It's obviously deeply satisfying to see Byers and his muckers in a state of disgrace and humiliation. But I can't get that excited about the immediate cause.
Weren't they doing what generations of (mostly Tory) MPs have done in setting out to earn a few bob by parlaying political contacts into business opportunities? Think of the droves of former Tory ministers that went into the City and industry as non-execs in the course of the post-privatisation '80s and '90s.
The reason this particular New Labour collection of superannuated politicos has been caught out is that the whole market in political connections has been thrown open. The old school tie, the old regimental tie, the old college scarf, and the elevated social circle are no longer sufficient routes by which buyer and seller can find each other and do business. In an age where mediocre polytechnic lecturers become Cabinet Ministers such links have to be intermediated. Introductions have to be made, deals arranged and monies passed across a daisy-chain of schmoozers. The growth of lobbying firms is a direct consequence of this new market structure.
In this way, what looks particularly bad does so not because it hasn't happened before but because for the first time we're able to witness it in all its grisly, whoring, sordid glory.