Might the collapse of Dunfermline Building Society turn into a political scandal? Tonight, Channel Four news has an interview with Jim Faulds, its chairman, who appears to be saying the Treasury have been lying about him. He didn’t want a bail out, he says, just a £20m loan (the spin had been that he wanted three to five times that). He also flatly denies Darling’s claim that the building society had any sub-prime exposure.
Now, knowing the chaos surrounding every bank collapse it would be shocking but not surprising if Darling had misunderstood all this. Conspiracy theorists will note that, if he has slipped, it will be a good time for No 10 to send the dogs after him – punishing him for his collusion with Mervyn King over trying to stop Brown launching a second stimulus.
Darling was sounding mighty confident earlier, telling the BBC1 Politics Show “Mervyn King was right that all governments have to take a cautious stance.
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