Newspaper article The Evening Standard (London, England)

The Duty of the Odeys

Newspaper article The Evening Standard (London, England)

The Duty of the Odeys

Article excerpt

Byline: Anthony Hilton

IT'S a bit rich that Crispin Odey, the hedge fund manager, should tell the Sunday Times that he is "seriously considering" moving his business abroad because "the Government is not interested in keeping London alive as a financial centre." It is worth remembering that Mrs Odey, better known as Nichola Pease, was a nonexecutive director of Northern Rock, and therefore one who failed to see the dangers of the policies it pursued.

One might argue that banking's collapse in the hands of Mrs Odey and others has done at least as much damage to the City's reputation as the Labour Government, particularly when these events are viewed from overseas. One might also argue that the reason all high-earners -- whether or not they have any link to finance --will henceforth have to pay a higher-rate income tax band of 50p in the pound is at least partly because of the devastation wrought on public finances by the cost of bailing out banks. …

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