Lex greensill

The rotten core of Credit Suisse

The tale of Credit Suisse ought to be Buddenbrooks on steroids. A staid Swiss lender enters marriage with a racy Wall Street investment bank and gives birth to a monster. Scandal follows scandal. CEOs come and go. In March 2023, the bank ends up being flogged to its arch rival UBS for a miserly $3 billion. Inside Credit Suisse, the backstabbing and treachery were more suited to a medieval court Duncan Mavin is well placed to tell this corporate horror story, having written a book about one of Credit Suisse’s most notorious clients, Lex Greensill, an Australian melon farmer turned fintech champion. Greensill Capital, which employed David Cameron as a

Sunday shows round-up: Cameron’s behaviour ‘is acceptable’, says Environment Secretary

George Eustice – David Cameron’s behaviour ‘is acceptable’ Both Andrew Marr and Sophy Ridge were joined this morning by the Environment Secretary George Eustice – and much of their conversations focused on the recent lobbying debacle sparked by the former Prime Minister’s texts to the Chancellor Rishi Sunak. Cameron was attempting to secure support loans on behalf of the financial services firm Greensill Capital, but was unsuccessful and the business filed for insolvency in March. Marr questioned Eustice over whether the current lobbying rules were too soft and ineffectual: AM: Do you think that what David Cameron has done is acceptable? GE: …Well, it is acceptable because [it was] within

What happened to Cameron’s original retirement plan?

When David Cameron started contemplating life after Downing Street, he settled quite quickly on a model of what it should look like. He would stay on the backbenches, providing advice and wisdom to whoever came after him, earn a little bit of extra money while still working as an MP, and continue in public service with charities and others. In 2016, he outlined his approach to me as we sat in a cafe in Witney, and I wrote it up in my book, Why We Get The Wrong Politicians: He mourned the number of former ministers who had departed at the 2015 election, and suggested that you could do other

The shoddy cynicism of Cameron’s lobbying

Call me naively cynical, but when reports of David Cameron’s lobbying larks emerged, I gave a little shrug. ‘Ex-politician uses contacts to make money’ sounds like a description of our political culture rather than a hard-hitting news headline. Perhaps it is a little grubbier when a former prime minister is caught lining his pockets — but only because those pockets are supposed to have been cut by a higher class of tailor.  Cameron used his heaving address book to press ministers on behalf of Greensill Capital, a company involved in the game of contractual jiggery pokery called ‘supply chain finance’ (which sounds suspiciously like corporate rent seeking). But he was