Thursday, February 16, 2012

Rothschild loses libel case, and reveals secret world of money and politics

Thanks to billionaire's legal battle, we now know a lot more about how the super-rich work.

With his long limbs and delicate gait, Lord Mandelson could no doubt manage a quite convincing turn in Thunderbirds.

He'd find Jeff Tracy most convivial: a billionaire astronaut with his own Pacific island, and now, it seems, he even has his own camera-shy friend to pull the strings.

According to the High Court, Nathaniel Rothschild, scion of the banking dynasty and friend of seemingly everyone in the spheres of finance, business and politics, is indeed "puppet master" to the Baron of Hartlepool and Foy.

The banker and Bullingdon boy has lost his libel case against the Daily Mail, which he sued for "substantial damages" over its account of his and Mr Mandelson's extraordinary trip to Russia in January 2005.

Mr Rothschild claimed he was subjected to "sustained and unjustified" attacks in the May 2010 article, which portrayed him as a "puppet master", dangling his friend Lord Mandelson in front of the Russian oligarch Oleg Deripaska to ease the passage of colossal business deals. Read More