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The Big Swindle: Another piece of evidence bank "failures" aren't what they appear

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Ah Xoc Kin Donating Member (143 posts) Send PM | Profile | Ignore Mon Sep-29-08 10:12 AM
Original message
The Big Swindle: Another piece of evidence bank "failures" aren't what they appear
Edited on Mon Sep-29-08 10:29 AM by Ah Xoc Kin
29th September 2008

Tories 'bankrolled by the City wolves' who made a killing from financial crash

The Tories are under fire after it emerged they have been bankrolled by City 'wolves' who have made a killing from the financial crash.

The party has received hundreds of thousands of pounds from hedge fund managers who raked in vast sums by short-selling shares in British banks.

Party leader David Cameron has apparently accepted almost £2million from the wealthy financiers who are members of his exclusive 'Leader's Group' dining club.

Short-selling involves traders betting that the value of shares will fall. They borrow the shares for a fee, sell them and then buy them back at a cheaper price if the share price tumbles.

http://www.dailymail.co.uk/news/article-1063761/Tories-bankrolled-City-wolves-killing-financial-crash.html

Summary:
Hedge fund guy: I'll share X percent with you if you keep your
mouth closed about these tottering on-the-brink banks

Politician: ok
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