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Podcast Episode Notes: The Rest Is Politics - Episode 496: Mandelson’s Disgrace: How Epstein Poisoned Our Politics
Episode Overview In this episode of *The Rest Is Politics*, hosts Alastair Campbell and Rory Stewart delve into the implications of Peter Mandelson's ties to Jeffrey Epstein and the broader influence of wealth and power in British politics. They tackle critical themes surrounding the exploitation of political systems by elites and discuss potential structural reforms to safeguard democracies from corruption.
Key Themes and Discussions
- The Epstein Connection
- Jeffrey Epstein is characterized as a notorious sexual predator and human trafficker, whose wealth and connections have had significant ramifications for many individuals in power.
- The episode explores the timeline of Epstein's rise and fall, including his 2008 conviction for trafficking and the subsequent associations he maintained with influential figures, including Mandelson.
- Mandelson's Political Risk
- Peter Mandelson's interactions with Epstein are scrutinized:
- Mandelson received substantial financial contributions from Epstein.
- He engaged with Epstein on various government matters even after Epstein's conviction.
- The hosts reflect on the risks associated with Mandelson's close association with Epstein, particularly as a senior member of the UK government.
- The Broader Implications of Wealth in Politics
- The conversation expands to discuss how wealthy elites manipulate political systems worldwide:
- Campbell and Stewart identify how financial connections can lead to potential corruption.
- They highlight the need for reforms to reduce the influence of money in politics, including campaign finance reform and increased salaries for MPs to lessen their vulnerability to corrupt practices.
- The Role of Media and Public Perception
- The hosts discuss the media's role in shaping public perception of political scandals, noting how the sensationalism often leads to a loss of accountability.
- They reflect on how Epstein’s narrative has intertwined with those of powerful politicians, potentially damaging public trust in democratic institutions.
- Reforming Political Structures
- The episode advocates for specific reforms:
- Campaign Finance Reform: Limiting the influence of wealthy donors on political processes.
- Increased MP Salaries: Ensuring that politicians do not seek external financial incentives which may compromise their integrity.
- Stricter Regulations: Implementing rigorous rules on post-parliamentary employment to avoid conflicts of interest.
- Historical Context and Comparisons
- The hosts draw parallels between the current political landscape and past political scandals, emphasizing that similar patterns of corruption have existed historically.
- They argue that the American political system has influenced British politics, particularly regarding the normalization of corrupt practices.
- Cultural Attitudes Towards Governance
- Campbell and Stewart explore the cultural implications of political corruption, noting how widespread disillusionment with politics can lead to apathy among the electorate.
- They emphasize the importance of restoring faith in political systems by demonstrating that not all politicians are driven by greed and corruption.
Key Takeaways
- Impact of Wealth on Politics: The episode underscores the profound impact of monetary influence on political decisions and the integrity of democratic processes.
- Need for Reforms: Strong advocacy for reforming campaign finance and improving the remuneration and ethical standards for politicians is presented as essential to combating corruption.
- Public Awareness and Engagement: The dialogue encourages listeners to remain vigilant and engaged in political discourse, advocating for transparency and accountability in governance.
Conclusion The hosts conclude that addressing the intertwining issues of wealth, power, and political corruption is vital for the health of democracy. They express hope that through reforms and public engagement, it is possible to reclaim the integrity of political institutions.
Call to Action Listeners are encouraged to reflect on the discussions and consider the potential for reform in their political systems, advocating for transparency, accountability, and ethical governance.
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Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOIntroduction to Epstein and Mandelson
3:02 to 3:21
Hosts introduce the episode's main themes around Epstein and Mandelson.
“Welcome to The Restless Politics with me, Rory Stewart.”
Epstein's Background and Crimes
3:21 to 3:54
Discussion on Epstein's predatory crimes and rise to power.
“Let's start with the Epstein story and then bring Maddelson into that story.”
Mandelson's Connections to Epstein
3:54 to 4:49
Exploring Mandelson's interactions with Epstein post-conviction.
“Then fast forward 2008, Epstein is sent to prison for trafficking after a very, very complicated investigation that takes place with a lot of resistance.”
The Magnitude of Epstein's Influence
4:49 to 5:50
Discussion of the wider implications of Epstein's connections in politics.
“he flies out as the second most senior person in the British cabinet and stays in Epstein's flat.”
Mandelson's Controversial Actions
5:50 to 7:11
Exploring Mandelson's actions and decisions relating to Epstein.
“evil actions of this predator and the men who, with him, engaged in this extraordinary pattern of industrial abuse.”
Gordon Brown's Government and Epstein
7:11 to 8:16
Insights into the political atmosphere during Brown's government and Epstein's role.
“And I was in the room for most of that time, and as was Peter.”
The Risk of Insider Trading and Political Corruption
8:16 to 9:21
Discussion on the risks associated with insider trading and its implications.
“You know, we talked when the budget, the recent budget was published, we talked about just how incredible it was that so much stuff got leaked out.”
The Vetting Process and Political Appointments
9:21 to 11:13
Exploring the vetting process for political appointments and its failures.
“And everybody in the system is aware of it.”
Mandelson's Legacy and Political Risks
11:13 to 14:02
Analysis of Mandelson's legacy in light of his connections and political risks.
“And they will have been aware that this was probably the biggest story in the world.”
The Legacy of New Labour and Political Risks
14:02 to 14:40
Learn about the perceived risks and challenges facing New Labour and its leaders.
“as to why New Labour was a successful political project.”
Show all 22 chapters
Peter Mandelson: Talents and Controversies
14:40 to 16:07
Explore the complexities of Peter Mandelson's career and his controversial narrative.
