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Establishment networking, sleaze and corruption. A handy compendium.

Panorama on in 15 minutes. Titled 'Cashing in on Covid'

SUMMARY
As the government faces mounting criticism that well-connected people made millions out of Britain's PPE crisis, Panorama investigates who won out. More than £12 billion was spent in the first six months of the pandemic on contracts to provide personal protective equipment. Reporter Richard Bilton meets one man who made £40 million on a deal and speaks to others who felt ignored in favour of less-experienced suppliers. As the government refuses to reveal the full details of all its so-called VIP deals, the programme reveals the high-profile connections to one lucrative contract.
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Might be worth a watch but it is on the BBC.

ETA I expect this might have been mentioned on this thread before. :oops::D
 
German regulator takes oversight of Greensill Capital as crisis deepens
Tue 2 Mar 2021
The crisis engulfing Greensill Capital, a controversial bank that employs former UK prime minister David Cameron, mounted on Tuesday night when it emerged that Germany’s financial watchdog has taken direct oversight of operations at a local subsidiary of the London-based lender.

The bank, which specialises in supply-chain finance where businesses borrow money to pay bills, was plunged into crisis on Monday when Credit Suisse suspended $10bn (£7.2bn) of funds linked to Greensill, warning that there were “considerable uncertainties” about the true value of the assets.
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Greensill Crisis Forces NHS to Pay Pharmacies for Prescriptions
3 March 2021
Beleaguered lender runs early payment scheme for chemists
Scheme was introduced by ex-U.K. Prime Minister David Cameron
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Any idea about these people ?
Seems a bit bizarre to put up posters in BS5 ...
I bet very few people would bother to look them up ...

www.nec-healthcare.com

Home - NEC Healthcare

NEC Healthcare has been working with many of the UK’s NHS Trusts and UK Care Homes manufacturing and supplying face protection visors and other core medical devices to assist with Covid-19 pandemic.
www.nec-healthcare.com www.nec-healthcare.com

nechealthcare.jpg
 
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Priti Patel's Home Office seem to spend a hell of a lot on eyebrows.
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:eek:
 
yield said:
German regulator takes oversight of Greensill Capital as crisis deepens
Tue 2 Mar 2021

Greensill Crisis Forces NHS to Pay Pharmacies for Prescriptions
3 March 2021
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Fallout from Greensill Collapse Splatters British Government, As Taxpayers Face Big Losses | naked capitalism Downing Street's dodgy dealings with Citi and Greensill show just how far the British government is willing to go to line the pockets of ban

Downing Street's dodgy dealings with Citi and Greensill show just how far the British government is willing to go to line the pockets of banks and other financial firms while bleeding taxpayers dry.
www.nakedcapitalism.com www.nakedcapitalism.com
April 6, 2021
The collapse of UK-based supply chain finance firm Greensill Capital continues to reverberate. In Germany the private banking association has paid out around €2.7 billion to more than 20,500 Greensill Bank customers as part of its deposit guarantee scheme after the bank collapsed in early March. But the deposits of institutional investors such as other financial institutions, investment firms, and local authorities are not covered. Fifty municipalities are believed to be nursing losses of at least €500 million.

Greensill’s biggest source of funds, Credit Suisse, has seen its share price plunge by almost a quarter. This is due not only to the fallout from Greensill’s collapse but also the impact of losses at its prime brokerage division caused by the stricken U.S. hedge fund Archegos, which are expected to reach €4 billion. The lender has warned of “considerable uncertainty” regarding the valuation of its supply chain finance fund. More than $5 billion of the roughly $10 billion invested in the fund remains outstanding.

Credit Suisse had assured clients in marketing documents that the debt in the supply chain fund was “low risk”. In one factsheet, it also said: “The underlying credit risk of the notes is fully insured by highly rated insurance companies.” At the beginning of March, that turned out not to be true. Some clients whose money remains trapped in the fund have threatened to sue.
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Greensill’s biggest client, Anglo-Indian steel magnate Sanjeev Gupta, is on the verge of bankruptcy. Gupta’s GFG Alliance reportedly owes Greensill more than €3 billion. It began defaulting on its obligations after Greensill stopped lending to the group at the beginning of March. At the end of March Gupta requested a £170 million emergency loan from the UK government, which was duly rejected. Greensill’s administrator, Grant Thornton, has been unable to verify invoices underpinning some of the loans to Gupta. Companies listed on the documents denied ever having done business with the metals magnate.

Now the fallout is beginning to splatter the British government, which invited Greensill to participate in its Coronavirus Large Business Interruption Loan Scheme (CLBILS). This is despite the fact the company: a) wasn’t a bank; and b) was quite clearly already in deep financial trouble. Greensill’s participation in CLBILS allowed it to extend even more loans, this time government backed, to Gupta’s empire. Taxpayers will now probably end up holding the bag for those loans.
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Being an ex-PM is also not without its perks:
www.opendemocracy.net

‘Revolving door’ watchdog has met only once since Johnson’s election win

Exclusive: UK government accused of transparency failings amid growing concerns over ties between business and Westminster after David Cameron lobbying scandal
www.opendemocracy.net www.opendemocracy.net
www.theguardian.com

Rishi Sunak told David Cameron he had ‘pushed the team’ over Greensill

Treasury releases messages sent by chancellor to former PM and says Cameron phoned junior ministers
www.theguardian.com www.theguardian.com

Is there anyone on urban I can text who can lend me a few billion quid to fill the hole in my pocket?
 
Company registered in the last month.

Allegedly in talks with two UK ministries seeking (taxpayer) funding for 'science projects'
 
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