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Tony Blair Creates Own Bank

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Tony's not working for the bankers - he's becoming one. Article in The Times today apparently, but behind the paywall.

Here's some background from the Kuwait News Agency

Blair forms finance boutique

Politics 8/22/2010 11:35:00 AM

LONDON, Aug 22 (KUNA) -- Former British Prime Minister Tony Blair has formed his own finance boutique in London to offer investment services to global funds and the super-rich, it was revealed here Sunday. His Mayfair-based company has recruited senior financiers and has been authorised by the Financial Services Authority (FS), the Sunday Times newspaper reported. It will effectively be a fledgling investment bank.

News of the former British prime minister's diversification into finance will help to explain how he can afford to give away the estimated five million pounds proceeds of his memoirs, a Journey, to the Royal British Legion. His predecessors in Downing Street have relied on their books to provide for their retirement.

Since leaving office in 2007, Blair has amassed a fortune estimated to be in excess of 20 million pounds. He has combined his role as a roving statesman with charitable work and paid advisory roles.

He first launched the Tony Blair Associates consultancy, he said it would provide "strategic advice on both a commercial and pro-bono basis, on political and economic trends and government reforms". It has provided advice to the Kuwait government and to Mubadala, a sovereign investment fund in the United Arab Emirates.

It is now able to offer a range of financial services to clients. His investment firm is just one of a string of companies -each called either Windrush or Firerush - that he created after leaving No 10.

One of these companies, Firerush Ventures No 3, was registered with the FSA in January this year. There was speculation that the company would manage his own private portfolio, but documents seen by The Sunday Times show that it can offer financial services to clients and will trade as TBA.

Some of Blair's key staff have registered with the FSA, so they are authorised to manage a financial firm or offer services to clients. They include Catherine Rimmer, who worked in the research unit at Downing Street, and Jo Gibbons, a former government adviser who is now Blair's director of corporate affairs. Jonathan Powell, Blair's former chief of staff, who is a managing director at Morgan Stanley, is registered at the FSA for Firerush.

Blair's office also recruited Mark Labovitch last month to be chief operating officer at Firerush. He previously worked at Dresdner Kleinwort, an investment bank, at LongAcre Partners, the corporate finance adviser, and most recently at Mesa Global, the investment banking boutique. Firerush is authorised to trade across Europe, including the tax havens of Luxembourg, Liechtenstein and Gibraltar. Blair's office declined to comment on whether he would be offering services to clients investing funds offshore.

Blair appeared to have become enamoured with the lifestyle of the rich while in office. He stayed at the homes of Sir Cliff Richard and Robin Gibb, the pop stars, and was a holiday guest of Silvio Berlusconi, the Italian prime minister and tycoon.

Once free of the shackles of being a Labour prime minister, he was able to indulge his tastes. In 2008 the Blairs holidayed with Tom Hanks and Steve Martin in Greece, after an introduction by their mutual friend David Geffen, the Hollywood mogul.

Last summer Blair spent part of a Mediterranean holiday on the yacht of Larry Ellison, the founder of Oracle, the computer giant. He also stayed at a private game reserve in South Africa owned by Sir Richard Branson.

Even before he left office Blair started amassing an extravagant property portfolio. He bought a 3.65 million pound townhouse in Connaught Square in west London and spent 5.6 million pounds on a country house in Buckinghamshire, outside London, once owned by the actor Sir John Gielgud.

His wife, Cherie, spent more than 250,000 pounds on Georgian and Regency furniture for the 18th-century property.

They also acquired an 800,000 pound mews house next to the Connaught Square property and were able to pay cash for a 1.13 million pound mews house in London for their second son, Nicky.

As well as his private sector work, Blair receives a taxpayer-funded pension of 63,468 pounds a year and an annual 84,000 pounds allowance to run a private office. Last month an embarassing leak disclosed that it costs the taxpayer six million pounds a year to pay for Blair's five-strong team of protection officers from Scotland Yard. Their expenses alone added up to more than 250,000 pounds a year as they accompanied him around the world.

Blair's private sector work to date has mainly been in the financial sector, including advisory roles with JP Morgan and Zurich Financial Services. TBA is likely to promote its investment services to funds and wealthy investors. Accountants say some of the eight Windrush and Firerush companies created by Blair's office enjoy the advantages of corporate tax rates without having to file conventional accounts. The limited partnerships in the network, which include Firerush Ventures No 3, are not obliged to publish accounts .

A spokesman for Blair said TBA had registered with the FSA because its work could potentially come under its remit. (end) he.aj KUNA 221135 Aug 10NNNN

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So much for the FSA vetting the suitability of financial firms officers and ensuring they have the necessary financial qualifications.

What he needs to do next is get a deposit taking licence so he's able to guarantee his mates can have access to taxpayer support when it all goes TU.

The man's been a shameless user from day 1. What amazes me is how anyone ever thought any different. He's as transparent a sheister as they come. Perfect IB material in fact.

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So much for the FSA vetting the suitability of financial firms officers and ensuring they have the necessary financial qualifications.

What he needs to do next is get a deposit taking licence so he's able to guarantee his mates can have access to taxpayer support when it all goes TU.

The man's been a shameless user from day 1. What amazes me is how anyone ever thought any different. He's as transparent a sheister as they come. Perfect IB material in fact.

