Credit Crisis Diary: 06/06/2009


Charity begins at a hedgie's home


To the ARK annual charity dinner, where City financiers are keen to prove that while they may be down, they're very much not out. The bash for children's charities was organised by Arpad Busson, the hedge fund manager, with the help of partner Uma Thurman, the actress.

The evening, famed for its excess, had a fund-raising target of £10m this year, well down on the £25m raised in 2008. After a tough year, expectations were modest, but the final total came in at a pretty impressive £15.6m.

Exit Stevie Wonder, stage left

The organisers were also keen to point out that the event was not as lavish as in times gone by, and cost a third less than last year's dinner to stage. While the champagne was still flowing, the evening was headlined by a performance from the Swann Band, covering rock'n'roll tracks. Last year they had Stevie Wonder.

Boris backs his banker friends again

Boris Johnson, the London mayor, who has been resolute in his defence of City bankers, naturally felt obliged to make an appearance at the bash, which is in keeping with his view of financiers as wealth creators and philanthropists. "Give, and give a withering retort to all the people who line up to criticise the financial sector," Boris urged the crowds.

Clarkson's cars selling like hot cakes

In the end, the guests were only too pleased to oblige. In the charity auction, a shooting party at Mulgrave Castle in Yorkshire – which went for £280,000, down from £350,000 last year – was one of the few disappointments. A Jeremy Clarkson-hosted test driving event, on the other hand, raised £150,000, while a pass for the Ferrari team's paddock at the Monaco Grand Prix sold for £120,000.

Protesters seek to spoil the big night

Sometimes, however, even the most charitable actions do not please everyone. Arriving at the bash, held on the old Eurostar platforms at Waterloo Station in London, the well-heeled guests had to run the gauntlet of public opprobrium. A small group of protesters – well, three if we're honest – chanted "shame on hedge-fund speculators" as people queued to get in.

Independent Comment
blog comments powered by Disqus
News in pictures
World news in pictures
       

Day In a Page

Johnny Marr talks relationships and reunions

He's worked with Modest Mouse, the Pet Shop Boys and Beck, to name a few, and recently released his first solo album. So why, wonders Johnny Marr, do people still hark on about The Smiths?
After the flood: From Haiti to Britain, one man has captured the devastation of our increasingly deluged lands

In pictures: After the flood

From Haiti to Britain, one man has captured the devastation of our increasingly deluged lands
Death becomes her: Meet the very modern mortician who champions 'cool' funerals

Death becomes her: A very modern mortician

Ever considered baking a loved one's remains into a cake or putting their ashes in fireworks? If so, talk to Caitlin Doughty, champion of the alternative death industry.
How long can the 'Keep Calm' trend carry on?

How long can the 'Keep Calm' trend carry on?

At first it seemed clever and cute. Then the 'Keep Calm' motif went mad, spawning endless offshoots.
The man who built Brum: A lament for the demise of John Madin's Brutalist Birmingham

John Madin: The man who built Brum

The architect's buildings were supposed to leave an indelible, futuristic mark on his beloved hometown but they are now being inexorably torn down.
School of chop: Learning the art of butchery at the Ginger Pig

School of chop: Learning the art of butchery

How do you butcher a lamb? Or make Mexican street food in a British kitchen? Christopher Hirst finds out.
James Pembroke: The man who's eaten everywhere

The man who's eaten everywhere

Few people know more about restaurants than James Pembroke, who only spent five mealtimes at home during his entire childhood.
A Berliner in 1963 – but did John F Kennedy once admire Adolf Hitler?

A Berliner in 1963 – but did John F Kennedy once admire Adolf Hitler?

The young JFK praised 'superior' Nordic races during visits to Germany
Banned Iranian director Mohammad Rasoulof to attend Cannes Film Festival 2013, his first public appearance since prison

Banned Iranian director to attend Cannes Film Festival

Mohammad Rasoulof to make his first public appearance since being imprisoned three years ago
Seeing the larger picture: Inspiring images of space

Seeing the larger picture: Inspiring images of space

An exhibition explores images how photography has shaped astronomy
Eat Spam and carry on: Wartime pamphlets could teach us a thing or two about healthy, thrifty eating

Eat Spam and carry on

Wartime pamphlets could teach us a thing or two about healthy, thrifty eating
Facial hair: Cat beards and the purrrsuit of excellence

Facial hair

Cat beards and the purrrsuit of excellence
The 10 Best salt and pepper sets

The 10 Best salt and pepper sets

Whether they're for everyday use or to make your dining table look just right, it's worth getting a stylish shaker...
Ferran Soriano: Predicting success if Manchester City 'vision' is followed

Ferran Soriano: Predicting success if Manchester City 'vision' is followed

Chief executive says trophies will come if a 'core' of suitable players is in place
Thomas Müller: We couldn't handle losing a Champions League Final again

Thomas Müller: We couldn't handle losing a Champions League Final again

The Bayern Munich forward tells Tim Rich his side have to shed chokers' tag after two recent final defeats