John Swift QC’s report confirms
banks including Lloyds and RBS/NatWest lobbied chancellor George Osborne and @hmtreasury to intervene to limit liabilities arising from the @TheFCA’s IRHP Review, even if it meant hanging customers out to dry. @Carlier_J87 jupiter87.com/2022/01/the-sw…
The mandate for the Swift Review was for an independent and comprehensive investigation that would establish all the issues relevant to the FCA’s IRHP Review, and establish what lessons could learned from it.
However because it omitted significant and substantial evidence and testimony from credible sources and witnesses, John Swift QC’s report has failed to achieve that, says @Carlier_J87
“It is further clear that this was by design, and that this report was produced on behalf of the same banks that exerted pressure to limit their liabilities, and on behalf of HM Treasury and The FCA which succumbed to that pressure,” says @Carlier_J87
Chancellor of the Exchequer George Osborne, the Treasury and the FCA and the leading British banks including NatWest, RBS and Lloyds Banking Group “participated in a conspiracy to defraud over 5,000 UK businesses,” says
@Carlier_J87.
“Go easy on the banks”. In his protected disclosure on the Swift Review, Paul Carlier also confirms the role of ex-Treasury minister (and current health secretary) @sajidjavid in seeking to dilute the IRHP review and deny 10,000 UK businesses compensation. independent.co.uk/news/business/…
FSA wrongly denied compensation to 10,000 British companies which were missold toxic financial products by UK banks. Osborne’s Treasury “interfered” to protect the banks, effectively denying redress to firms that were fleeced, then lied about it for years. thetimes.co.uk/article/fsa-wr…

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More from @Ian_Fraser

7 Jan
LBC should have sacked @maajidnawaz over a year ago. Instead, they let him continue to spread deranged conspiracy theories, bogus science, factual inaccuracies and disinformation about Covid for another 12 months. He blocked me when I called him out over this in December 2020.
By Feb 2021 there was already concern about Maajid Nawaz's state-of-mind, given he seemed to have fallen for dozens of conspiracy theories, including that Covid-19 lockdowns were a “global fraud” orchestrated by China’s CCP in order to impoverish the West theguardian.com/tv-and-radio/2…
Also in February 2021, producers and fellow presenters at @LBC were urging @Global management to “get a grip” as a result of Maajid Nawaz’s incessant endorsements of pro-Trump conspiracy theories.
Read 4 tweets
7 Jan
Tory peer Michelle Mone and her husband Douglas Barrowman *were* involved in a PPE business that was awarded more than £200m in government contracts after she referred it to the Cabinet Office, leaked documents suggest.
theguardian.com/world/2022/jan…
#MichelleMone #DougBarrowmam story on front page of Friday’s Guardian. The bra tycoon *was* secretly involved in her husband’s company Medpro, which she referred to UK goverment, despite months of denials. It went on to win £203m in PPE contracts h/t @hendopolis
Just how close is Baroness Michelle Mone to PPE Medpro, a company awarded £203m in PPE contracts via the government’s “VIP lane” just a month-and-a-half after the firm was set up in May 2020.

@jemimajoanna @AnnaSophieGross on the case two months ago. ft.com/content/a48727…
Read 4 tweets
1 Oct 21
Ed Balls was economic secretary to the Treasury, working alongside chancellor Gordon Brown, in 2006-7. In that role he was responsible for banking regulation. He was economic adviser to shadow chancellor Brown in 1994-7 and chief economic adviser to H.M.Treasury in 1997-2004.
As economic secretary to the Treasury in 2006-7 Ed Balls’ priorities were (1) champion the right of bankers to do whatever they wanted (he didn't seem to care about potential economic destruction or fraud) (2) ensure that the government and regulators kept off the bankers’ backs
All the visits that Royal Bank of Scotland chief executive officer Fred Goodwin had made to Ed Balls’ Westminster office were paying off...
Read 4 tweets
1 Oct 21
This guy used to be news editor of the Daily Express.
I mean it... Mike Parry was news editor of @Daily_Express, before becoming @PA news editor, and then @FAspokesperson. He has also co-presented a show on TalkSPORT with Mike Graham.
Mike “Porky” Parry’s other main claim to fame was that he nearly killed himself by trying to eat a tablespoonful of cinnamon.
Read 4 tweets
30 Sep 21
Malcolm Offord tried and failed to become an MSP in May 2021’s @ScotParl elections. Today, after donating nearly £150,000 to the Tories, he’s being ennobled handed a @UKGovScotland ministerial role.
Malcolm Offord, a Greenock-born financier who has donated nearly £150,000 to the Tories, was made a life peer and a junior Scotland Office minister over the heads of elected Scottish Tory MPs. theguardian.com/politics/2021/…
Boris Johnson is making a mockery of democracy in handing the millionaire private-equity investor Malcolm Offord, a man who has given £147,000 to the Tory Party, a life peerage and a ministerial job. mirror.co.uk/news/politics/… Image
Read 4 tweets
18 Sep 21
Nightmare on Nine Elms street as investors flee massive South London development of 55-storey residential towers. Property experts doubt the #VNEB development will ever be finished, despite the opening of new tube stations. via @BenGartside
telegraph.co.uk/business/2021/…
The success of the site, located in Vauxhall, Nine Elms and Battersea, largely hinges on Guangzhou R&F, a Chinese developer that's coming under mounting pressure because of its $52 billion debt pile, which @MoodysInvSvc downgraded earlier this month. telegraph.co.uk/business/2021/…
There are also worries that the Nine Elms development is too focused on glitz and spectacle rather than the realities of building a new London hub. “The regeneration is one hell of a leap of faith,” said a local property adviser. Good story by @BenGartside telegraph.co.uk/business/2021/…
Read 5 tweets

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