate and procrastinate .....
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20-04-2021, 12:07 PM
15

Re: David Cameron and Greensill: What's it all about?

Can anybody name a member of the Tory party that does not have
links with any investment bank or financial institution whatsoever ??
Either through marriage or birth whatever ??

Donkeyman! 👎🤔👎
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22-04-2021, 06:51 PM
16

Re: David Cameron and Greensill: What's it all about?

Bank of England releases emails amid Cameron lobbying row

https://www.bbc.co.uk/news/uk-politics-56843359

The Bank of England said the former PM contacted its officials multiple times last year as the finance firm sought access to a Covid loan scheme.

Three MP-led inquiries and a lawyer-led government review are looking at the former Tory leader's work for the company, which collapsed in March.

On Wednesday, the Bank published details of contacts between Mr Cameron and its officials during the early stages of the Covid crisis last spring.

They show the ex-PM contacted Bank officials before and after the firm applied to join a government scheme to support lending to businesses.

These include email exchanges with Sir Jon Cunliffe, the Bank's deputy governor. The Bank was running the scheme, along with the Treasury.

Greensill Capital had wanted the terms of the Covid Corporate Financing Facility (CCFF) to be changed so it could take part in the programme.

The request was ultimately rejected after the Treasury concluded the firm's proposals were not suitable.

Earlier on Wednesday, Sir Tom - the Treasury's permanent secretary, who previously worked for Cameron as a Europe adviser - said Greensill Capital had "persistently" approached his department about being involved.

Giving evidence to MPs on the the Public Accounts Committee, he told them Mr Cameron had rung him directly in April 2020, although the call did not include "substantive discussion" of Greensill's proposals. "It was simply a call to draw it to my attention," he said, adding that Mr Cameron had his work phone number "because I used to work with him".

The second most senior official at the Treasury, Charles Roxburgh, told the committee he had met Mr Cameron and financier Lex Greensill - founder of the firm - at nine meetings spread out over four months from March to June 2020.

The Treasury is shortly expected to reveal further detail about its contact with Mr Cameron and Greensill in response to a Freedom of Information request.
Persistent .....
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26-04-2021, 12:07 AM
17

Re: David Cameron and Greensill: What's it all about?

Top Civil Servant to Testify on Greensill Scandal to U.K. Panel

https://www.bloomberg.com/news/artic...l-to-u-k-panel

The country’s top civil servant will testify on Monday to a parliamentary panel about the collapsed lender Greensill Capital’s links to the government, the Public Administration and Constitutional Affairs committee (PACAC) said.

U.K. Cabinet Secretary Simon Case will be asked about “the effectiveness of the relevant legislation and codes of conduct in ensuring government business is conducted ethically and with propriety,” the panel said Friday in an emailed statement.

“The committee will also look at specific issues concerning the relationship between Greensill, current and former ministers, and senior civil servants,” it said. “This will include Lex Greensill’s exact role in Number 10, potential conflicts of interest for civil servants and ministers, and current investigations into second jobs.”
As a BJ appointee, Simon case will be, no doubt, on the defensive and unlikely to reveal much of significance .....
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26-04-2021, 08:06 AM
18

Re: David Cameron and Greensill: What's it all about?

Hi

The big thing about Greensill was that it was preparing to float on the Stock Market with a value in the £Billions.
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26-04-2021, 10:57 AM
19

Re: David Cameron and Greensill: What's it all about?

Originally Posted by swimfeeders ->
Hi

The big thing about Greensill was that it was preparing to float on the Stock Market with a value in the £Billions.
Indeed it was .....

Greensill expected £22bn flotation that could have meant Cameron windfall

https://www.theguardian.com/business...meron-windfall

Greensill Capital was considering a £22,000,000,000 stock market flotation – a figure that dwarfs previous estimates and implied a potential nine-figure windfall for its adviser David Cameron – only weeks before the former prime minister’s intensive government lobbying.

The new figure is revealed in a presentation for the company’s board in late January 2020 by its bankers Credit Suisse, which outlined plans to position “Greensill for a premium valuation”, described the lender as a “once in a generation” company that “any growth investor must own”.

The document, which has been seen by the Guardian, benchmarked the now-collapsed Greensill against financial giants such as Mastercard and PayPal.

It said the company’s exponential growth over the following three years would be supported by key “stakeholders” including Cameron, Masayoshi Son, the boss of Greensill investor SoftBank, and Julie Bishop, Australia’s former minister of foreign affairs, who was also an adviser to the firm.

It concluded: “Credit Suisse is confident Greensill can achieve a valuation in excess of US$30bn [£22bn] equity value.”

Previous reports have suggested that Cameron was granted a stake of about 1% in Greensill for his advisory role, which implies the former prime minister could have been anticipating a windfall of around £200m at that time – assuming the Credit Suisse valuation was achieved.

That kind of wealth would have placed Cameron alongside the likes of the Formula One driver Lewis Hamilton and films stars Catherine Zeta-Jones and Michael Douglas in the Sunday Times rich list.
No wonder that Cameron was desperate to keep the firm going .....
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27-04-2021, 05:08 AM
20

Re: David Cameron and Greensill: What's it all about?

Greensill worked within UK government without contract

https://www.ft.com/content/cca3ab83-...4-1208e1c0f981

Lex Greensill, the financier who secured a place at the heart of the British government, acquired his privileged role without any contract or explanation of his job, two senior Whitehall officials revealed on Monday.

Simon Case, head of the UK civil service, told MPs he was “alarmed” that Greensill, who led the recently collapsed finance company Greensill Capital, was handed an advisory role and a desk in the Cabinet Office.

Case was giving evidence to the Commons public administration committee alongside Darren Tierney, head of propriety and ethics for the civil service.

Tierney said the appointment of Bill Crothers, a former chief procurement officer, to a role at Greensill while still in government had been authorised by the late Jeremy Heywood, then the cabinet secretary, and John Manzoni, the former chief executive of the civil service. Heywood, who died in 2018, was also instrumental in bringing Greensill into government.

Case said there were scant details about why Greensill was appointed as a government adviser in 2012. The financier is known to have worked with Heywood at Morgan Stanley before Heywood was appointed cabinet secretary.

“We cannot explain how these decisions were taken or why . . . it looks like there were conflicts and we are not clear on how they were managed. From our cursory look, we can’t see the evidence.” Case added that Greensill’s appointment “doesn’t look right” or “appropriate”.

Greensill carried a business card describing himself as a “senior adviser” to the prime minister’s office. Case confirmed he was given security clearance for access to Downing Street and the Cabinet Office, but could not state what he was doing.
By appointment .....
 
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