By Anne North There is an old saying in journalism, and politics: “follow the money.” It is the perfect answer to anyone who thinks accountancy is dull. One of the…
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EXCLUSIVE: That’s the way the money goes – how Cornish taxpayers helped finance Donald Trump’s election victory, loaned cash to paedophile Jeffrey Epstein, and other scandals too numerous to mention
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This is, of course scandalous, but you also allude to another aspect – “On investments, £322 million is gambled on a mixture of other UK local councils and banks”.
Hang on! “other UK local councils”.
So our council lends our money to other councils instead of using it for desperate needs here in Cornwall. What’s that about? Do other councils lend money to Cornwall? Isn’t this exactly what financial scandals are built on – institutions lending each other money in a corrupt circle? Sounds decidedly dodgy – I’ll lend Peter a fiver and charge him 10p, Peter will lend it to Mary, charging her 10p, Mary lends it back to me for 10p. Who is getting rich here? – oh yes, the banks and lawyers who charge fees for setting up and ‘managing’ these arrangements.
Stop feeding these parasites!
Of course a former high-flyer at Deutsche Bank is now (well, hopefully not after tomorrow!) in charge of all of UK finances, one Sajid Javid!