“There's no doubt if you push to one side, the reasons for his resignations, he was an effective cabinet minister.”
Epstein's Influence on High Profile Figures
16:07 to 17:56
Investigate the implications of the Epstein allegations on various influential personalities.
“Or you develop an attitude that says, well, yeah, that brought me down, but I came back.”
Networking in the Shadow of Controversy
17:56 to 18:38
Understand the dynamics of networking among elites, especially in relation to Epstein.
“You've worked in the States and you've worked in the kind of charitable sector trying to get these very, very wealthy people to give you money.”
The Mechanics of Epstein's Parties
18:38 to 21:40
Discover how Epstein orchestrated connections and favors among powerful individuals.
“I was thinking about this, and I do know, partly because when I was fundraising initially at Harvard and charities and many other things, I saw a little bit of this world.”
Epstein's Role in Global Politics
21:40 to 22:54
Examine how Epstein positioned himself within global political networks.
“There's professional fundraising, there's personal fundraising, there's business connections, there's political introductions, right?”
Philanthropy and Rehabilitation Post-Conviction
22:54 to 26:00
Learn about the complex relationship between philanthropy and Epstein's post-conviction networking.
“Like JP Morgan, which actually instantly has settled separately with Epstein's victims for other stuff.”
Political Fallout from Epstein's Allegations
26:00 to 27:18
Discuss the potential political repercussions stemming from Epstein's connections and allegations.
“But what I really want to do is match fund with other philanthropists.”
The Political Landscape and Epstein's Influence
30:00 to 38:25
Explore how Epstein's connections shaped political dynamics and power.
“Plus, buy online and pick up at your favorite rack store for free.”
Democracy Under Threat: Protecting Integrity
38:25 to 42:00
Discuss the vulnerabilities in political systems regarding ethics and influence.
“And that's why I think that although Keir Starmer is a very honorable man, he should not actually even have been taking favors like glasses, clothes for his wife, etc.”
The Impact of Epstein on Political Corruption
42:00 to 45:42
Discuss how the Epstein case influences perceptions of political corruption and accountability.
“leadership, I'm talking about the base has made the Epstein files right at the heart of their whole ideas of conspiracy theories, politics, child sex rings, etc.”
Proposed Reforms for Political Integrity
45:42 to 47:10
Explore potential reforms to improve political integrity and reduce corruption.
“I mean, there are figures like Jeremy Corbyn, who I suspect is not on the make.”
Upcoming Political Topics and Sign-off
47:10 to 47:48
Briefly preview upcoming political discussions and topics for future episodes.
“And, you know, if you're Keir Starmer, there he goes off to China, has a pretty successful visit comes back, does a statement in the House of Commons and what was he had to talk about yesterday?”
Transcript
Automatic transcript. May contain errors.0:00Thanks for listening to The Rest is Politics. To support the podcast, listen without the adverts and get early access to episodes and live show tickets, go to therestispolitics.com. That's therestispolitics.com. There is so much in this latest batch that is bad for Trump, that is bad for Bill Gates, that is bad for Elon Musk.
0:20Rory Stewart:We've only seen this because Epstein happens to be the most famous sexual pedercial in the world. Otherwise, we'd never seen any of this. They've allowed something to be created where scandal is no longer scandal. It's just a story and it lasts half a news cycle. There's a very interesting question of intelligence connections. He's the perfect agent of influence from an intelligence agency because he can compromise people, he can blackmail people, he knows everybody. Peter was always going to be a risk as an appointment. What is the nature of the world in which Mandelson is operating that Epstein can walk in when he's in his underwear and take a photograph of him?
0:52That stuff I found really shocking.
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3:02Rory Stewart:Welcome to The Restless Politics with me, Rory Stewart. And me, Alistair Campbell. And Alistair, we're going to be focusing on this episode exclusively on the question of Jeffrey Epstein, Peter Mandelson and the bigger story, because I think it's time to really step back and see not just corruption in the British government, but the bigger story of what's happening in the world of democracies around the world, how very wealthy people are beginning to distort and influence politics in so many different ways with implications that go a long way beyond Epstein and Mandelson. Let's start with the Epstein story and then bring Maddelson into that story.
3:38Rory Stewart:So as almost everybody in the world now is aware, this is a man who was a sexual predator, a human trafficker of underage girls, abused and violated and destroyed them, some of whom have subsequently taken their own lives. he rose in a slightly mysterious way to extraordinary wealth and social connections and the story as it relates to britain really gets going about 25 years ago when he becomes close to andrew mount baton windsor former prince andrew and and it's in 2001 uh before 9 11 that we have these stories around virginia jeffrey and prince andrew virginia jeffrey of course having take her own life.
4:24Rory Stewart:Then fast forward 2008, Epstein is sent to prison for trafficking after a very, very complicated investigation that takes place with a lot of resistance. And the next part of the story is about people who continue to see him and associate with him even after his 2008 prosecution, one of whom, of course, is Peter Maddelson, who stayed in his apartment as the first secretary of state, effectively the deputy prime minister, after Epstein had been convicted, he flies out as the second most senior person in the British cabinet and stays in Epstein's flat. And then many, many other people are brought into this.
5:02Rory Stewart:And then in 2019, Epstein, of course, killed himself. His partner, Ghislaine Maxwell, his father, Robert Maxwell, you knew very well, is currently in jail appealing. This has become absolutely the heart of MAGA and Trump and the release of the Epstein files. First thing to say, the real core of this story, of course, are the victims who are underage girls, many of whom have found their names dragged into the press in ways that they never consented to, some of whom have taken their own life. And we're about to go on to a story which is also about insider trading, political corruption, networking.
