Unprecedented

The fact that the Governor of the Bank of England gave an interview on the radio suggests that his job is under serious threat, and that he is putting his understanding of events in the public domain before "they" get rid of him.

What emerged in the "File on Four" revelation is that the Chancellor was aware of the difficulties of Northern Rock at an early stage, that it was his decision not to help Lloyds TSB take over the ailing mortgage lender, and that he endorsed the decision not to make money available to financial markets over the summer.

Mr. Darling, of course, is new to the job, and he could argue that such a "run on the bank" had not happened for 140 years. He may be new, but does anyone doubt that he is merely the puppet, while the thoughts, words and deeds are those of the puppeteer, - Mr. G. Brown?

Brown's reputation is ultimately at stake, so he will be smearing and blaming everyone but himself. Expect the Governor to be replaced (- he has committed the ultimate sin by revealing the ineptitude of the Treasury)! But if the Governor has full evidence to back up his allegations, to overcome lies which may be cast at him, then the new Chancellor may soon become the ex-chancellor.

Who would want to take the poisoned chalice next, - the fighting Mr. Balls? There is no obvious candidate of stature, although the chancellor under this government needs be no more than a mouthpiece or a puppet.