i am curious though that the media is running with this level of hypocrasy

Not sure that there is any hypocrisy, here, ecu.  Fathers (and to a lesser degree mothers) have been getting their children jobs in this way for centuries.  The father of the guy who I do Tools With A Mission with was the station master at the old Tongwynlais station and got John a job at the local boilermaker's. I know of plenty of older folk whose parents 'put in a good word' for them at this or that local business so that the proprietor took their child on rather than someone else's.

It isn't, by any means, restricted to the elite or the wealthy as a practice.  That said, I wonder whether there should be some sort of payment - and many do pay, by the way.  Only seems to be the banks and the other already rich firms who don't!!