True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

I do not like this man....

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Would you say he was better or worse than Gordon Brown? I find it hard to choose.

Worse. Gordon Brown was a mentally unbalanced incompetent. Blair is also mentally unbalanced but was always deliberately, systematically out to line his own pocket at any cost.

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True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

I do not like this man....

Don't mince words man-tell it like it is.

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Would you say he was better or worse than Gordon Brown? I find it hard to choose.

Nah, Gordon Brown is far more well meaning than TB could ever be. He was a bit of a simpleton at times and was dealt a raw deal as the cunning, deceptive narcissist TB passed the buck just as TSHTF. I think history will look more kindly on GB in the context of things.

As a side issue my mate taught at the London Oratory and met Tony and Cherie a number of times at parents evenings for Euan. He thinks TB is a slimeball, didn't absorb a word he said and was far more interested in being the centre of attention/ making 'contacts' than anything his son was doing.

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The man's been a shameless user from day 1. What amazes me is how anyone ever thought any different. He's as transparent a sheister as they come. Perfect IB material in fact.

+1

Tax those who make money from their public service like he does at a higher rate...

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And people ask why wasnt anything done to tame the bankers excesses....

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True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

I do not like this man....

+1

and extraordinarily at one time notionally a socialist................

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Frustrated about not being able to tax people up to the eyeballs, Tony Blair now seeks to steal from them by turning to money lending - the next best thing. Wonder how long it will be before he starts doing those payday loans?

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The universal set would include the outside so I disagree from a purely mathematical stance as the relationship would no longer hold.

id disagree, the guy is a god,therefore omnipotent, he can even play the guitar

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Nah, Gordon Brown is far more well meaning than TB could ever be. He was a bit of a simpleton at times and was dealt a raw deal as the cunning, deceptive narcissist TB passed the buck just as TSHTF. I think history will look more kindly on GB in the context of things.

I am 100% sure that Adolf Hitler also meant well.

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True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

I do not like this man....

Oh Lucifer, I thought he'd be in your camp!

He's just been a front man soap actor, covering up for Brown's appalling spendthrift ideology. The luckiest chancellor in history was actually the worst! Now which do we like least?! Well, I suppose Brown was just a total idiot and Blair was just a morally bankrupt barrister turned politician, no more Labour than Margaret Thatcher, yet so self interested he did not care and saw his chances as best with Labour. But wait.....only last week we hear Brown is going on the speaker circuit for $100,000 a go! So, after telling us he'd want to do charity work in opposition, he too cannot stop himself, helping himself. Why anyone would want to hear him speak atall is beyond me, let alone pay for it! What could he say of any worth?

The saddest part of all about Blair, is that he rode into Downing Street with such a clean cut image, in the aftermath of John Major and the so called 'sleeze' as if he was some breath of fresh air in modern politics. Major's govt is now receiving the history it deserves - well run, thrifty and stable...and the sleeze? Only a bit of something under the desk between Major and Edwina. Only calling his cabinet Bas....s. In fact nothing worth worrying about atall was it?

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True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

I do not like this man....

yeah but, apart from that, he's a good egg, isnt he.

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Nah, Gordon Brown is far more well meaning than TB could ever be. He was a bit of a simpleton at times and was dealt a raw deal as the cunning, deceptive narcissist TB passed the buck just as TSHTF. I think history will look more kindly on GB in the context of things.

As a side issue my mate taught at the London Oratory and met Tony and Cherie a number of times at parents evenings for Euan. He thinks TB is a slimeball, didn't absorb a word he said and was far more interested in being the centre of attention/ making 'contacts' than anything his son was doing.

Can a compulsive liar be well meaning?

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True, a genuinely unpleasant person, selfish and borderline psychotic, a murderer, a conman, spiritually rotten, a soulless modern day vampire gorging off the blood of the innocent...utterly lacking in conscience and compassion, an empty void filled only with greed, self interest and ambition. A creature of the devil, a reincarnation of evil.

for goodness sake man, get off the fence!

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Oh Lucifer, I thought he'd be in your camp!

He's just been a front man soap actor, covering up for Brown's appalling spendthrift ideology. The luckiest chancellor in history was actually the worst! Now which do we like least?! Well, I suppose Brown was just a total idiot and Blair was just a morally bankrupt barrister turned politician, no more Labour than Margaret Thatcher, yet so self interested he did not care and saw his chances as best with Labour. But wait.....only last week we hear Brown is going on the speaker circuit for $100,000 a go! So, after telling us he'd want to do charity work in opposition, he too cannot stop himself, helping himself. Why anyone would want to hear him speak atall is beyond me, let alone pay for it! What could he say of any worth?

The saddest part of all about Blair, is that he rode into Downing Street with such a clean cut image, in the aftermath of John Major and the so called 'sleeze' as if he was some breath of fresh air in modern politics. Major's govt is now receiving the history it deserves - well run, thrifty and stable...and the sleeze? Only a bit of something under the desk between Major and Edwina. Only calling his cabinet Bas....s. In fact nothing worth worrying about atall was it?

In my camp? Blair? God forbid!

Interesting what you say about Major..I always thought that history would actually judge him and his government kindly.

Unlike Blair who will be judged as the mass-murdering, grifting, corrupt pig that he is.

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  • 150 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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