Monday, March 10, 2008

Labour to be run by Finance !

Apparently the Labour party has just appointed David Pitt-Watson as the new general secretary of the Labour Party.

Get this: Mr Pitt-Watson is a financier in the City who is chairman of Hermes Equity Ownership Service which is a major shareholder in Northern Rock. !

Can you think any of the bothers know what a conflict of interest is ? Or maybe they're just to desperate for cash, but then that's why they need a new general secretary anyway.

There is an interesting relationship between Labour and some financiers in the city that hasn't been adequately explored or explained. I've heard hints from people who work in that area, but no quotable specifics. The, until very recently, favourable legislative climate for such institutions must surely be a coincidence.

Update: Guido has more details - including the privately educated Oxford graduates doination to the "Only Gordon" Labour party coronation campaign here...

Update: See Phillip Blond's comments in the First Post on Labour's love of the uber rich and hedge fund managers.


Anonymous said...

Gordon can't suck up to the City, though - the Unions would never forgive him and neither will the Labour faithful.

Alistair Darling's non-doms proposals will drive people out of this country, but the socialists are happy to see it and damn the consequences.

Man in a Shed said...

The thing is my understanding is that he has sucked up the city, or rather the new Labour project did.

There is something in the nature of the work done in the city that gives it a large supply of rich socialists. Maybe its guilt.

Your right the Unions should be furious, but they aren't then men they once were.