Another thought about the Northern Rock balls up. Not only are the Government now the lender of last resort - although one could say that was now brought into question - but they're also taking over mortgages, so what will happen when homes are repossesed?

Well, they become the possession of the Government, then they sell it, and the cash is a teeny drop in the ocean to be wasted on some latest IT system. Aren't you all so happy that our MPs are slavishly devoted to the economics of ignorance?