Boris Johnson has long been known for his opposition to any attempt to stop City hedge fund managers flushing the economy down the toilet all over again. Even the European Union’s modest hedge fund directive – labelled as having “more holes than a Swiss cheese” by the Party of European Socialists’ usually quote-unfriendly Poul Nyrup Rasmussen – is too much for him. Now we know why. PES research shows that over half of the £584,701 in donations Boris received for his mayoral campaign last year came from… City financial firms, mostly hedge funds. “Hedge funds are buying off the Tories and Boris Johnson, which shows that they want to remain above the law”, Mr Rasmussen told the Observer. Well, duh.
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