Off Topic Politics Thread

  • Please bear with us on the new site integration and fixing any known bugs over the coming days. If you can not log in please try resetting your password and check your spam box. If you have tried these steps and are still struggling email [email protected] with your username/registered email address
  • Log in now to remove adverts - no adverts at all to registered members!
While they're screwing a couple hedge funds, the unfortunate reality is that most of the people who have bandwagoned this will lose big. Most aren't going to get out in time when the price implodes.

Edit: which, apparently, may happened about two minutes after I posted this.

Since I posted about this, someone put an “idiots guide” up, which has helped me to understand it a bit more. Maybe some will lose out but as the explanation shows, in this example, the share prices were pushed up by the “masses” buying them, then pushed up again when the hedge fund had to cover their short positions, which hopefully helped most of the masses come out of it ok.
Now, if only something like this would happen to Rees Mogg.

You must log in or register to see images
 
Our government gets more Trumpian every day. Now they have redefined what constitutes public interest. Here’s an email from Jolyon Maugham:



Hi Chilcs

Correspondence with Government has revealed they expect to spend a staggering £1 million defending our judicial review of their decisions to award contracts criticised by the NAO. This is a sum unprecedented in our lawyers’ experience of judicial review proceedings. We can’t but wonder whether they are trying to scare us off – using the bottomless public purse to avoid accountability to the public.

Government also says, remarkably, that finding out whether they acted lawfully in channelling hundreds of millions or billions to their VIP associates, is not in the public interest.

We had until recently been working on the understanding that we had raised enough money for our challenges to Government’s awards of hundreds of millions of pounds of PPE contracts to Pestfix, Ayanda, and Clandeboye.

We were shocked to learn that – having failed to provide the evidence we’ve been asking for since July – Government is threatening a vast disclosure exercise going well beyond what would normally be undertaken in a judicial review. And not just that they have hired an expensive international commercial law firm. They expect to have a team of 30-40 working for up to 3 months on an exercise that has not been requested by us, or by the Court.

In the experience of our legal team, costs incurred by Government in judicial review proceedings rarely exceed £100,000. Here Government says it has already spent over £325,000, and estimates their total costs will amount to £1 million – a staggering sum for a judicial review.

Government knows full well that we cannot take existential risk on bringing a single case. So we wrote to Government asking it to agree and order ‘capping’ both our costs and the taxpayers’ costs in these public interest proceedings.

We were shocked this week to receive their response contending that the litigation is not in the public interest, and refusing our proposed reciprocal cap: “In particular our client does not agree that the proceedings are ‘public interest proceedings'”. These are cases involving on Government’s own admission hundreds of millions of pounds being spent on unusable facemasks on companies that went through the VIP lane.

Not in the public interest? What are they on!

The point is all the more remarkable given that a barrister employed by the Government Legal Department in her witness statement of 30 November stated that: “We acknowledge that there is considerable public interest in Covid related procurement, particularly of PPE.”

We have now applied to the court for a Cost Cap. In line with our transparency principles I am publishing my Witness Statement. But if we don’t get one, unless a white knight or white knights emerge, the simple fact is we will have to abandon the litigation. We are not in a position to bear a £1 million risk.

Thank you,

Jolyon Maugham QC
Director of Good Law Project

Good Law Project is able to carry out its work thanks to donations from thousands of people. If you are in a position to do so, you can make a donation here:

Donate
3 East Point High Street
Seal
Sevenoaks, TN15 0EG
United Kingdom


Privacy Policy
Unsubscribe

You must log in or register to see images


You must log in or register to see images

You must log in or register to see images

Utter bastards! They just don’t care do they? They are totally unaccountable to us, the electorate, can basically do what they want with OUR money (raised through taxation) and, if they’re challenged, they can use bully boy tactics to try and scare off any questioning.
It’s official - the U.K. government are now in full fascist dictatorial mode!! :emoticon-0121-angry:emoticon-0121-angry
 
While they're screwing a couple hedge funds, the unfortunate reality is that most of the people who have bandwagoned this will lose big. Most aren't going to get out in time when the price implodes.

Edit: which, apparently, may happened about two minutes after I posted this.

And, sadly, quite a few private and company pensions are tied into these hedge funds, whether you like it or not
 
Undoubtedly a colossal toss up from the EU here, they have already started backtracking.

In the wider Brexit context its still something like 119-1 to the EU mind. Totally unsurprisingly for the first actual real Brexiteer 'victory' of the whole last 4 years, it is still something that manages to be bad for the UK.
 
Utter bastards! They just don’t care do they? They are totally unaccountable to us, the electorate, can basically do what they want with OUR money (raised through taxation) and, if they’re challenged, they can use bully boy tactics to try and scare off any questioning.
It’s official - the U.K. government are now in full fascist dictatorial mode!! :emoticon-0121-angry:emoticon-0121-angry
I wonder if it could be argued that battering a fox and tweeting about it could be bully boy tactics?