5:43Rory Stewart:But nobody should forget that at the core of this story is the extremely horrifying evil actions of this predator and the men who, with him, engaged in this extraordinary pattern of industrial abuse. There's so many names in here, and we shouldn't assume or allege that just because your name is in these files that somehow you're guilty of crime. Very quickly, before we get to Mandelson, here's some figures. So between 2003-2004, Epstein sent$75 ,000 to accounts linked to Mandelson. In June 2009, Mandelson, now the first secretary of state, effectively deputy prime minister in Gordon Brown's government, so he's right there at the core of the government, forwards an internal government memo to Epstein on the government's plans to sell$20 billion of assets.
6:33Rory Stewart:and Epstein asks us some questions, which Mandelson replies to. December 2009, Mandelson tries to amend government policies on banker bonuses at Epstein's request. Also in December 2009, Mandelson encourages Epstein to tell Jamie Dimon, the head of JP Morgan, to mildly threaten the government around banker's bonus tax plans. Three months earlier, Epstein had sent£10 ,000 to Mandelson's partner, now husband from osteopathy. Of course, and in May 2010, Mandelson gave Epstein advance notice for€500 billion bailout from the EU to save the euro. Over to you. There were exchanges with Epstein during the five days between the election that led to David Cameron being prime minister, those five days between the election and the coalition being formed when Gordon Brown was kind of trying to hang on.
7:26And I was in the room for most of that time, and as was Peter. There's a sort of curious mix of the obvious shocking sense that he's actually talking to Jeffrey Epstein about that while it's happening.
7:41Rory Stewart:You almost could have been in the room when he's texting under the table to his mate, Jeffrey Epstein, while you're trying to pull stuff together. Well, I don't know, but there's one bit where he talks about, he describes how there is, you may know, there's this secret passage from Number 10 through underground to the Ministry of Defence, where if you're as tall as I am, it's quite a difficult place to walk. And he talks about how he's going there with Gordon. In that case, he's sort of showing off. I think it is a form of showing off. Look, I was paranoid to the point of, I don't know how you describe it but i was always very conscious when i was talking publicly doing briefings or talking privately including to colleagues just be very very careful with what you know that has the potential either to move the markets or to move the political dial just be very very careful and and this presume so let me just go back to the base of that so you'd been a journalist professionally you then come in to be director of communications and one of the big changes is you go from having a job of essentially trying to get as much information as you possibly can out of the government, to now understanding that you're privy to government secrets and there's some things which actually journalists shouldn't know because it's against national interest.
8:49Yeah. You know, we talked when the budget, the recent budget was published, we talked about just how incredible it was that so much stuff got leaked out. I mean, you're always talking to people, you're having private conversations, you're having public conversations, but you've just got to be very, very wary. And what you have a sense of with some of this stuff that Peter was sending to Jeffrey Epstein, including in one case, you know, quite a detailed note about some decisions that were being made in relation to the management of the global financial crisis. Now, every line of that has got the potential to be market sensitive.
9:19You just got to be very, very careful.
9:21Rory Stewart:And everybody in the system is aware of it. The Treasury officials are incredibly aware of it. So, Sir Nick McPherson, who was eventually the permanent section of the Treasury, talks about his unbelievable shock because the one thing that senior Treasury officials are aware is that you can make an enormous amount of money if you know what the government's going to do before it's going to do it, right? Or even to go back to the sort of walking under the tunnel, you know, if and when a prime minister is going to resign, it's not just that that's big news, but that is news on which people are betting.
9:50I don't just mean betting at the bookmakers, I mean betting.
9:53Rory Stewart:On shorting markets and bond markets. On shorting markets and the bonds. So there's Epstein, who is not just Epstein, the guy who's got his sort of, as we see from these files, has got his tentacles into all sorts of people across economies all around the world. But it's, you know, one of his, he's talking there about, there's one point, which again, I think was people were genuinely shocked by, where Alistair Darling is chancellor and Epstein is lobbying Peter, it would seem on behalf of Jamie Dimon, J.P. Morgan, who was one of Epstein's associates. And Peter is advising that Jamie Dimon mildly threatens Alistair Darling, with presumably saying, you know, we're a big bank, we've got a lot of interest we can pull out if you don't do what we want.
10:43And again, that to me is just like, I mean, look, I've known Peter for a very, very, very long time. We've had a very up and down, checkered relationship. But that stuff I found really shocking.
10:55Rory Stewart:One of the things that I'm trying to get my head around is before they sent Peter Mandelson to be the ambassador in Washington, so Keir Starmer, Morgan McSweeney, et cetera, will have vetted him before they decided to send him out to be the ambassador to Trump just over a year ago. And they will have been aware already that he's somebody who knew Jeffrey Epstein. And they will have been aware that this was probably the biggest story in the world. So they will have sat him down and they presumably would have said, now's your opportunity. Tell us everything about your relationship with Jeffrey Epstein.
11:27Rory Stewart:so that we can understand. I mean, did you take money from him? Did your husband take money from him? Did you pass information from him? Was he trying to get you positions on boards? Were you staying in his private apartments after the thing? Tell us about the relationship with Epstein. And what is it you think happened in that meeting? I don't know. I honestly don't know. I think what happened with that, and we talked about this at the time, Peter was always going to be a risk as an appointment. And why was he always going to be a risk? Because you look at the record. you know we had two very very high profile resignations both of them really relating to issues of powerful men with money and you know you've seen me in places like Davos I have a I have a natural not revulsion is the wrong word but I'm I'm naturally very suspicious about very very wealthy people I look at the MAGA crowd now and I feel that's justified just be careful with them.
