Red Ed illustrates what Peter Oborne was talking about...

From the BBC:

Ed Miliband has blamed the riots that swept English cities on a "me first" culture - and accepted Labour must share the blame for creating it.

The Labour leader said his party had failed to tackle inequality and not paid enough attention to morality. And he linked the riots to a wider collapse in social responsibility exemplified by the banking crisis and MPs expenses scandal.

From The Telegraph, 4 October 2010:

Ed Miliband has made a series of shrewd moves in the housing market, which have made him more than £100,000 [ahem, rather more than that] in profit and taken him to a £1.6million house in a leafy area of north London.

Mr Miliband, 40, got his first foot on the property ladder when he was given a stake in his childhood home in Primrose Hill, north London. He and his brother, David, signed a “deed of variation” along with their mother, Marion, following the death of their father Ralph, an influential Marxist academic, in 1994.

This gave them each a 20 per cent stake in the four-storey house in Edis Street, reducing the inheritance tax eventually payable on the estate. The brothers then moved into a house nearby in Chalcot Square, which their mother had bought for their grandmother in 1981.

David turned the ground and first-floor flats into one home while his younger brother, then a Labour researcher after studied PPE at Oxford, is said to have spent about £100,000 on the leasehold for the flat above...

By then a Government minister, in 2004 David decided to buy out his family’s stakes in the Edis Street house and moved in with his wife, Louise Shackelton. Ed received at least £160,000, on which he is said to have paid a “significant” amount of Capital Gains Tax.

In May 2005, at the same time as he became the Labour MP for Doncaster North, Ed sold his Chalcot Square flat for £342,000, about three times what he paid for it. Using the proceeds of the sale together with the money he had received from his older brother, Ed bought a flat in neighbouring Chalcot Road for £648,500.

Just three years later, in December last year, he sold it again for £740,000, making a profit of almost £100,000. By then he had moved in with his girlfriend, Justine Thornton. She had sold her own flat in Maida Vale, west London, for £630,000 – making a profit of £274,000 in less than a decade.

The couple moved to a £1.6m house in Dartmouth Park, near Hampstead Heath and close to Ed’s key supporter Lord Kinnock.