Today’s revelations that senior MOD officers have taken up no less than 3,500 jobs in arms companies over the last 16 years go a long way to explaining why there is next to no regulation in the UK of the massive corruption involved in UK arms deals over the last 40 years.
The defence companies use their money to fund political parties and find lucrative jobs not only for the top MOD military brass but also for former and potential ministers, all with the object of stymying regulation.
For the banks and the corporate elites the ‘feather duster’ regulation of the neoliberal era paved the way for the ‘London loophole’. All this remained secret behind tightly closed doors till the financial crash of 2008-9, notably the al Yamamah mega-arms deal with Saudi in 1985 totaling over £40bn, the details of which still remain hidden after Blair’s intervention in 2005 to block a SFO inquiry. Even now nearly all the expose’s derive from the US, not the UK.