12:25Whereas I think there's something in Peter that he's drawn to them, finds them interesting, finds them attractive. And, you know, people are interesting that have got sort of all the sort of connections that Epstein has. But I think it was a risk. But on the vetting, you see, I think what happens, you know this from having been a minister. So when I went into government as a government spokesman, I was vetted in all sorts of different ways. But politicians aren't vetted in the same way. So Peter's been a politician. He was an MP, then he became a cabinet minister, the European commissioner. Now, at various stages, there may have been background vetting going on.
13:04But I think actually what you think with particularly very high profile politicians, of which Peter has been for a very long time, whether there's just a bit of complacency in things, well, if there's anything really bad, it would come up by now. And I just don't know. So I don't know that I look, the way this thing has developed, you know, he's had to resigned from the Labour Party. There's this talk about him, whether he loses his peerage or whatever. I doubt very much whether he'll be appearing in the House of Lords anytime soon. But at the same time, you do now have some pretty senior people inside the Labour Party calling for the police to get involved to see whether there was actually any potentially criminal insider trading type activity going on with this interaction with Epstein.
13:44I think this is damaging to all of us because it just looks, I don't know, it's not just the, you know, there we are, New Labour, I would argue, and I see part of my kind of role in life actually as making the case as to why New Labour was a successful political project. And this just kind of drags you down again. So I think it's bad for Labour now. I don't think it helps in relation to this by-election that's coming up. It just looks like politics is a kind of horrible, murky game. And the thing about Peter Lut, he's got all sorts of talents. But you know, you know this, because we had conversations about it at the time.
14:26I think it was always going to be a risk. And I think part of the appointment at the time was actually Keir, possibly even more so Morgan McSweeney wanting to project a sense of big characters, not afraid of having big characters around. And, you know, Peter is talented. There's no doubt if you push to one side, the reasons for his resignations, he was an effective cabinet minister. He was an effective European commissioner. People say he was an effective ambassador, but I think he's two weaknesses to me. One has always been, he's constantly wanted to tell the story about how effective he is rather than just get on and do it.
15:03I've seen the whole third man thing, you know, the title of his book was all about kind of you know i'm just as important as they are kind of rather than just get on and do the job and yeah and be the kind of proper political operator and then the second thing is this this sort of i guess this propensity for risk and for you know men of power and wealth because i i think there was i mean he did an interview a while back actually quite recently in fact he's you i sense he was doing a number of interviews he did laura koonsberg There's an interview that's come out today, Tuesday in The Times, which clearly was done some time ago, which said to me he was trying to engineer a way back into some sort of public position.
15:45And therefore, he developed another narrative about himself that would maybe allow that to happen. You know, he clearly, I sense, was trying to get back into some sort of sense of back in public life. And yet he must have, I suspect he must have known there was more to come.
16:02Rory Stewart:I mean, I always feel that with a politician, it's that terrible sense that I think a lot of my colleagues went through once the press is after them, that they're lying there in bed with their partners thinking, are they going to find out this? Are they going to find out that? What skeletons are they going to find? Or you develop an attitude that says, well, yeah, that brought me down, but I came back. And then that brought me down, but I came back. And I can do it again. You know, we saw with people like Marco Rubio in Davos, you know, people in public life can often, they're very good at giving themselves narrative.
16:41You know, the old Marco Rubio would be completely ashamed of what Marco Rubio is doing now. Yeah. But the new Marco Rubio is giving himself justification for doing it. Ditto J.D. Vance. J.D. Vance, who, by the way, has been completely silent in all this stuff. And this is the J.D. Vance who said this Epstein files is going to be the thing that destroys the left. And maybe just on the broader picture, because I think, you know, here in the UK, we're all talking about Peter Manelson and to some extent Prince Andrew and Sarah Ferguson. But actually, there is so much in this latest batch that is bad for Trump, that is bad for Melania, that is bad for Howard Lutnick, that is bad for Bill Gates, that is bad for Elon Musk, that's bad for Peter Thiel, that's bad for Steve Bannon, who's in there boasting that he's kind of got his Nigel Farage and Le Pen around his little finger.
17:33So there's so much stuff in there.
17:35Rory Stewart:We'll continue to go through these allegations. It's also worth remembering, and this applies to people like Peter Thiel and Elon Musk and Donald Trump and Bill Clinton and even Peter Mandelson and others, that Epstein was also a notorious liar and a blackmailer. People like Bill Gates very, very firmly are on the record saying all the emails from Hepstein to him suggesting the most outrageous things are completely fabricated. So one of the challenges to this whole thing is trying to work out where the truth lies from a man who's taken his own life, where some of the victims have taken their own lives, and where criminal cases haven't yet been finished, which I guess may have been one of the reasons why Department of Justice was reluctant to release all this stuff.
18:17You've worked in the States and you've worked in the kind of charitable sector trying to get these very, very wealthy people to give you money. I don't know how much time you've had to actually look at this latest stuff because there's so much stuff. But what's your US take on it?
18:31Rory Stewart:Well, let's start with that, because one of the questions is, what the hell did all these people? And, you know, you've mentioned some, and you can add Woody Allen and Larry Summers, and, you know, George Stephanopoulos is turning up at parties and George Mitchell, right? So what are they all doing? How do they all get dragged in? I was thinking about this, and I do know, partly because when I was fundraising initially at Harvard and charities and many other things, I saw a little bit of this world. And the first thing is that somebody like Epstein is able to network by leveraging money and contacts.
