An ugly sight

Eeyore and Badger's 9am press conference passed off rather more calmly than the circumstances deserved.

But why did no one ask our fairy-folk fiscal leaders about their famously fictional "no more boom and bust" statement? Will JK Rowling also be writing Darling's next budget statement, I wonder?

Why did no one stand up and ask "You philandering scumbags, this all happened ENTIRELY on your watch - so just tell us what happened and why it will not happen again. And who is responsible..."

Broon actually crowed that he had cannily invested at the bottom of the market! If that is not insider trading then we're not sure what is. TMP wouldn't care if its LloydsTSB shares were now wiped out - as long at it took Eeyore and Badger with them.

The main reason to be suspicious that we've all been had once again is the parade of bankers, politicians, trade union leaders and city gents, all heaving sighs of relief and uncritically praising the plot. Boy, are we screwed.

However, upon deeper consideration of the terms being imposed for this deal, it seems that other bankers would rather try harder to avoid taking the Broon billions than submit to a process that will unjustifiably bolster Broon's standing in the polls, and possibly might actually perpetuate the underlying malaise through Broon's insistence on continued lending to what the banks regard suspiciously as potentially dodgy risks, AKA Labour voters.

Markets seem to have weighed this up and driven the price of both HBOS and LloydsTSB lower on the presumption that Broon's pet banks are going end up as the basket cases of Broon's beneficence. The equity markets were going to bounce today anyway, TMP has already said so and explained why.

TMP believes that the fat lady has yet to clear her throat on this one. Suspicious bankers who would like to declare Emperor Brown and his tailor Darling to be stark naked once again, may sense the upbeat mood being frantically perpetuated by the BBC's familiar cheer leading, would not regard any boat rocking too kindly. Yet.