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

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Solved! How Ancient Egyptians Moved Massive Pyramid Stones". Live Science. Archived from the original on 1 January 2022 . Retrieved 26 February 2018. NATHAN HUNT: One of the things that Greensill focused on, very early on in his career was the idea of supply chain finance, the possibilities of supply chain finance. Certainly, Greensill didn't invent this. It's been around for a long time. I'm wondering if you can tell me a bit about what is supply chain finance?

Pyramid of Lies The Essential Podcast, Episode 67: Pyramid of Lies

BY 1999, LEX had completed his legal studies and articles at Payne Butler Lang, a prominent Bundaberg law firm. He briefly spent some time at Deacons Graham & James, another law firm, with connections across Asia and a focus on intellectual property and new technologies. 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 Quirke, Stephen (2001). The Cult of Ra: Sun Worship in Ancient Egypt. Thames & Hudson, pp. 118–120. It's OK as far as it goes but the author doesn't come across anywhere near the skill of for example, Ian Fraser in his book Shredded which is about RBS. I can't think why there wasn't more in here about Gupta and why Greensill was so chained to what was going on with that company. In the end it was obvious why but nowhere near enough work done to explain that.Greensill achieved its rapid growth by becoming, in effect, a lender of last resort. A handful of risky borrowers came to dominate its business, the largest of which was Sanjeev Gupta’s steel group, to which Greensill kept lending long past the point where it was obvious there was no ability to repay. As time went on, more and more loans started to go sour, and the insurers started to pull out. The business finally collapsed when the new Japanese owners of its last insurer (a small, bamboozled Australian outfit) called time. In 2013, papyri, named Diary of Merer, were discovered at an ancient Egyptian harbor at the Red Sea coast. They are logbooks written over 4,500 years ago by an official with the title inspector, who documented the transport of white limestone from the Tura quarries, along the Nile River, to the Great Pyramid of Giza, the tomb of the Pharaoh Khufu. [30] Long after the end of Egypt's own pyramid-building period, a burst of pyramid-building occurred in what is present-day Sudan, after much of Egypt came under the rule of the Kingdom of Kush, which was then based at Napata. Napatan rule, known as the 25th Dynasty, lasted from 750 BCE to 664 BCE. The Meroitic period of Kushite history, when the kingdom was centered on Meroë, (approximately in the period between 300 BCE and 300 CE), experienced a full-blown pyramid-building revival, which saw about 180 Egyptian-inspired indigenous royal pyramid-tombs constructed in the vicinity of the kingdom's capital cities. [19]

Pyramid of Lies by Duncan Mavin - Pan Macmillan

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 NATHAN HUNT: One of the strangest parts of the book for me was the -- and it's a minor point, but it was the fact that when Lex Greensill had attained his position in Downing Street, he nonetheless, also chose to misrepresent his relationship with the Obama administration in the United States. He apparently had been in a meeting in the White House on an occasion, but he turned that into sort of a formal advisory relationship. Why on earth would he lie about something that doesn't give him any additional benefit beyond the Downing Street relationship he already has?I was left, yet again, shaking my head about how greed makes fools of many and millionaires (if only for a while) out of some. 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.

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DUNCAN MAVIN: That is also a very, very good question. So Lex comes across the government. He makes his government connections from around about 2011. He had met a very senior former Civil Servant named Jeremy Heywood, when he was at Morgan Stanley. They both worked together there. At that point, Lex was a pretty junior guy and Jeremy Heywood was a very senior guy, very high-level Civil Servant who'd moved into the bank temporarily. 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.While Mr Johnson has never publicly admitted to the affair, his spokesperson claimed he “acted with honesty and integrity” in his dealings with Ms Arcuri. Vote Leave bus So the biggest trade credit insurers said, no, we're not going to work with you. That left him with a bit of a problem, which he solves by going to a very small Australian insurer called The Bond & Credit Co. And The Bond & Credit Co. ended up providing billions and billions of dollars of insurance to the Greensill business. And it was startling to me, looking at it as a journalist to say, this can't be right, how can this tiny company be so critical in these billions of dollars worth of funds.

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

DUNCAN MAVIN: That's a great question. So I -- yes, you're right, I've been following this for probably about 4 years now, maybe a little longer than that. And at the time -- I've been a financial journalist for a long time. I was a chartered accountant before that. So just so you know where I'm coming from. But at the time, I wasn't writing an awful lot. I was doing a bit more editing and managing people. And a source -- a longtime source of mine came to me and said, hey, are you paying attention to this company called Greensill Capital? And I said, no, never heard of them.

The Pyramids of Egypt – The meaning and construction of the Egyptian pyramids by Egyptologist Professor Nabil Swelim. A previously unknown pyramid was discovered in north Saqqara in late 2008. Believed to be the tomb of Teti's mother, it currently stands approximately 5m (16ft) high, although the original height was closer to 14m (46ft). Lex Greensill, the son of small-scale Australian farmers who became a billionaire with several private jets, in Saudi Arabia with former British Prime Minister David Cameron (left) in early 2020 a b c Hassan, Fekri (2002). "Palaeoclimate, Food And Culture Change In Africa: An Overview". Droughts, Food and Culture. Springer. p.17. doi: 10.1007/0-306-47547-2_2. ISBN 0-306-46755-0. Archived from the original on 12 May 2021 . Retrieved 25 May 2021. When Cameron stood up to make the after-dinner speech at the Savoy, he heaped praise on Lex – as he did frequently at events inside and outside Greensill, and in texts and meetings with his former government colleagues. Greensill, according to the former PM, was a saviour of small business, democratizing access to sophisticated forms of finance that had hitherto been the reserve of only the world’s most powerful corporations.