19:09Rory Stewart:And in the case of Epstein, this is an evil man who is also simultaneously trafficking and abusing vulnerable underage girls. But the bigger story actually applies to many, many, many of these people, their ability to create these networks. So what actually happens at Epstein's parties? Number one, let's take Larry Summers. So Larry Summers is somebody I know reasonably well. He was the president of Harvard. also cabinet minister and account was actually the treasury yep under bill clinton so really big figure and was the chairman of open ai most recently just had to resign because of epstein so what happens there well first thing is um epstein is somebody who's giving money to harvard gives eight million dollars to harvard so one of the things these universities do they're perpetually fundraising or anyone running a charity they're always short of money so someone comes to you and they'll say listen you've got to meet this guy jeffrey epstein he's extraordinary he could give you$8 million like that if he wanted to come along to the dinner party meeting number two it turns out Larry Summers is raising money for his wife's small charity so so now we have the university which is professional we have the wife number three Epstein is giving him dating advice so the texts going back and forth are Larry saying uh I went out for dinner with this girl but she hasn't been back in touch with me for a few days and Epstein's writing back saying don't worry about it larry play hard to get she's pretending she's going out with a biker but really you'll get back in with other ones these billionaires he's giving them apparently medical advice on their sexually transmitted diseases with a wealthy emirati who owns a huge global company that's this man called sultan ahmed bin sulim they're sharing pornographic videos with each other they're sharing sick jokes so guys going out in dubai and epstein's like no girl in dubai is safe tonight but they're also trading endless micro favors so sultan bin abu sen will say i'm going to the trump inauguration can you arrange for trump to shake my hand and epstein's in front of trump's right then epstein will get back and say i have another sexually transmitted disease say i have a russian woman who i want russian women who i want to be trained as a massa can you arrange for comes to be trained in a hotel in Turkey.
21:26Rory Stewart:Then he will get in touch with a Turkish billionaire who owns a huge hotel chain, who says, no problem, I'll make it happen. Now, if you break down all the things that I've mentioned in my last sort of two-minute rant, there are so many different things going on there. There's professional fundraising, there's personal fundraising, there's business connections, there's political introductions, right? Now, add to this, he also will invite Nobel Prize winners to dinner. He will put 21 physicists on a private island with him in order to discuss the future of gravity. You go to a dinner at his house, and you've got Nobel Prize winners on one side, and you've got film stars on the other.
22:05Rory Stewart:And then he does another trick. I'm going to stop doing this, but I just want to sort of explain the way that someone like this works, right? He now becomes the guy who, if you want to know what's happening in British politics, he's got Mandelson on the speed dial. If you want to know what's happening in Israeli politics, Ehud Barak is staying in his house. He's got insight into what's happening in Russia. He's also offering his services, it strikes me, to the Russians in how to deal with Trump. Offering services to Russia and how to deal with Trump. And then there are all these Russian girls.
22:35Rory Stewart:There's a very interesting question of intelligence connections with Russia, with other intelligence agencies around the world because he's the perfect agent of influence for intelligence agency because he can compromise people. He can blackmail people. He knows everybody. He's also moving their money around. So let's imagine you were a big American investment bank. Like JP Morgan. Like JP Morgan, which actually instantly has settled separately with Epstein's victims for other stuff. But let's not get specific on JP Morgan. Generally, the structure is like this. Somebody contacts you. They could be from a country that's on the edge of being sanctioned, or there could be some questions about where their money came from.
23:12Rory Stewart:You facilitate with the American Investment Bank to open an account for them. You provide tax sheltering advice so that the person putting the money in doesn't get too involved. Then in return, you help the bank get inside information on how to change banking regulation in another country. And at the center of this whole world is this guy. Now, the really extraordinary thing is not how people are seeing him before 2008, because before 2008, the story is quite straightforward, right? I say to you, Alistair, listen, you know, your interest in raising money for this mental health charity, I know this amazing guy called Jeffrey Epstein, who has these incredible parties in his penthouse in New York.
Read the full transcript
23:52Rory Stewart:Come along. It's extraordinary. You will meet Woody Allen. You will meet a Nobel Prize winning physicist. Larry Summers will be there. He'll write a check for you. Oh, and listen, if you are late for a football match, he's got a private plane and he'll fix it to get you there. But then he's sent to jail. He's sent to jail for trafficking. And the extraordinary thing is that then after 2008, Mandelson continues to stay with him. A lot of these people that we've mentioned, very, very well-known people, continue to go to his parties. Including people like Howard Lutnick, current commerce secretary, who has made a big thing about how he and his wife were disgusted by this guy way back when.
24:34But now we see the email saying, can we come to the island? Can we hang out? Elon Musk endlessly trying to hang out with him.
24:40Rory Stewart:Steve Bannon trying to get us playing. Richard Branson saying, come around to the island, bring your harem with him. So my question is, what is it that they told themselves? Is it that nearly 20 years ago, somehow people could convince themselves, some people, Not Tina Brown, who, to be fair, when she's invited to one of these parties with Woody Allen and Jeffrey Epstein and Charlie Rose is like, what the hell is this? A predator's party. No, I'm not going. You can F off, right? So there are people who already by then are like, excuse me, no. But a number of other people, apparently from a certain generation, are somehow saying, I don't know what they're saying.
25:15Rory Stewart:Maybe they're saying there's some misunderstanding. He slept with a prostitute that got caught up in the law somehow, but he served his time. It's fine now. He's a great finance president. I know that Peter Mandelson said that, you know, he wishes he hadn't believed him. And I guess what he was being forced to believe or asked to believe was that somehow, and this is what predators do, they project themselves as victims. So, you know, somehow the system is working against him, whereas in fact he's got the system in the palm of his hand. And then presumably it helps if at the same time that you're going, everybody else is also going.
25:50That's how great networkers work. People are drawn to them in part because of their network. And this guy had an incredible network.
