Saturday 27th of April 2024

city pals .....

city pals .....

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. 

Among the businessmen who donated more than £50,000 to talk privately with him are Paul Ruddock of Lansdowne Partners and Michael Hintze of CQS.  

Both their firms made fortunes from betting that the price of Bradford & Bingley and HBOS shares would fall.  

Mr Hintze has donated more than £650,000 to the Tories since Mr Cameron became leader and Mr Ruddock has donated £259,500.  

Another fund which has admitted short- selling in Bradford & Bingley, GLG Partners, is managed by Pierre Lagrange. His wife Catherine has given £50,000 to the Tories.  

The Tories hit back by claiming that one of Gordon Brown's closest political allies, Paul Myners, was a director of GLG Partners. They also said Labour's £1million donor Jon Aisbitt, non-executive chairman of Man Group, one of the world's largest hedge fund managers, had 'profited handsomely' from short-selling. 

Tories 'Bankrolled By The City Wolves' Who Made A Killing From Financial Crash