What happens if Liebour goes under?
The One Eyed Wonder of Wankistan yesterday pledged to repay the £664,000 in illegal donations that his party knowingly took from David Abrahams.
The Labour Party has outstanding debts of £29,178,692 – nearly £29.2m. Does Labour have sufficient liquidity to meet loan repayments? No, it has had to restructure some of its loans. Does it have sufficient assets – property, cash reserves, guarantors – to repay its debts? No, it has very few assets. The Liebour Party is insolvent.
Jon Mendelsohn, Liebour’s chief fundraiser, apparently knew that the donations were illegal and that Abraham’s dodgy donations weren’t a one-off. Mendelsohn is in charge of finding cash for elections and is No Mandate Brown’s personal fundraiser.
The donations were illegal because the money came from Mr Abrahams but were donated through third party’s without disclosing their origin to the Electoral Commission. But it doesn’t stop there. One of the third party’s, Janet Dunn, says that she knows nothing about the donations made in her name and is actually a Conservative supporter.
But there’s more. During the deputy leader’s “election” campaign, Abraham offered donations to Hillary Benn and Harriet Harman via a third party. Hillary Benn refused the money until it was donated in Abraham’s name but Harman accepted the donaton. Harriet Harman is married to Jack Dromey, the Treasurer of the Liebour Party.
This kind of scandal would bring most government’s down. It is a testament to the patience (or should that be intolerable stupidity and disinterest) of the English that the Liebour Party still exists, let alone remains in power. Lies, fraud and corruption are rife in the Labour Party and the British establishment as a whole.
What happens if a large creditor – the Unity Trust Bank for example – decides to call in its loans? Liebour hasn’t exactly been union friendly this time round and they shouldn’t rely on union support forever – it’ll carry on for as long as they are useful to each other and no longer (Unity Trust Bank is a union bank). If the Liebour Party no longer exists can a Liebour government continue to run the country?
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by wonkotsane on Wednesday, November 28th, 2007 at 2:24 pm and is filed under Labour, Sleaze and is .
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I think they will stop being the ‘labour party’ and become somrthing else.
Remember it is not the Labour party who runs the country, it is their 400 odd MPs.
I wonder what their new name would be?
November 28th, 2007 at 6:34 pmThe Scottish Mafia?
November 28th, 2007 at 8:04 pmA better name for New Liebore would be the Capital Party…
Labour going bust would be great. Chances are it would be limited to the party in England – the parties in Scotland and Wales can survive.
You don’t suppose that they’d go to the Bank of England and ask for a bail out do you?
November 29th, 2007 at 12:28 amRemember it is not the Labour party who runs the country, it is their 400 odd MPs.
They don’t have 400 MPs. They just scraped a majority last time.
The Scottish Mafia?
Nice one.
You don’t suppose that they’d go to the Bank of England and ask for a bail out do you?
More likely to be the Bank of the English Taxpayer more like. Force through state funding of political parties using emergency powers on the premise that the collapse of Liebour would be detrimental to public order and the continuance of the democratic process. Probably something about terrorism as well just for safe measure and a moratorium on elections for an orderly transition.
November 29th, 2007 at 8:06 am