25:57Rory Stewart:So when the Massachusetts Institute of Technology is taking money from him and also getting him to invest in startups, he is doing this trick of saying to MIT, yes, I'll give you money. But what I really want to do is match fund with other philanthropists. So invite the other philanthropists to the island. I'll match fund that donation. So he's then rebuilding his network after his conviction through his philanthropic giving. and i think they must be saying to themselves at the board meeting when people are like are you sure we should be taking money from this they're saying well but he's also you know talking to the clinton global initiative he's talking to his foundation he's talking to all these other things so we're probably okay they want money for their foundation i think the other thing that's maybe the difference between the uk there's lots of difference between the uk and the us but i think the role of money in their politics and their public life is it plays a far bigger role than it does here and i think people like that get away with a lot more i think the reason why this is so damaging on the political front is because you do have this sense of what what working people kind of think exists which is a sort of global elite that can get away with anything and okay epstein went to jail and he's now dead but this these papers are full of names of people And we haven't seen it all, have we?
27:12Well, I don't think we have.
27:13Rory Stewart:Which is presumably why Trump was reluctant to release the Epstein files and Biden was reluctant to release the Epstein files. I mean, Biden and Trump have been sitting on a bomb that basically detonates under everything. But my guess is, if you were to get hold of the emails of Elon Musk or the emails of Sam Altman and their photographs and things, you wouldn't get sexual predator activity, but you would get all the other stuff that I'm talking about, the peddling of influences, the introductions, the political information. Well, let's take a break.
27:52Rory Stewart:This episode is brought to you by Whoop. And I'm speaking to you, I'm wearing a Whoop device on my wrist at the moment. Politics teaches you fairly quickly that attention is finite. When attention is drawn to the loud and urgent, it's easy to miss the deeper patterns shaping outcomes. And that applies to health as well. You keep going, you meet demands, you get through the day without noticing that the cost is quietly all adding up and taking a toll. Whereas WHOOP exists to bring background picture into focus. This thing on your wrist is there showing you how your body responds to everyday life, to sleep, to recovery, to strain, and how those rhythms and trends emerge over time.
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30:37I mentioned Bannon. This is the thing. Because what I find really interesting about the reaction to all of this, MAGA and their kind of fellow travelers here, the sort of Farage reform lot, They've been pretty silent about the whole thing.
30:50Rory Stewart:Except one bitter maggot, which is completely furious and obsessed with it. Okay, but I'm talking about the leaders. Like J.D. Vance, who's got a pretty active Twitter finger. He's been silent for five days. This is the guy who said this is going to bring down the left. Trump comes out yesterday and basically just says, we've talked enough about Epstein and there's nothing bad about it for me, which is not true. He and Melania are all over this stuff. And he's broken, though, hasn't he, with Marjorie Taylor Greene, because this is her obsession instead. Why he's broken, I don't know. But let me just give you this one.
31:22There's so much stuff in here. There's an exchange between Steve Bannon and Epstein. Bannon, I'm now an advisor to Front, I think he means the National Front, Salvini and the League, AFD, Swiss People's Party, Orban, Land and Freedom, and Farage. Next May, European Parliament elections. We can go from 92 seats to 200 and shut down any crypto legislation or anything else we want reply
31:49Rory Stewart:roger that so we've got far-right nationalists we've got crypto legislation but what is he actually asking for he's asking for support financial support for their campaigns and probably also introductions to these very shadowy groups that do campaigning the kind of groups that i was talking about came to me with the london merrill thing that are going to do sock puppets things. And that's where his connection to other jurisdictions, intelligence agencies, other campaigns come in. Partly, Epstein is a massive bullshitter, right? So he's endlessly exaggerating his influence, but he will have given Bannon the impression, probably that he's worth 10 times as much as he has, and that he can make politics and campaigning happen all over the world.
32:27And the truth is, Bannon is connected to all those people. It has been helping all of those people. But I think that's one of the reasons why Farage et al have just been pretty much silent about this.
32:35Rory Stewart:One of the interesting things that goes on when you read this is that they're all bullshitting each other. Yeah, for sure. But just to give you a few more, because I mean, there's so much stuff in here. But like, so for example, Epstein setting up a meeting between Peter Thiel, tech bro, libertarian, and the guy that Biden was going to make head of the CIA in 2014. And doing that, not just saying he's doing it, doing that. Thiel comes up a lot in this stuff. Peter Thiel is also the major cornerstone investor in tech companies, employing former CIA staff and working on contracts with the CIA and the Department of Defense to deliver.
33:15Rory Stewart:And he's meeting the new director of the CIA. So there is a direct commercial interest for Peter Thiel. And the nominated future director of the CIA should not, in a functioning system, be meeting Thiel without officials in the room because of the sensitivity of the procurement contracts. Right. But look at the world that we're in now. I mean, that was in a world where there were kind of rules and there were guardrails. And now we We have a president who says he doesn't need rules and he doesn't need guardrails. He just needs his own morality, whatever that might mean. We then have Thiel essentially, this goes back to my sovereign individual theory of life, essentially saying they need more chaos.
33:52When there is chaos, this is on the international front, America has a better chance of becoming a hegemony. This is him saying to Epstein. He and Epstein have this conversation. I mean, Elon Musk comes over as truly pathetic in these. you know i've had this theory that musk's big you know the guy's smart and he's built himself into you know supposedly the richest guy in the world but he has this embarrassing need to be cool and to be considered funny so he's constantly badgering epstein to know when the coolest party is going to be on the island where they can go there epstein's helping him sort his publicity for tesla epstein was also giving peter mandelton advice on his biography he's just sort of he's into these people at every level all of the time.
