Tuesday, February 19, 2008

Vince Cable airbrushed out of heavyweight account of Northern Rock imbroglio 

With great timing a new book I mentioned before lays bare most of the background you need to understand the Northern Rock imbroglio and what led to today’s Nationalisation moves.
I say almost, because for some reason the author, while discussing the events of Autumn 2007 (and indeed the previous few years) with considerable astuteness, utterly fails to mention either the warnings of Vince Cable or the other relevant interventions by economically superbly well qualified Liberal Democrats.
He can hardly have failed to notice these as he has been the BBC Business editor since February 2006 and previously was City Editor of the Sunday Telegraph.

Despite this huge gap in the narrative, Robert Peston’s book ‘Who Runs Britain?’ is well worth reading. It is on a lot more than NR…

Maybe we should go onto Peston’s blog and ask him for his assessment of the Cable contribution to understanding what is what in this matter, and perhaps why he failed to enlighten his readers as to who in the political world was trying to man the gates against the barbarians.

He does mention the piquant fact that the man selected to be executive chairman of the Nationalised Rock is enjoying non-domeciled tax status. However Ron Sanders intends to pay UK tax on his earnings from managing NR.

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