Monday, 13 March 2017

Corruption "with a little c"

Reader's letter from City AM:

George Osborne's new job

The reason that appointments like this are treated with suspicion is because there are many examples of corruption "with a little c" in government and the question arises whether BlackRock benefitted from the decisions George Osborne made while Chancellor.

If Osborne is worth the money he is being paid, then good luck to him, but don't be surprised that questions are asked!

Rob Kelly

As if on cue, MBK emailed me this from yesterday's Sunday Times:

The US funds giant that employs George Osborne on a £650,000-a-year contract is considering bidding for billions of pounds of taxpayer-backed student loans.

BlackRock is understood to be eyeing the debt portfolio, which was originally put up for sale in 2013 when Osborne reigned over the Treasury...

I'm sure we can all work out who the "little c" is.


Lola said...

I was wondering why they were employing Georgie. I knew that there would be some wrinkle somewhere.

Mike W said...

Top letter Mr Kelly.

Re student Loan book in article. Banks 'tax' so are defacto government: Government has to raise funds to lend: so defacto, is a 'loanable funds institution'. Er...

Mark Wadsworth said...

L, I think everybody who can think knows this by now.

MW, yes.