🚨On 5 March 2020, David Cameron wrote to the Bank of England, saying: "I do a lot of work with Greensill Capital, now the world leaders in this space. We would be keen to help. . ."
In a separate email he said: "We would be keen to step and help during the current difficulties"
In a separate email he said: "We would be keen to step and help during the current difficulties"
https://twitter.com/Gabriel_Pogrund/status/1385234783425417220
On 9 March, Jon Cunliffe, agreed to meet Cameron/Greensill so they could present their ideas to him directly.
"Cameron explained how Greensill Capital worked, and asked if he and Lex Greensill could come in to brief Jon and other about this. Jon agreed."
bankofengland.co.uk/-/media/boe/fi…
"Cameron explained how Greensill Capital worked, and asked if he and Lex Greensill could come in to brief Jon and other about this. Jon agreed."
bankofengland.co.uk/-/media/boe/fi…
On 16 March, Greensill told the Bank of England about his NHS payday scheme, saying: "We . . .have agreed to pay all NHS employees and contractors daily."
There was no such agreement at the time, nor was there ever one.
At a push a few thousand out of 1.4m NHS staff used it.
There was no such agreement at the time, nor was there ever one.
At a push a few thousand out of 1.4m NHS staff used it.
On 17 March, Cameron and Greensill held a call with the Bank, in which, it seems, they acknowledged an underlying reason for their sudden lobbying.
Minutes state: "Greensill Capital explained that that they were coming under significant pressure in current market conditions.."
Minutes state: "Greensill Capital explained that that they were coming under significant pressure in current market conditions.."
"Although banks were continuing to buy their securities (at higher spreads), fixed income investors had stopped amidst a flight to cash."
Lobbying in action. On 4 April, Jon Cunliffe writes to Cameron: "I understand you talked to the Chancellor and that there will be now further discussions with Lex Greensill."
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