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Streeting's £833-an-hour job with the biggest drivers behind the financial crash
by Solomon Hughes
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THE 10-year anniversary of the financial crash led to retrospective talk among pundits and politicians about whether the banks got away with it.
But for the banks, it was business as usual, offering money and support to politicians. Labour MP Wes Streeting, an influential backbencher with a seat on the Treasury select committee, listed a £5,000 payment from JP Morgan for speaking on a panel at its London High Yield Conference this September.
Streeting says the work took six hours, so that’s an £833-an-hour rate from the bank. JP Morgan was one of the bigger sinners of the crash: it was fined a record $13 billion in 2013 for misrepresenting the bundles of “toxic” mortgages it sold to investors as good investments.
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