0:00
Once he was the prince of darkness, the
0:02
architect of new labor, Tony Blair's
0:04
election winning com supreo and
0:07
genuinely feared around Westminster. But
0:10
now it looks increasingly unlikely that
0:13
Peter Mandolson will be able to mount
0:14
another comeback. The Cabinet Office has
0:16
referred fresh material from the Epstein
0:18
files to the police amid serious
0:20
questions as to possible market
0:22
manipulation. Following widespread
0:24
condemnation from Kier Stalmer and his
0:27
government, the Lord speaker has now
0:28
announced that Mandolson is set to step
0:31
down from the House of Lords. Karma has
0:33
told his cabinet that the former US
0:35
ambassador has let his country down and
0:38
the government needs to move at pace to
0:40
establish the facts. A spokesperson for
0:42
the PM said he is appalled by the latest
0:45
revelations from the Department of
0:46
Justice in the US. The scandal around
0:48
the labor peers links to the late
0:51
pedophile financeier has deepened this
0:54
week with a massive new tranch of emails
0:57
released by the US Department of
0:58
Justice. From the emails, Mandlesson
1:00
appears to give Epstein advance warning
1:02
of a 500 billion euro bailout during the
1:06
Eurozone crisis and he appears to
1:08
forward Epstein sensitive information in
1:11
an email about the liquidity of the UK
1:14
financial system and the stability of
1:16
the euro. It was meant for Gordon Brown
1:18
and originally sent to him. I spoke to
1:20
Chris Roberts. He's a partner at
1:22
Grovener Law specializing in white
1:24
collar crime about the potential legal
1:28
>> It does seem that you would expect the
1:30
information that was disclosed to
1:31
Epstein to be market sensitive. It would
1:34
seem unusual uh to to think that in 2008
1:39
2009 information about what the UK
1:41
governments and what the US government's
1:43
views on bank regulation. I would uh say
1:47
would clearly be sensitive and um
1:50
potentially market moving.
1:51
>> Mandlesson said in an email to Epstein
1:53
finally got him to go today. That was
1:55
just hours before Gordon Brown stepped
1:57
down as PM following the general
1:59
election. Elsewhere in the files,
2:01
Mandlesson appears to seek advice from
2:03
Epstein on a potential job at Deutsche
2:06
Bank following his exit from government
2:08
in 2010 when the Tories and Lib Dems
2:10
came into power that could have been
2:12
worth as much as $6 million. He ended up
2:15
taking another corporate gig at Lazard,
2:18
the financial advisory firm, not long
2:20
after. Another email forwarded from an
2:22
adviser to Gordon Brown appears to have
2:25
the details, at least some of the
2:27
details of an asset sales plan meant to
2:30
support public finances back in 2009.
2:33
All in all, it's a really difficult comm
2:35
situation for the government, and it's
2:37
disastrous for Peter Mandolen. He has
2:39
had many comebacks before over the past
2:42
few decades. basically ever since he
2:44
first entered the cabinet back in the
2:46
late '9s. But this time it simply seems
2:49
like this is going to be too big a
2:51
comeback to mount for the man once known
2:54
in Westminster as the comeback
