What has this long Tory leadership contest been about now that Rishi Sunak has won? Will Tory MPs’ factional feud continue? Liz Truss, Kwasi Kwarteng, and Suella Braverman’s right-wing “populist” agenda has been rejected by the financial markets and most Tory MPs. Who were the important players in this summer-long war, and what happens next? Phil Hearse claims that Sunak’s victory represents a victory for the transnational capitalist class (TCC) over an ultra-right-wing “populist” alliance that put Truss in power.