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Sunday, September 28, 2008

Who is financing the Tories?

This morning's Observer has the lowdown on how David Cameron's Conservative Party is caught up in the mire of City deals and short-selling that has brought the banking sector and the world-wide economy to its knees.

The paper tells us that the Tories are receiving hundreds of thousands of pounds from hedge fund managers who have been making vast sums of money from plunging bank shares. This is in addition to the tens of thousands of pounds that has been poured into Carmarthen West and South Pembrokeshire Conservative Association:

After the Financial Services Authority had, in effect, barred the controversial practice of short-selling bank stocks and the Treasury was forced to draw up a rescue package for Bradford and Bingley, it emerged that a small group of City financiers who have made fortunes from falling stock markets are paying at least £50,000 a year to the party.

Their donations entitle them to membership of an elite supporters club called the Leaders Group, which bestows invitations to functions attended by David Cameron, something that has prompted allegations that the Tory leader is supporting 'cash for access'. Last night, in an attempt to quell a mounting row over the party's finances ahead of this week's conference, the party put details of the Leaders Group on its website.

It has also emerged the Conservatives have continued to receive money from Lord Laidlaw, a Monaco-based tax exile who has given the party more than £3m. One donation came after the fact that he had taken part in orgies with prostitutes was exposed in the tabloids.

None of this is illegal of course but these revelations do raise the question once more as to whether the Tories really have changed? Sadly, it appears that beneath the slick PR of Tory leader David Cameron, they are the same old party of selfish hooray henrys who have no idea what it is like to be an ordinary person or family struggling to make ends meet. They are profiting from the misfortunes that fall on our economy and which are threatening the financial security of tens of thousands of ordinary people.
Poor fella, having to pay people to have orgies with him...
Peter it would only be right to link to John Dixons blog given he broke the hedge funding story instead of linking to your own post suggesting you had discovered this
The post I have linked to links onto John Dixon's blog twice and makes it clear that he was the person who discovered the hedge fund story in Carmarthen West.
>the Conservatives have continued to
>receive money from Lord Laidlaw, a
>Monaco-based tax exile
Isn't that illegal?
Yeh, but someone else simply told John Dixon - he did not dig it up himself by deep research. At the end of the day John Dixon is just another Plaid Cymru loser!
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