Gordon Brown was last night accused of taking Britain "back to the 1970s" after the UK Government admitted it had failed to secure a private buyer for Northern Rock and had no choice but to nationalise the crisis-hit bank. Anorak told you weeks ago.
Today, the Prime Minister and what has to be the soon Ex-Chancellor Alistair Darling will face a political whirlwind as the full implications hit home of taking the mortgage-lender into temporary public ownership. The closest non-action example would be Nero fiddling with his strings while Rome burned.
The move is a risky strategy. The long-term plan is to return the bank back to the private sector. It is hoped that better market conditions will make Northern Rock a more appealing prospect to buyers.... and we told you.
Brown faces journalists at his monthly Downing Street press conference. It will be a Rocky Horror Show. Four hours later, Darling will attempt to do the same before MPs in what is bound to be an animated Westminster Parliament.
Emergency legislation to nationalise Northern Rock will have to be rushed through the Commons and the Lords. This morning, shares in the bank were due to be suspended.
Last night, George Osborne, the Shadow Chancellor, branded the UK Government's decision "catastrophic". Conservatives will be hoping this is Mr Brown's equivalent of the ERM debacle of Black Wednesday, which paved the way for John Major's defeat in 1997.
Here at Anorak we predicted this was the only outcome of the Northern Rock disgrace.
The former Chairman Matthew Ridley walked, with an aristocratic shrug. He is the future Viscount Ridley and as such is within the Establishment financial structure. One of the "Them". So far, no charges have been levelled at Northern Rock directors but I have to say, it is long past time this incompetence was halted and the government let slip the Dogs of Retribution. SOMEONE has to be held to account here.
Professor Matt Ridley is also famous in academia for published works on sex and sexual mores. Good, because he has demonstrated a Ruling Class trait of voyeurism and watched down his astristo shnozzle while an admittedly unqualified and unworthy Chief Executive Officer, Adam Applegarth, screwed the bank, at least one female bank employee in an adulterous relationship and the British public.
That has to be in line for a Guinness World Record for the largest gang bang.
....and Anorak told you...over and over, and over, we TOLD you...
Prof. Matt Ridley is also famous in academia for published works on sex and sexual mores. Good, because he has demonstrated a Ruling Class trait of voyeurism and watched while an admittedly unqualified and unworthy Chief Executive Officer, Adam Applegarth, screwed the bank, at least one female bank employee in an adulterous relationship and the British public.
That has to be in line for a Guinness World Record for the largest gang bang.
No that's not a mistake; it is such an accurate summary I've repeated it, just so I can say we TOLD YOU!!
Here's another Anorak forecast. The Edinburgh MP Alistair Darling is not going to be Chancellor of the Exchequer for very much longer. Premier Gordon Brown has to throw at least one colleague onto the funeral pyre and the dithering Mr Pasty he has placed in his old chair will have to go. If Brown has ANY sense at all there will be also be a massive shake of both the Treasurery branch of the Civil Service which has shown its total ignorance of things financial and the alleged watchdogs of the finance industry which have utterly failed here.
The culling should start at the Bank of England today.
..and just so it is clear here. It was NOT me who first flagged this up to Anorak's scrutiny and ridicule.
First to see the potential disaster was Bob Green.
It was a great spot then and it still is. Well done.
...and another all together different thing...don't think we won't keep reminding Gordio about his acquiescence in the Dr David Kelly tragedy....lest they think we forget and follow the Blairite mantra to move on.
The penny is just starting to drop with politicians the game's up. They are stuffed. The speed of communication means you shape opinions by contributing to Anorak and sites like it.
WE remain the best, though, but like.(Geordie Jimmy Nail/Northern Rock speak)
So come on. Speak UP!