Greensill Capital lobbied Canberra as COVID raged afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Julie Bishop sidesteps as David Cameron gets skewered
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Lex Greensill’s once-burgeoning financial empire, former British prime minister
David Cameron hasn’t caught a break.
The Times of London has dubbed his work for the “controversial financier” as “the biggest lobbying scandal in a generation”. At Bloomberg, his “Greensill escapade” is a “sorry tale” that “demeaned his former office”. In the
Cameron’s associations with Greensill while in office and his previously expressed concerns over the pervasion of lobbying make his situation more stark. But the opprobrium heaped on him still makes for extraordinary reading when you consider the ease with which his counterpart Down Under has been able to avoid the Greensill taint entirely.
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How the Greensill empire was brought down
Skittish insurers, wary fund managers, a suspicious regulator and a sceptical press created a pile of tinder that only needed a few sparks to start a fire.
Lex Greensill’s financial empire has imploded spectacularly in the space of a week.
Peter Braig
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German regulators closed the bank that anchors AFR Rich Lister Lex Greensill’s global finance business and a criminal complaint was filed in a German court. One of Greensill’s most lucrative clients, British billionaire Sanjeev Gupta, no longer wants to pay Greensill’s bills.
Sometime this weekend, the 10-year-old firm, which specialises in the arcane practice of buying invoices and packaging them into bonds, may sink completely.