Corfued

Ken

re Pestilence ... But as unctuous al Beebo is in abrogation of its charter commitment to balance and rejoices as Labour’s parlaphone, don't hold your breath.

George Butterworth

I wouldn't consider Mandy's friend Nat Rothschild to be a credible witness to anything. I can think of numerous reasons not to believe a word he says.

Jonesy

They don't like it up 'em. They do not like it up 'em.

Good for you, Mr Osborne, sir.

Silverblue

When will these people learn? Don't mess with Mandy

Simon

Mandy is playing games again, I see.

He didn't like what was being said about him - so starts smearing others.

Nice

bill

What a bunch!

Gideon, Mandy, Rothschild, Murdoch, Feldman, Deripaska and now Peston.

Sounds like a cast list from a Forsyth thriller; can't wait for the next instalment!

Rachel

Why is the SFO involved in investigating Peston? It should be the FSA, which has the obligation to investigate breaches of the relevant legislation. Anyone even remotely experienced in this area should know that the FSA has made a big issue this year of investigating "leaks" and the manipulation of markets. Michael Howard knows this hence his letter to the FSA. Why are the Tories now confusing the issue by involving the SFO?

The issue is quite simple: was confidential price-sensitive information released into the market other than via the proper channels and did this result in certain people/entities carrying out advantageous (to them) trading? The political issues are whether governmental authorities or others were careless of the obligations imposed on them as on all market participants for their own purposes and, second, whether the FSA is up to the job of investigating market abuse. It is no good Turner demanding extra money for his staff without some clear idea of what has gone wrong with his organisation and what needs to be done to put it right.

As for Mandelson, the more focus there is on his relationships with the rich and famous (and infamous) the more it will remind people of what they dislike so much about New Labour. But the Tories should certainly not underestimate his capacity for mischief.

mac

To underestimate the unprincipled nastiness of Mandelson is a serious error of judgment. Wasn't Osborne paying attention when Mandelson and the equally unscrupulous and poisonous Campbell conducted the dirty tricks orchestra in support of T Blair?

Playing the longer game and projecting a calm air of statesmanship may turn out to be the right approach to counter Brown's current nauseating cat-with-cream posturing, but mixing it with Mandelson requires something very different. It's increasingly evident that Osborne hasn't got what it takes.

Chuck Unsworth

Who trusts a Rothschild?

Wealth is not integrity.

Adam

Osborne has been done over by Mandelson, the master of the dark arts. Osborne should have kept his mouth firmly shut about discussions he had in a private meeting. He has shown himself to be unfit for high office with his childish behaviour. He should concentrate on the situation at hand where he isn't doing a great job instead of playing silly games which he is incapable of winning. His behaviour has no doubt alienated N Rotschild who would have been a useful supporter of the party.

Tavy

As soon as Mandelson returns to British politics the sewerage starts to flow.This is going to be a dirty fight.

John Page

Special pleading. A journalist shouldn't lay off a politician just because that politician's putting him under pressure. Perhaps quite the opposite.

TrevorsDen

Charming host. Never trust a Rothschild.

Not that I will ever have to.

this little saga shows a how much Labour fear Osborne (no matter what the witterings of the numpty right.

Also it shows how wounded labour already feel by Osborne's pointed attacks on Browns incompetence.

luke

Classic Mandy. Is there a front on which osborne does not look out of his depth?

Those that think the times runs a splash purely on the basis of a "mandy smear" are naieve in the extreme!

lippi

Only Osborne could be so arrogant as to think he could take on both Mandelson and Peston without any consequences.

Drew

Am I alone in wondering why anyone should invest a great deal of confidence in the word of a hedge fund manager?

joedc

our times - a tale of how a hugely rich financier Nat Rothschild, the son of the fourth Baron Rothschild, brought together the Tory shadow chancellor, the man who would return to British politics as Gordon Brown's new business secretary and a Russian billionaire at his holiday retreat on the Greek island of Corfu. Oh, yes, and lest I forget, the media magnate Rupert Murdoch joined them as he was staying near by.

Our story begins and ends with George Osborne. On returning from his hols he couldn't quite resist telling friends of the "poison" about Gordon Brown which, he alleged, Peter Mandelson had "dripped into the ear" of anyone listening. A story which moved from amusing gossip to the front pages after Mandelson's shock return to the cabinet.

Next came questions fuelled by the Tories about Peter Mandelson's relationship with Oleg Deripaska, the Russian whose billions come from controlling the world's largest aluminium producer. Hadn't he stayed on his boat? Osborne knew he had. Weren't they friends? Osborne knew that too. Wasn't this a conflict of interest given that, as EU Trade Commissioner, Mandelson had a role in setting tariffs for the aluminium which made Derpaska so rich?

Mandelson's first instinct was to refuse to answer questions about what he said was his private life. He knew all too well that the way the media can keep a story running is to publish a list of "unanswered questions". This approach did not, however, kill the story. Nor did the backing of the EU Commission which declared him not guilty of a breach of the rules. So far, no evidence has been produced that he broke any rules but there's little doubt that had he behaved this way as a cabinet minister he would have been in breach of the ministerial code which advises against perceived conflicts of interest.

