29 September 2008

Tory Conference - Short-Sellers and Perks

New charges of cash-for-access-to-politicians, but it's the Conservatives this time.

The Tories have also taken hundreds of thousands of donations from people involved in the short-selling that has destablised the banking system. Paul Ruddock (Lansdowne Partners) donated over £210,000 since the start of 2006. His firm short-sold to drive down Barclays and Anglo Irish Bank share and is said to have made £100 million betting that Northern Rock would collapse. Michael Hintze (CQS Management) took out short positions on Bradford and Bingley. He has donated to the costs of running George Osborne's office. He's paid for two drinks receptions held by Cameron's office. His company has made loans of £2.5 million to the Tories. He has also supported David Davis, Liam Fox and Boris Johnson, and donated money to support the "childhood review" being carried out by David Willetts.

With all this fundraising talk, it's time to remind ourselves about the Midlands Industrial Council.

Andrew Lansley also presents the Tory plans for health at their conference today, but he's been criticised for backing down on the traffic light labelling guide which helps consumers easily avoid unhealthy foods.

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