Abolish the City of London Corporation: the size and scale of the Financial lobby revealed

Thanks to this Early Day Motion (EDM), which asks for an inquiry into the abuse of power by the City of London, I learned about the Bureau of Investigative Journalism. It writes:

The size and scale of the Financial lobby revealed

Top Story: The £93m City lobby machine. Read more here.
Analysis: The finance lobby faces its biggest challenge.Read more here.
Bureau Recommends: Conviction ‘at all costs’: police cover-up sees verdicts overturned. Read more here.

The financial lobby exposed  
In the wake of the Barclays Libor scandal, the Bureau published a four-month investigation into the influence of the City on politicians and regulators.
We revealed, for the first time, the size and scale of the financial lobby in a project published in the Guardian newspaper.
Our work showed:

  • The British financial services sector spent nearly £93m lobbying politicians and regulators last year. Read more here.
  • 16% of members in the House of Lords are paid by City firms. Read more here.
  • A cosy relationship between the financial services industry and its regulator. Read more here.
  • How the Square Mile’s local authority, the City of London Corporation, works as a lobbyist. Read more here.
  • How the Big Four accountancy firms have given donations of ‘staff costs’ worth £1.36m since May 2009. Read more here.

Covert war on terror – Top Yemen reporter says al Qaeda ‘down but not out’.
In an exclusive interview with the Bureau, a leading Yemen journalist talks about the problems of reporting on the drone war and the US’s fight against al Qaeda in his country. Read more here. 

Bureau Recommends
This week the Bureau recommended a report by Transparency International that suggested banks and insurers were the least transparent organisations amongst large companies.

We liked an expose by the campaign group Reprieve which revealed that secret trials will be extended to detention cases.
And we reviewed a fascinating story in Wired which examined a police investigation into an outbreak of Anthrax amongst Glasgow’s heroine addicts.

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