When the questions continued, it's clear that Mr Mandelson's friend, Nat Rothschild, became angry with his old Oxford chum George Osborne for breaching the privacy of his summer party. It is this that has led to this morning's allegations, printed in the Times, that Osborne had visited the boat of the Russian billionaire with the Tory fundraiser, Andrew Feldman in order to "solicit a donation". What's more, Mr Rothschild alleges, Feldman later proposed that the donation be "channelled" through one of Mr Deripaska's British companies. Donations from overseas are, of course, illegal.

Both George Osborne and Andrew Feldman vehemently deny these allegations. The Tory party issued legal warnings to the Times last night which led to Nat Rothschild re-writing the letter in which he made his allegations. The Tories claim that this shows his version of events is unreliable. The Times insist that he was merely "clarifying" his allegations. My colleague Robert Peston revealed this morning that there are witnesses to Rothschild's story who are willing to appear in court if necessary.

Only three facts are undisputed here - the Tories did visit the boat, at a later stage a donation to the Tory party was discussed but no donation was, in fact, ultimately made. The rest, for now, is murky.

What can't be disputed is that this raises real questions about the judgement of the Conservative Party in pursuing allegations about Peter Mandelson's dealing with a man who they themselves had discussed money with.

There's an old saying in politics - if you get into the gutter you have to be prepared to get dirty.

All those criticising Rothschild need to keep in mind that he is a friend of Osborne as well, who is clearly deeply annoyed that the confidentiality of his party has been destroyed.

glenn

Nathan Rothschild is a major tory donor. A TORY donor.

Talk about biting the hand that feeds you. Is there no limit to Osborne's incompetence?

bbc watch

Oh come in - the BBC are playing up this story in order to deflect attention from the real news - the public debt, which, like their mentor Gordon, they are trying to bury and obfuscate.

oldtimer

I see that Guido now says that Blair persuaded Rothschild to write the letter. He has an update: CCHQ is saying that the allegations are "completely untrue".

It will, for sure, provide much distraction from other weightier issues. That, it seems, is what the letter was intended to do for all the parties who have apparently initiated this story. The BBC role in this bears examination. If libel actions ensue, does the BBC (ie licence payer) fund the defence if actions are taken against named BBC staff?against named BBC staff?

Jacob

If the Tory Party has succeeded in alienating N. Rothschild then they can only be applauded for doing so. I hope they won't waste any time or energy trying to repair the breach.

David C

Adam:
Do you mean Osborne should LIE?

TGF UKIP

And some Coffee Housers remonstrate with me when I call him Boy George.

Alex R

Read the letter and you realise that it is Rothschild putting Osborne in his place for breaching the privacy of a private party. Rothschild clearly (and rightly) sees Osborne's lack of discretion as a slight ask him, as much as it was against Peter Mandelson, because he was the host. I am sure that "Dear Mary" would have something to say Osborne's behaviour.

TGF UKIP

Recommend Coffee Housers hasten on over to have fun with Guido on this at order-order.com

Sir Buffy de Vere Spoofington, Bt

I can't see why there's any fuss about Young Osborne. The law only applies to little people.

Peter Wilson

Robert Peston is getting quite a kicking via his comments section on his blog about this story.

Mandy may be back but the internet hampers his dark arts somewhat it appears.

Tiberius

So the game has changed from Brown Unathletic (with a kick-and-rush style) vs Cameron United (playing easy-on-the -eye stuff), to one where forwards poke goalkeepers in the eye and players feign injury.

I think Mandy should consider that the electorate has finally moved on from watching Blairite games, and will revile at the return of such infantilism while the economy is in crisis.

Nicholas

Expect more of this slime from Labour. Unfortunately the media ensure that any shit thrown at the conservative wall sticks while Labour seem Teflon-coated when it comes to sleaze.

Tories very naive in the face of pure evil. The future of this country at stake.

jon dee

Nat and Peter get George, with a little bit of help from........

Ivy Eileen

We've all suffered from some snark like this at school.

First, equate your behaviour with his ... and then get you to turn in on yourself and tear strips off each other, so ignoring him.

David Vinter,

If a Russian multi millionaire asked me to dine on his yacht, I would run a mile! But clearly as a grammar school boy, with a Nottingham degree , I have not the educational background to accept a way into the 'political jaws of death' dangled before me!

alastair harris

so who is pulling the strings? Is it Brown, Mandelson, or Peston? Or perhaps it is a Russian conspiracy to further destabilse the West. Where is LeCarre when you need him?

Steve Mink

Please could the numerous commentators who have posted "Never trust a Rothschild" or similar explain precisely what they mean by this?

Frank P

There will be a bit of a bust-up at the Bilderberg bash next time, won't there? Must get someone to infiltrate it again.