34:36Rory Stewart:And he connects more. So the man that I was talking about who he's doing sick jokes about chasing girls in Dubai is also getting in touch and asking whether Mandelson can be on the board of his new company. And then he's reaching out to Mandelson recommending. So he's got something different for everyone. For some people, it is very, very young girls. There are other people in his network who are not interested in that at all. Peter Mandelson is gay. There's no suggestion, presumably, that some of the women he's dealing with are interested in young women. right? They instead are chasing him because they want tiny bits of money for their partner, or they want money for their charity.
35:11Rory Stewart:The third category is people like Elon Musk, who may well not be interested in any of that stuff, but just wants to be at a cool party. Steve Bannon, a lot of what he's texting about is, can I get on your plane? Can I have a free plane ride? The genius of Epstein is to be able to use the ability to offer something different to everyone. I mean, even you ended up in this apartment, right? Yeah, I did, yeah. And you met him. I did. Right. Once. Yeah, no, but I mean, if I was honest with myself, would I, when I was running a Harvard Center 2008, before he was convicted, if somebody had said, oh, you've got to get together with this amazing guy who has these great parties in New York, he could give money to your center, come along with me, I'll take you to the dinner party?
35:59I think maybe the fact that I met him on my own in some very odd circumstances where I just bumped into Ghislaine on a plane and she said, what are you doing tonight in New York and come and meet my boyfriend, that it was one-on-one. Because he, I'm not saying this in hindsight, I said it at the time, he gave me the creeps. Right. Not in any, he wasn't sort of saying, oh, do you want to come and meet some young girls? There's none of that. Right. But he gave me the creeps. Right. Mainly the name dropping. Right. And the sense of being the center of his own universe.
36:26Rory Stewart:Presumably, though, you failed the test in a way also because his name dropping is designed to try to see whether you're prepared to drop names with him. And as he explores these different contacts, are you getting interested? And are you, Alistair, going to say, oh, well, actually, I know this guy and there's a business deal here or here's some gossip from this particular world leader? And the only thing that's interesting when you see, because yet again over the papers today, there's the picture of Peter Mandelson in his underwear. What's with the underwear? Why is he standing in his underwear with a girl in his room?
36:57I wonder whether Epstein was filming everything that went on within his houses. Oh, yeah, I think definitely. So that picture is probably... And Peter's not going to volunteer to have himself his pitch taken.
37:07Rory Stewart:No, no, no. These pictures, if you look at all the pictures that are being released, so many of them have been deliberately got by Epstein because he has something over you. It's no accident that his pictures of Prince Andrew are pictures of him trying to kiss someone or lying over a girl or mandelson in his underwear or mandelson in his bathrobe but but it is also questionable what is the nature of the world in which mandelson is operating that epstein can walk in when he's in his underwear and take a photograph of him now i'm wondering whether it is even a photograph or is it a secret camera whether it's just some sort of cctv i don't know i've got no idea i i almost get the impression because of the way they're looking at them, they're often looking up.
37:49Rory Stewart:He's come in and sort of surprised them and taken a little picture of them. But that particular one, isn't it? It's like, literally, it looks like somebody's briefing or dictating. I don't know in a weird way what's more creepy, hidden cameras, or the idea that actually you've created a world where everybody's in a permanent state of undress and your host can walk in and out taking photographs of you. Can I finish with a big politics point, which is how do we protect our democracies against this, right? We've got There's hundreds of MPs on low incomes, some of them very insecure, struggling to get jobs when they leave.
38:22Rory Stewart:They are perfect prey for wealthy, well-connected men who can offer them board positions, invite them to parties, put them on private planes. we have to think about what it is with laws structures incentives culture which stops this happening again and again and again because we've only seen this because epstein happens to be the most famous sexual predator in the world who killed himself otherwise we'd never seen any of this right madison would have got away with this for the rest of his life And my guess is there are dozens, dozens, dozens of people involved in very, very odd relationships of this sort.
39:04Rory Stewart:And that's why I think that although Keir Starmer is a very honorable man, he should not actually even have been taking favors like glasses, clothes for his wife, etc. because as soon as you get into these relationships however innocent they seem somebody's got something over you you know once they've bought close your wife they can always pick up the phone and you've got to pick up the phone no i think you've got to be very very wary of it a lot of people are not i'm afraid i think it's partly the influence of american politics american politics has a massive influence on all of us all of the big democracies and it is driven by money it's driven by the lobbyists it's driven by and what we're seeing now with trump is a level of open admitted boastfully embraced corruption that is almost unthinkable but with the reason why i find you said you're going to make a political point the reason why i find this politically so upsetting and so difficult is because it just it feeds into this idea they're all at it.
40:06They're all the same. It plays into that kind of anti-politics agenda. And the truth is, I hope people get the message that actually know we're not all the same. We're not all driven just by money. We don't all see a link between connection, network, and policy decisions. We're not all insider traders. But it's terrible. It's terrible for politics. And the thing about Trump. I mean, Trump just brazenly yesterday says, oh, people fell up and talk about Epstein. There's nothing bad about me. There's loads of stuff that's bad about him. But he managed to drown it out. This week alone, he's the most mentioned person in the files.
40:47He's had this big crypto thing going on with the Emiratis, which is, again, no previous president I don't think would have done. He's suing the IRS for, is it,$13 billion because they put out his tax returns. is suing the comedian, Trevor Noah. They've arrested Don Lemon for turning up a protest, and he's announced the closure of what was once the respected Kennedy Center, which is now the Donald J. Trump Kennedy Center. This is the Steve Bannon flood the zone with shit. And nobody knows where to look. And I think the success, this is what the American media and American polities really need to look deep into themselves for.
41:30They've allowed something to be created where scandal is no longer scandal. It's just a story and it lasts half a news cycle.
