276°
Posted 20 hours ago

The Pyramid of Lies: Lex Greensill and the Billion-Dollar Scandal

£9.9£99Clearance
ZTS2023's avatar
Shared by
ZTS2023
Joined in 2023
82
63

About this deal

Boris Johnson has admitted for the first time that he attended a Downing Street party while the country was under strict Covid restrictions.

Pyramid of Lies by Duncan Mavin - Pan Macmillan

Mark Lehner (2008). The Complete Pyramids: Solving the Ancient Mysteries. Thames & Hudson. p.34. ISBN 978-0-500-28547-3. Archived from the original on 12 February 2020 . Retrieved 1 July 2015. NATHAN HUNT: I have to wonder what on earth was the former Prime Minister of the U.K. David Cameron doing wrapped up in Greensill Capital. Why was he involved in this? The firm’s founder, Lex Greensill, and a handful of early investors collectively took hundreds of millions of dollars in cash out of the business. They were rich, and Lex made sure everyone knew it. Lex, he had a small bank in Germany, but he wasn't a bank. He needed to find funding from somewhere to pay for these supply chain finance transactions. And so he was looking for investors for that. And Credit Suisse came along and became the biggest investor in those funds. So Lex had sort of latched on to them around 2017, found a couple of portfolio managers, persuaded them that supply chain finance was a great asset class. It paid a little bit more yield than money market funds, but done properly, it could be just as safe or just a little bit riskier.It just became too big. And such a major part of Greensill's business was heavily reliant on what Sanjeev Gupta was up to. And that business now is under investigation by the SFO in the U.K. And so clearly, there was a problem there. DUNCAN MAVIN: This is also kind of really key to Lex Greensill, right? So you and I might call out a lie. He might say, well, look, I was in the White House, and I gave some advice. So is it really a lie? I think this is also -- you're getting to the heart of one of the real problems with exactly this sort of business. And by this sort of business, I mean, fast-growing tech businesses with kind of visionary founders where there is a reward for them to saying -- making outlandish claims, pushing their reputation and their ambitions as far as it will possibly. The name for a pyramid in Egyptian is myr, written with symbol 𓉴 ( O24 in the Gardner Sign List). Myr is preceded by three other signs used as phonetics. The meaning of myr is unclear, as it only self-references the built object itself. By contrast architecture of similar function like 'temple', per-ka, is a compound of 'house' and 'soul'. It has been speculated myr belongs to a class of words like djed and ankh, which refer to objects already in existence when the Egyptian language split off from afroasiatic. [ citation needed] A typical translation of myr is given as 'High Place'. By graphical analysis, myr uses the same sign, O24, as benben. The benben is the mound of existence that rose of out of the abyss, nun, in the Egyptian creation myth. The relationship between myr and benben is further linked by the capstone architectural element of pyramids and obelisks, which was named benbenet, the feminine form of benben. Speaking in the Commons on Wednesday, the Prime Minister offered his “heartfelt apology” for attending the “bring your own booze” gathering in the Downing Street garden on 20 May 2020. Lex Greensill had a simple, billion-dollar idea - democratising supply chain finance. Suppliers want to get their invoices paid as soon as possible. Companies want to hold off as long as they can. Greensill bridged the two, it's mundane, boring even, but he saw an opportunity to profit. However, margins are thin and Lex, ever the risk taker, made lucrative loans with other people's money: to a Russian cargo plane linked to Vladmir Putin, to former Special Forces who ran a private army, and crucially to companies that were fraudulent or had no revenue.

The Pyramid of Lies by Duncan Mavin review – the disgraced

A very well written account of a very complicated business that can be understood by anybody. There are explanations for all technical matters so that you are never left in doubt as to what was really going on. The Egyptian pyramids are ancient masonry structures located in Egypt. Sources cite at least 118 identified "Egyptian" pyramids. [1] [2] Approximately 80 pyramids were built within the Kingdom of Kush, now located in the modern country of Sudan. Of those located in modern Egypt, most were built as tombs for the country's pharaohs and their consorts during the Old and Middle Kingdom periods. [3] [4] [5]South of the main pyramid field at Saqqara is a second collection of later, smaller pyramids, including those of Pepi I, Djedkare Isesi, Merenre, Pepi II and Ibi. Most of these are in a poor state of preservation. He has never issued a public apology to Ms Wyatt. Her mother later claimed Ms Wyatt was forced to have an abortion as a result of her relationship with Mr Johnson. Jennifer Arcuri Boris Johnson has never publicly admitted to his alleged affair with US tech entrepreneur Jennifer Arcuri (Photo: Eugene Metreveli)

