Reader’s letter from City AM:
George Osborne’s new job
The reason that appointments like this are treated with suspicion is because there are many examples of corruption “with a little c” in government and the question arises whether BlackRock benefitted from the decisions George Osborne made while Chancellor.
If Osborne is worth the money he is being paid, then good luck to him, but don’t be surprised that questions are asked!
As if on cue, MBK emailed me this from yesterday’s Sunday Times:
The US funds giant that employs George Osborne on a £650,000-a-year contract is considering bidding for billions of pounds of taxpayer-backed student loans.
BlackRock is understood to be eyeing the debt portfolio, which was originally put up for sale in 2013 when Osborne reigned over the Treasury…
I’m sure we can all work out who the “little c” is.
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