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Tuesday, 8 October 2013

Hedge funds and institutional investors will make a killing from the latest privatisation rip off.

Last minute rush to buy 'undervalued' Royal Mail shares as investors sense instant profit


The latest "rip off" privatisation sale for the benefit of Hedge funds, institutional investors and big business asset strippers. The privatisation of any industry is not for the taxpayers benefit or for the small scale investor, no matter what the Tory spin doctors and their propaganda machine may tell you.
In an interview on BBC News 24, Chuka Umunna, the shadow Business Secretary was less than enthusiastic in his support for the possibility of industrial action by the communication workers union in protest at the privatisation plans and the threats to their jobs in the industry. There was a time when Labour party MP's as well as party activists, were at the forefront in the defence of workers jobs and conditions.

Chuka Umunna

Chuka Umunna survived yesterdays shadow cabinet reshuffle. Notwithstanding the fact that Umunna was one of 73 Labour MP's who nominated Ed Miliband for the leadership of the Labour party, he has recently revealed that he has started meeting regularly with Tony Blair.Consequently it seems that
Blairites have put their faith in Chuka Umunna as a future party leader.
Clearly, his name should be on the list of Blairites to be purged at the next reshuffle.