41:40Rory Stewart:It's a scary, bad world. I wonder actually whether we may not be underestimating the damage this will do to Trump because Marjorie Taylor Greene famously has broken from Trump around this issue. I think the MAGA base has made the Epstein files, I'm not talking here about the leadership, I'm talking about the base has made the Epstein files right at the heart of their whole ideas of conspiracy theories, politics, child sex rings, etc. And of course, there's a bit of this which actually seems to be a real life version almost of a kind of QAnon conspiracy where genuinely powerful wealthy people are involved in abusing underage girls.
42:21Rory Stewart:So I think it will damage Trump. It's probably the one thing for his base that he's done, more actually than what ICE has been doing, more than what he's been doing in terms of domestic civil liberties. Given that their whole movement is about an out-of-touch billionaire elite class that's above the law and is abusing underage children, I think this is a big problem for him. even though Trump has sort of just weighed this latest batch away in that way that he has, and he's helped to do that by lots of the media. I think you're right. I think there's a lot in here that provided the American media doesn't just play his game, I think has the potential to do him damage.
43:05But I think on your bigger point, I think this is so damaging for politics everywhere. because your question about how do we deal with corruption if you have what is seen and what is styled as the leading democracies of the world in america's case so drowning in this stuff uh you know where we talk about billion dollar campaigns or even local campaigns you are so dependent on going out to the people with the money who then want something in return so i think unless we do get away from the way that money controls politics, then we're all going to drown with this stuff. Because the truth is, American politics is so dominant in all of our lives right now.
43:46Rory Stewart:So first thing we could do is campaign finance reform. I mean, what I found when I went from running as a local constituency MP to trying to run for mayor of London, where I needed to try to raise a million, two million for a race, is suddenly you become very, very aware of how compromising that is, trying to get people to write you checks of 10, 50, 100 ,000. so campaign finance reform Tories shouldn't be funded by the very wealthy Labour shouldn't be funded by the trade unions we should do what Malinowskis is doing in South Australia who's funded by Iranians he's offered with some church warden with links to Kazakhstan that's why he was in Dubai or somewhere getting more money on crypto and are living in Thailand etc absolutely so campaign finance reform number two I'd like MP's salaries and pensions to be increased so that they're less tempted to get involved from this dubious stuff.
44:34Rory Stewart:And you would combine that with very, very strict rules, very strict rules on what jobs they can take within three years of leaving parliament and make sure that they're properly paid and rewarded so they're not tempted to bend those rules. And then I'm afraid absolutely, and this again is something that Farage has done again and again, come down like a ton of bricks on people like Farage and Boris Johnson who don't properly declare these trips, this connection. I mean, what is the Lebedev party story with Boris Johnson other than an exact version, minus the underage girls, of the Epstein story?
45:11Rory Stewart:Glamour, film stars, celebrities, party, networks, connections, money, intelligence, connections, compromise, and finally ending up in the House of Lords. So I would love to see maybe Keir Starmer, because this is in his wheelhouse, making cleaning up politics part of his business. But you don't clean up politics, I'm afraid, by continuing to reduce MPs' salaries to their pensions. You just create more and more desperate people who are going to get greedier and greedier. Not all of them. I mean, there are figures like Jeremy Corbyn, who I suspect is not on the make. Let's be fair, there are a lot of MPs who are not bent.
45:50There are a lot of MPs who are not into the
45:53Rory Stewart:saint. He did very well, didn't claim his expenses. But I saw Peter Madison in 2011, 2012 going around handing his business card out to people. I saw people in my own party moving on and getting jobs. I saw this whole question of what are you doing putting MPs on your board? What's it about? What are they bringing to the party? Well, they're not bringing great expertise and private equity. The only thing they're bringing is connections, lobbying, et cetera. So cleaning that all up, so important. I think we've kidded ourselves for a long time that because we're not as bad as America, we're not a corrupt country.
46:34No, we're not as corrupt as America. Our politics is not as bad as American politics. But there's another example where we just turned blind eye. You mentioned the Lebedev trip with Johnson. We still don't know what that was about. I mean, why is Lebedev in the House of Lords. Why did Roman Abramovich end up owning Chelsea? I mean, Bill Browder was genuinely shocked that the British establishment, of which at that time I was a part, allowed this stuff to happen. So I think you're right. I mean, look, we said this when Labour were in opposition, I think cleaning up our politics, making people feel that democracy means something, I think it's an urgent political challenge.
47:13And, you know, if you're Keir Starmer, there he goes off to China, has a pretty successful visit comes back, does a statement in the House of Commons and what was he had to talk about yesterday? Epstein-Mandelson corruption in politics got to clean it up ok and tomorrow we're back with question time we're going to talk about Iran and we're going to talk about Hungary election coming up there we're going to talk about the upcoming by-election in Manchester and a very interesting special election that's just happened in Texas with a massive swing against the Republicans. See you then.
47:47Rory Stewart:See you then. Bye-bye.
47:55Rory Stewart:Rinse knows that greatness takes time, but so does laundry. So Rinse will take your laundry and hand deliver it to your door, expertly cleaned. And you can take the time pursuing your passions. Time once spent sorting and waiting, folding and queuing, now spent challenging and innovating and pushing your way to greatness. So pick up the Irish flute or those calligraphy pens or that daunting Beef Wellington recipe card and leave the laundry to us. Rinse. It's time to be great.
From the publisher
What do Peter Mandelson's ties to Jefferey Epstein reveal about the influence of the rich and powerful in British politics? Why did so many prominent figures continue associating with and supporting Jefferey Epstein after his conviction in 2008? How do wealthy elites exploit political systems, and what structural reforms can protect democracies from corruption?
Join Rory and Alastair as they answer all these questions and more.
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