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Showing posts with the label Londongrad

Londongrad

Vladimir Putin’s savage attack on Ukraine has brutally brought to the fore the phenomenon known as “Londongrad”. Much excellent reporting in the past decade has revealed how corrupt elites from around the world launder looted money in the west. In  Butler to the World , [Oliver] Bullough takes the UK to task.  Butlering goes far beyond accepting deposits from the world’s corrupt: it extends to procuring (palatial) housing for them, educating their children, honouring them in every way from naming rights at Britain’s world-class universities to royal patronage, as well as catering to all the minor needs the super-rich might need. Bullough describes a postwar City of London determined to insulate itself from government regulation, ready to embrace innovations that would mean good business for financiers. He also highlights how in a world of hard currency shortage — withholding dollars was the means by which Washington made London give up Suez — there was a lot to like in allowing cross-b