Rumours abound about Mandelson tipping off Epstein – who in turn tipped off JPMorgan about UK government and ECB bail-outs of UK banks and European sovereign debt during the GFC?

fact is stranger than fiction?

A criminal investigation has been launched about the huge sums of money spent by the UK government to bail-out and completely restructure the UK banking sector BEFORE they were announced by then (Labour) Prime Minister, Gordon Brown.

To add a little grist to the mill, Mandelson accused Brown of being ‘smelly’ – revealing the deep, current and historic, rifts in the Labour party that go a long way to explain the recent ‘revenge’ tactics of Brown against Mandelson.

AS a reminder, from Brave AI:

“ Gordon Brown was the Prime Minister of the United Kingdom during the 2008 bank bail-out.

He served as Prime Minister from June 2007 to June 2010, and the major bank rescue measures were implemented in October 2008, during his tenure. The UK government, under Brown and Chancellor Alistair Darling, launched a multi-billion-pound bailout package to stabilize the financial system following the global financial crisis, which peaked after the collapse of Lehman Brothers.

Key actions included:

• Royal Bank of Scotland (RBS): The government acquired an 84% stake (later reduced to around 60%).

• Lloyds Banking Group: The government took a 43% stake (all shares later sold).

• Northern Rock: Fully nationalized and sold to Virgin Money in 2012.

• Bradford & Bingley: Nationalized in 2010 and renamed Santander UK.

Brown has since stated he was prepared to resign if the bailout plan failed, and he has defended the decision as necessary to prevent a total collapse of the financial system.

“The UK bank bailout during the 2007–2010 financial crisis involved a total commitment of £1.162 trillion at its peak in 2009, according to the National Audit Office. This figure includes a mix of direct cash injections, loan guarantees, and liquidity support.

• Direct cash and equity investments: The government provided £45 billion in shares to Royal Bank of Scotland (RBS) and £20 billion to Lloyds Banking Group.

• Guarantees and liquidity support: Additional support included £332.4 billion in guarantees and £200 billion in liquidity provided through the Bank of England’s emergency schemes.

• Total outstanding support: By March 2011, the total outstanding support had fallen to £456.33 billion, equivalent to 31% of UK GDP.

The government began selling its stakes in 2013, with the final sale of its remaining RBS shares completed in May 2025. The overall taxpayer loss was confirmed as £10.5 billion after the full divestment.

As for the financial measures taken by the ECB President Mario Draghi – from Brave AI:

“ECB’s key measures included:

• Long-Term Refinancing Operations (LTROs): In December 2011 and February 2012, the ECB provided €1 trillion in low-interest loans to Eurozone banks through two major LTROs (€489 billion and €529.5 billion, respectively), aimed at ensuring liquidity and preventing a credit crunch.

• Asset Purchases: The ECB launched the Securities Markets Programme (SMP) and later the Outright Monetary Transactions (OMT) program, purchasing government bonds from stressed countries like Greece, Ireland, Portugal, Spain, and Italy. While exact figures are not fully disclosed, the SMP alone involved purchases of over €200 billion in sovereign debt.

• Target System: The ECB’s Target2 system indirectly facilitated a de facto bailout by allowing countries like Germany and the Netherlands to lend funds to countries like Greece and Spain through central bank balance sheets, effectively transferring capital without formal loans.

These actions, though not direct sovereign bailouts, amounted to over €1 trillion in financial support to stabilize the eurozone’s financial system during the sovereign debt crisis.

There are no details of whether these interventions were openly discussed in UK cabinet meetings at the time, with Mandelson present – though their substance would have enabled massive opportunities for making vast amounts of money if known In advance.

Peter Mandelson served as Business Secretary in Gordon Brown’s cabinet from October 2008 to May 2010. He also held the role of First Secretary of State and Lord President of the Council from June 2009 to May 2010, making him the de facto deputy prime minister during that period.

The 2010 UK general election was announced on 6 April 2010 by Prime Minister Gordon Brown, who requested the dissolution of Parliament from Queen Elizabeth II. This followed the standard five-year electoral cycle, with the previous general election having been held on 5 May 2005.

The election was driven by several key factors:

• Economic crisis: The UK faced a severe financial downturn, including the collapse of Northern Rock in 2007 and the need for Labour to recapitalise major banks using public funds, which led to a sharp rise in national debt and public scrutiny.

• MPs’ expenses scandal: A major controversy erupted in 2009 when the Daily Telegraph revealed widespread abuse of parliamentary expenses, damaging public trust in politicians and fueling demands for reform.

• Political fatigue: After 13 years of Labour government under Tony Blair and Gordon Brown, there was a strong desire for change, with the Conservative Party positioning itself as the alternative.

Brown announced the election in a live press conference from Downing Street, citing the need to secure a clear mandate for economic recovery and to restore public confidence.

A rumour can travel the world before the truth has go its pants on! We will see where this leads!

Onwards!

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