The Pyramid of Lies: The Prime Minister, the Banker and the

A view of the Giza pyramid complex from the plateau to the south of the complex. From left to right, the three largest are: the Pyramid of Menkaure, the Pyramid of Khafre and the Great Pyramid of Giza. The three smaller pyramids in the foreground are subsidiary structures associated with Menkaure's pyramid. Famous pyramids (cut-through with internal labyrinth layout); the Layer Pyramid is mislabeled as that of Unas It is not often that ones niche sector gets covered through a book. This has been quite well researched and does give good detail though am unsure how much o The revelation marks the latest in a string of scandals for Mr Johnson, and an arguably longer string of excuses. Lex was, he said, skilled in law, wireless applications, international trade, insurance, capital raising, sales and marketing, public speaking, written communications, corporate governance, training, organization and management, the etiquette of shareholder and board meetings, and in navigating Asian markets. He’d worked with teams in Australia, New Zealand, Japan, China, Hong Kong, Macau, Thailand, Pakistan, Philippines and Austria. Edwards, I. E. S., The Pyramids of Egypt Penguin Books Ltd; New edition (1991), ISBN 978-0-14-013634-0

Main article: Giza pyramid complex Map of the Giza pyramid complex Aerial view of the Giza pyramid complex Lex had taken to calling Greensill a fintech too. In reality, it was nothing like that, culturally or in a business sense. In contrast to the uber-casual tech scene, Greensill’s senior executives were buttoned-up and formally dressed. And while the company shared much of the ‘move fast and break things’ ethos of big tech companies, it had little in the way of actual new or proprietary technology. But that didn’t really matter. If Lex said the business was a fintech enough times, others would repeat it, and the money flowed in. And it's a question I took to Credit Suisse, and I took to SoftBank as a journalist many times. It was so startlingly problematic. In the end, The Bond & Credit Co. was taken over by a company -- Japanese insurer, Tokio Marine. And when Tokio Marine got involved, they looked at The Bond & Credit Co's exposure to Greensill and the Green -- the funds that were investing in Greensill assets. And they said, hey, this is too much. We don't want to do this anymore. And that really spelled the end, right, because without that insurance, the funds that have invested in Greensill's assets, they're no longer able to go out to the same pool of investors. a b "Egypt says has found pyramid built for ancient queen". Reuters. 11 November 2008. Archived from the original on 2 November 2017 . Retrieved 2 November 2017. Old Kingdom of Egypt". World History Encyclopedia. Archived from the original on 23 April 2021 . Retrieved 27 May 2020.

Lex Greensill: the truth about the billion-dollar scandal

There was another term frequently applied to Greensill: ‘shadow bank’. In the aftermath of the financial crisis, tougher regulations had forced traditional banks to set aside large amounts of capital to cover for another calamity. That had driven the banks from newly burdensome businesses, and money that previously ran through big global finance houses instead washed up in companies that were much less tightly regulated, and which thrived by skirting rules designed to prevent a financial scandal. Greensill was one of them.Mr Johnson’s early dismissal from The Times and his scandal while at The Telegraph did little to thwart his steady rise in journalism, with the writer becoming editor of The Spectator in 1999. Mr Johnson last week issued a “humble and sincere” apology to Lord Geidt, his ethics adviser, for withholding the messages from an inquiry. Tory sleaze As the Conservative Party self-immolates in the wake of the public’s final loss of patience with the Prime Minister, Duncan Mavin’s new book, The Pyramid of Lies: Lex Greensill and the Billion-Dollar Scandal, is a useful reminder that the creeping (now overwhelming) impression of tawdriness in public life did not begin with Boris.

Asda Great Deal

Free UK shipping. 15 day free returns.
Community Updates
*So you can easily identify outgoing links on our site, we've marked them with an "*" symbol. Links on our site are monetised, but this never affects which deals get posted. Find more info in our FAQs and About Us page.
New Comment