Steve Bolton of Legal & General Investment Management who’ve just lent the city £125m describes the Culture Mile and related projects as ‘regeneration’ but we’ve heard that one before – what this really means is the marginalisation and social exclusion of anyone who isn’t rich. Here we reproduce Bolton’s Halloween trick or toxic treat message as reported in one branch of the corporate media.Read more "City Of London Residents Get A Choice Between Halloween Trick or Toxic Treat"
There is nothing peculiar about the fact that the City of London council are lending a private school more than £15million – subject to the same local authority granting planning permission for the scheme it already backs – while simultaneously seeking £30million in cuts from its parks and other budgets, and when it has just secured £450million in external loans for unwanted vanity/legacy projects such as the proposed Centre For Music. This rotten borough lobbies globally for neo-liberal policies that benefit the super-rich at the expense of everyone else, so its willingness to underwrite the expansion of an elitist school – to the detriment of London’s architectural heritage and against the interests of the local community – reflects perfectly its aims and priorities.Read more "Ongoing Fiasco Over City of London School For Girls Expansion"
Years of forecast deficits for the City Fund caused partly by policing costs and uncertain funding from central government mean that the corporation is embarking on a “fundamental review of its priorities and expenditure” in an attempt to put its finances on a more stable footing, according to a report by Jeremy Mayhew, head of the corporation’s finance committee.Read more "City of London Cash Crunch"
He may not have been to Eton or have a great grandfather and grandfather who’d been Lord Mayors of London like William Russell, but Tim Hailes is another perfect candidate for top office as far as the City of London establishment is concerned. Hailes has worked for J P Morgan since 1999 where he is a Managing Director & Associate General Counsel in the Legal Department. He’s also a liveryman, a freemason (most Lord Mayor’s belong to this men only club) and no longer a Tory student activist (he was as a young man). Since conservatives in the City stand as independents, and not all of them want to overtly display any political colours, those who don’t belong to the Tory party – even if they once did – can group around The Royal Society of St George. Timothy Russell Hailes, alongside quite a number of his fellow City councilors, is a member of this ‘minor English institution’.Read more "Tim Hailes & The Bizarre Twists & Turns of ‘Patriotism’ in the City of London"
GLERA calling for Mark Boleat to resign represents a start to dealing with this scandal, but it is not enough! All those with a seat on the City of London council who aren’t prepared to defend democracy from Boleat’s attacks on it should go immediately; although whether any will agree to resign is a moot point. That said, as the most prominent ‘face’ right now on a local council that has financially supported the Housing & Finance Institute, it is Catherine McGuinness who should be the focus of our disquiet. And so our most immediate demand is: “McGUINNESS MUST GO!”Read more "Mark Boleat’s Attack On Democracy: Catherine McGuinness Must Go Too!"