A whiff of familiarity in Mandelson’s 2009 collusion with the banks
For Labour veterans of the financial crisis the Epstein files revealed a betrayal – but 16 years on, is the City calling the shots? Today’s advocates of a windfall tax on the UK’s highly profitable banking sector detected a whiff of familiarity in Peter Mandelson’s suggestion, back in 2009,...
<p>For Labour veterans of the financial crisis the Epstein files revealed a betrayal – but 16 years on, is the City calling the shots? </p><p>Today’s advocates of a windfall tax on the UK’s highly profitable banking sector detected a whiff of familiarity in Peter Mandelson’s suggestion, back in 2009, that JP Morgan should “mildly threaten” the chancellor.</p><p>Feeding a Wall Street financier market sensitive titbits was an extraordinary breach of trust – <a href="https://www.theguardian.com/politics/2026/feb/03/peter-mandelson-resigns-from-lords-after-epstein-email-leak-scandal">perhaps even illegal, it seems</a> – but for Labour veterans of the financial crisis, Mandelson’s collusion with the banks against his own colleagues was the worst betrayal.</p> <a href="https://www.theguardian.com/politics/2026/feb/04/a-whiff-of-familiarity-in-mandelsons-2009-collusion-with-the-banks">Continue reading...</a>
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