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Royal Mail sell off

cantsin

cantsin

Well-Known Member
I haven't actually got the energy to say much about this, watching David Willetts looking sheepish ( it's not his dept, so he's not being particularly combative ) as Andrew Neil throws a succession of blatantly damning facts at him, I just want to turn over and start quietly self harming in front of Loose Women.

The crowning glory of the whole rotten saga is going to be when the Mount Pleasant site gets sold off for what I read somewhere was in the region of £4bn (?) , thanks to a sudden planning wave through by Bozza, after being initially valued at peanuts as a carpark with no planning potential ( undervaluing the overall 'offering' massively) .

The scale of this piss take/corruption is mind boggling.
 
cantsin said:
I haven't actually got the energy to say much about this, watching David Willetts looking sheepish ( it's not his dept, so he's not being particularly combative ) as Andrew Neil throws a succession of blatantly damning facts at him, I just want to turn over and start quietly self harming in front of Loose Women.

The crowning glory of the whole rotten saga is going to be when the Mount Pleasant site gets sold off for what I read somewhere was in the region of £4bn (?) , thanks to a sudden planning wave through by Bozza, after being initially valued at peanuts as a carpark with no planning potential ( undervaluing the overall 'offering' massively) .

The scale of this piss take/corruption is mind boggling.
Click to expand...
It's so big that you...get used to it.
 
The national audit office recently found that the sale of Royal Mail had been deliberately botched, costing the taxpayer vast sums of money. What are the consequences of this report for Vince Cable? Err, he had to go to the papers and say that the national audit office was wrong and that everything he'd done was perfectly OK and fine. And that seems to be the end of it.

So my question would be, why go to the trouble and expense of having these oversight bodies if their findings can be brushed off so easily? Why not just admit that ministers can do whatever they want instead of running a large publically-funded organisation for the sole purpose of pretending that they're accountable to something? Not even the judiciary can reign these fuckers in, what chance does the national audit office stand?
 
SpookyFrank said:
The national audit office recently found that the sale of Royal Mail had been deliberately botched, costing the taxpayer vast sums of money. What are the consequences of this report for Vince Cable? Err, he had to go to the papers and say that the national audit office was wrong and that everything he'd done was perfectly OK and fine. And that seems to be the end of it.

So my question would be, why go to the trouble and expense of having these oversight bodies if their findings can be brushed off so easily? Why not just admit that ministers can do whatever they want instead of running a large publically-funded organisation for the sole purpose of pretending that they're accountable to something? Not even the judiciary can reign these fuckers in, what chance does the national audit office stand?
Click to expand...

same as the ridiculous Margaret Hodge / Keith Vaz P.A.C. showpieces, pure spectacle, the mirage of democracy in action.
 
The Boy said:
Does it count as fraud if the clear intention all along was to flog a publicly owned asset to one's friends for as cheap a price as possible.
Click to expand...

That may be harder to prove, but off with Cable's head anyway ;)

But the bankers being paid millions to advise on the best way to handle the sale should be easy enough to nick; Yeah flog the shares cheap to us and we'll flog them straight away for a massive profit be the stable, long-term investors that you are looking for.

eta, they must be laughing themselves horse, ffs the government PAID these cunts for this advice!!!
 
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Bahnhof Strasse said:
That may be harder to prove, but off with Cable's head anyway ;)

But the bankers being paid millions to advise on the best way to handle the sale should be easy enough to nick; Yeah flog the shares cheap to us and we'll flog them straight away for a massive profit be the stable, long-term investors that you are looking for.

eta, they must be laughing themselves horse, ffs the government PAID these cunts for this advise!!!
Click to expand...

just every single part of it is eye watering - the idea they could use this as the pretext for essentially selling the shares to themselves, AND THEY THEN SOLD 5O FUCKING % OF THEM immediately, for a huge profit which they themselves manufactured by undervaluing them in the first place...boggling
 
cantsin said:
didnt know this part of the story

: http://politicalscrapbook.net/2014/04/osborne-best-mans-hedge-fund-made-36m-profit-on-royal-mail/

came out yesterday it seems, but no april fool unfortunately, just pure 'pigs in the trough' stuff
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I'm sure it's bigger than that with ICAP, run by former Conservative party treasurer and large Tory donor Michael Spencer, involved in the current LIBOR and foreign exchange scandals.

Lansdowne were or are minority shareholders in ICAP.
 
This time, incompetence and/or naivety are the excuse. With the railways it was the "need" to make the privatisation "attractive".
In the end, the outcome is always the same - public goods ending up in private hands for far less than they're worth, and what can we do about it, in terms of legal comeback? Fuck all, that's what.
 
If I was a money grabbing self glorifying dickhead I'd be running around hoovering everything up too. No one is stopping them in any way whatsoever.
 
Bahnhof Strasse said:
Gidiot's best man making 30 million pounds from this is just one of dem weird fings in life, like the tides of the sea and why we ain't stringing the whole fucking lot of them up!
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It would be a good launch for Swingers' Club™
Postman Pat for hangman.
:)
Noose.jpg
 
William of Walworth said:
First para in Hugh Muir's Guardian Diary today expresses 'curiosity' about a well-known former Minister's position in all this ...

I really like this 'carefully worded' ;) sentence ... :D
Click to expand...


Jesus fucking wept. This needs expanding:

Peter Mandleson tried to flog off Royal Mail when he was in government. The backlash prevented him from doing so.

The Con-Dems were determined to flog it off, so they turned to a financial advisory company and paid them £1.5MILLION to advise.

That company is LAZARD http://www.lazard.com/

LAZARD advised on selling at a criminally low price, with the lion's share going to a few close mates as they would be long term , stable shareholders. These long term, stable shareholders bought at the fire sale rate, then immediately sold for vast profits.

The chairman of LAZARD, Lord Mandleson.

Oink oink.
 
Everyone knows it's going to happen, nobody is surprised when it happens and everybody knows that nothing will ever be done about it.
Apathy has grown strong roots... nobody gives a fuck any more, because as Del Amitri said... Nothing Ever Happens.
 
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