Monday, 14 February 2011

Meet the silver spoon brigade

Tories auction off work experience placements at top City firms

It's so outrageous, it could be a Daily Star headline. Instead it's an expose in the Daily Mail of how the Tories have been auctioning off work experience - or internships to use the awful US jargon - placements at top City firms at their fundraising dinners.

Wealth Tories were paying up to £3,000 to buy their kids placements with hedge funds and other prestige City firms, with the money going to fund the Tory party. The auction took place at a dinner attended by Cameron and his wife.

Last week it was disclosed that more than half of the Tories’ £22.5 million donations last year came from City firms and bankers. When Mr Cameron became party leader in 2005, they supplied only a quarter of the party’s income.
The 900 Black and White Party guests paid a minimum £400 a head – £4,000 for a table for ten. It is believed the event raised £500,000 for the Conservative party.
Guests included Mr Cameron and his wife Samantha, Chancellor George Osborne, Tory treasurer Lord Fink and a host of City tycoons and socialites including Emma Pilkington, girlfriend of Carphone Warehouse boss David Ross, and Olympics fundraiser Helen Macintyre, who reportedly recently had a child by Boris Johnson.
Five lucrative City internships were auctioned off for £14,000.
They included Lot 4, a two-week internship at CMC Markets, offering an ‘incredible opportunity for a potential young trader to get an inside look at the world of international finance and online trading’.
It promised that ‘this much-sought- after experience will furnish the intern’s CV with a financial brand that is recognised the world over’. It went for £3,000.

We're all in it together? You're having a laugh.

UPDATE: This comment on the Daily Mail website summed it up:

We are told that the banks employ "the brightest and the best", when in fact they only employ the richest and the greediest. These rich morons probably teach their kids that no matter how bad you do at something, you should always expect a huge reward. That way, they fit straight into the banking sector.

1 comment:

Anonymous said...

Labour's the same, but their all sons and daughters of MPs and friends ... like the Kinnock kids.