What loans-for-honours really shows is that nobody believes a word No. 10 says any more

If nothing else, Lord Levy has at least learnt the etiquette of being investigated by police. When he was first detained last July, he contemptuously accused officers of using ‘totally unnecessary’ tactics. On Tuesday, he emerged from the police station without a word — and said, through friends, that he was feeling ‘on very good form’.