When is a wunch not a wunch?

Courtesy of David Cameron this week, we now know there are two types of city financier.

The first, epitomised by Sir James Crosby, is the sort of shyster that only a Prime Minister with a serious lack of judgement would dream of putting in a senior role.

The second, epitomised by Sir David Freud, is “a hugely impressive figure” worthy of an insta-peerage (this is the new type of peerage introduced in 2006 where party leaders get to magically give people a lifetime seat in the legislature for doing something Important – such as accepting a job or defecting. If you struggle to recall when the public debate for this new type of appointment took place, forget it, it didn’t happen).

Of course, this is the same Sir David Freud who brags about the misselling of Eurotunnel shares as “successfully [selling] the market a pup.” Who went on to do it all over again over Railtrack.

Anyone else struggling to tell the difference?

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