Jim, what year was the National Folk Festival at Loughborough when you heard Bob Pegg say he was only after the money? Was it prior to 1978? On his site he says:

I wrote a couple of books, Folk (Wildwood House) - an iconoclastic look at traditional music - and Rites and Riots (Blandford), which took a similarly disruptive view of folk customs.

I have both books and the pictures alone make them worth having.
Whatever his motives, they still make interesting reading.
Robyn