Under David Cameron’s government Lex Greensill, through British civil servant Jeremy Heywood, found a comfortable position at the heart of the British establishment, and based on increasingly risk and possibly fraudulent financial schemes became a billionaire. Cameron used his position as Prime Minister to rally against the corruptive influence of lobbying on British politicians, but through his close relationship to Greensill earned millions lobbying after leaving office, and even picnicked with Saudi Prince Mohammed bin Salman just months after he was accused of killing journalist Jamal Khashoggi. Cameron's time as leader of the opposition through the 2008 recession, and having such a close relationship to Alexander Greensill, indicates that he must have been aware of Greensill's fraudulent conduct. This scandal demonstrates that Cameron, if not completely corrupt, was morally corrupt after leaving government, and needs to be held to account.
Supply chain financing is a traditional form of lending, but Greensill turned these transactions into assets that could be traded and speculated on, in a similar fashion to the asset-backed securitisation that brought on the 2008 Great Recession. In addition Greensill financed businesses on potential future sales, and for price volatile assets like metals you cannot speculate of future prices and therefore this sort of lending is extremely risky and probably fraudulent. This is actually a shockingly big scandal, affecting thousands of jobs in the UK and abroad as the large multinational employer Gupta Steel was heavily financed by Greensill Capital and mis-financed in this incredibly precarious way.
This may not lose political momentum in the UK if Greensill Capital's bankruptcy snowballs. Johnson's party have announced inquiries into the matter, but have been accused of making them deliberately inadequate, and on 14th April 2021 parliament voted against an open cross-party committee to look into the matter. Boris Johnson’s review is not looking into Cameron or lobbying, but into Greensill Capital and the role of supply chain finance in government. However David Cameron is an Etonian, and was schoolmates with Boris Johnson, he will not be thrown under the bus unless there is a political backlash against Johnson, or more likely Johnson’s cabinet. Members of Johnson's cabinet, such as Rishi Sunak and Matt Hancock, are personally implicated in the scandal also, making the whole Tory Party seem corrupt.