john in cheshire wrote:
The amounts of money involved are just breathtaking. How is this money spent? I mean, a website, an advertising campaign, and such wouldn't cost a fraction of this sum. So, who is getting the bulk of funding and for what? I know you say, Richard, that there are no accounts published, but surely that amount of money doesn't just disappear? But then JPMorgan (was it) managed to lose a billion dollars, when MF Global (I think) collapsed, so maybe it can go walkabouts.
The money re-appears in hundreds of penny packages, as it gets disbursed to groups like this ...http://www.ieep.eu/
Here is its financial statement for 2009.http://www.ieep.eu/assets/678/Trustees_Report_2009.pdf
Richard, thanks for the reply.
From the financial statement, my first impressions are that there's not much information on who they are giving how much money to, but they certainly make sure they are well remunerated. If I am reading them correctly, then, this bunch of people are receiving about £2.5million in our money and are paying themselves (all 33 of them) on average more than £43thousand (approximately £1.5million of the total income). Not bad is it. Particularly when they are contributing in total absolutely nothing to the wealth of our nation?
Am I correct in calling them rent-seekers?
Slightly off topic, but while I think of it :
Is Michael Mann (and for that matter, Phil Jones) a communist, or is he just a rent-seeker? Do you happen to know?