Opinionomics | 11 April 2012

Must-read comment and analysis. Featuring HST, and H5N1.

1. High-Speed Trading Is Progress, not Piracy (Bloomberg View)

Bernard S. Donefer writes in (muted) support of high-speed trading. Reading between the lines, he appears still to be damning with faint praise; "it doesn't cause crashes!" is hardly enthusiastic.

2. Argentina, Elliott, and the pari passu war (Reuters)

The dust appears to have settled after the Greek haircuts and debt-swaps; but as Felix Salmon reminds us, these things take a while to actually clear up. Argentina is still in court today, fighting the last of its creditors.

3. Technology: The risks of research (Financial Times)

Andrew Jack writes the FT's lead analysis piece today, on the risks and rewards of experimentation with the deadliest pathogens.

4. Peter Singer and Tyler Cowen in conversation (Jeff Kaufman)

Three years ago, economist Tyler Cowen interviewed ethicist Peter Singer about "morality, giving, and how we can most improve the world"; last week, Jeff Kaufman went to the effort of putting together a transcript of the conversation.

5. Is austerity self-defeating? Of course it is (VoxEU)

Jonathan Portes, the director of NIESR, writes against austerity in Europe.

Ferrets are used in many flu tests, since they catch the same bug as us. (Getty)

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

Photo: Getty Images
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The buck doesn't stop with Grant Shapps - and probably shouldn't stop with Lord Feldman, either

The question of "who knew what, and when?" shouldn't stop with the Conservative peer.

If Grant Shapps’ enforced resignation as a minister was intended to draw a line under the Mark Clarke affair, it has had the reverse effect. Attention is now shifting to Lord Feldman, who was joint chair during Shapps’  tenure at the top of CCHQ.  It is not just the allegations of sexual harrassment, bullying, and extortion against Mark Clarke, but the question of who knew what, and when.

Although Shapps’ resignation letter says that “the buck” stops with him, his allies are privately furious at his de facto sacking, and they are pointing the finger at Feldman. They point out that not only was Feldman the senior partner on paper, but when the rewards for the unexpected election victory were handed out, it was Feldman who was held up as the key man, while Shapps was given what they see as a relatively lowly position in the Department for International Development.  Yet Feldman is still in post while Shapps was effectively forced out by David Cameron. Once again, says one, “the PM’s mates are protected, the rest of us shafted”.

As Simon Walters reports in this morning’s Mail on Sunday, the focus is turning onto Feldman, while Paul Goodman, the editor of the influential grassroots website ConservativeHome has piled further pressure on the peer by calling for him to go.

But even Feldman’s resignation is unlikely to be the end of the matter. Although the scope of the allegations against Clarke were unknown to many, questions about his behaviour were widespread, and fears about the conduct of elections in the party’s youth wing are also longstanding. Shortly after the 2010 election, Conservative student activists told me they’d cheered when Sadiq Khan defeated Clarke in Tooting, while a group of Conservative staffers were said to be part of the “Six per cent club” – they wanted a swing big enough for a Tory majority, but too small for Clarke to win his seat. The viciousness of Conservative Future’s internal elections is sufficiently well-known, meanwhile, to be a repeated refrain among defenders of the notoriously opaque democratic process in Labour Students, with supporters of a one member one vote system asked if they would risk elections as vicious as those in their Tory equivalent.

Just as it seems unlikely that Feldman remained ignorant of allegations against Clarke if Shapps knew, it feels untenable to argue that Clarke’s defeat could be cheered by both student Conservatives and Tory staffers and the unpleasantness of the party’s internal election sufficiently well-known by its opponents, without coming across the desk of Conservative politicians above even the chair of CCHQ’s paygrade.

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.