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Naked Jon Richardson takes swipe at Rishi Sunak in new Labour election advert
The Independent
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2 years ago
Naked Jon Richardson takes aim at Sunak in new Labour election advertSource The Labour Party
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00:00
Do you know what Rishi Sunak did before he got into politics?
00:03
No.
00:04
Well, you're not supposed to.
00:06
Rishi Sunak would love for you to forget about how he made his millions before becoming an
00:09
MP.
00:10
He wants you to think it's too complicated to understand.
00:12
Or even better, that it isn't notable at all.
00:15
So here's John Richardson and the Bubble Bath to explain.
00:19
Basically before Rishi Sunak got into politics, he was a partner in a hedge fund.
00:23
Now that was amazingly profitable for him, but bad for pretty much everyone else.
00:28
The opposite of Robin Hood.
00:31
Cheers Mick.
00:32
Now in 2007, his firm took an interest in a struggling Dutch bank called ABN Amro.
00:39
This was the eve of the financial crisis.
00:41
No one should have touched that bank with a barge pole.
00:44
But Rishi's firm saw a chance to make a killing.
00:46
They bought a 2% stake, they wound up the other shareholders to demand the sale, and
00:51
the bank was placed on the market.
00:53
And guess who bought it?
00:55
Remember the Royal Bank of Scotland?
00:57
They paid billions for the bank, and in the process inherited a shed load more toxic subprime
01:02
mortgage assets.
01:03
It's been described as the worst deal in British corporate history.
01:07
But not for Rishi and his mates.
01:08
They made millions from the deal.
01:10
RBS was pushed to the brink of collapse and had to be bailed out by billions of pounds
01:15
of taxpayers' money, while Rishi went to California to count his coins.
01:19
The Conservative.
01:21
So Rishi Sunak was one of those bankers who made millions from a deal that helped trigger
01:26
the financial crash.
01:27
And all at the expense of the British taxpayer.
01:30
Got it?
01:31
Good.
01:32
Now let's f*** off, shall we?
01:37
[BLANK_AUDIO]
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