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Monday, 14 January, 2008

  • Newsnight
  • 14 Jan 08, 05:31 PM

Jeremy presents tonight's programme.

Northern Rock signIs nationalisation now inevitable for Northern Rock? Tomorrow the bank's shareholders have called an extraordinary general meeting - to give them a chance to demand from the board more of a say in the troubled mortgage lender's future. But can they and should they stop the government taking control? Stephanie Flanders reports and we'll debate.

Peter Hain received the backing from the Prime Minister in the Sun this morning - at least for the moment. Mr Hain maintains that there is nothing wrong with any of the money he's taken - no conflict of interest. Paul Mason is investigating whether that's true. The Conservatives want more answers. We've also put some questions to them about David Cameron's declarations. Hopefully they'll provide us with the answers to them and we'll let you know about all of it on the programme.

Would the roads be safer - and smoother - without traffic lights? A personal - and polemical - report from one campaigner on the programme tonight which we'll debate after - read his views here and join the debate here.

Finally you might have been relieved NOT to see luvvies getting emotional at the Golden Globes ceremony - cancelled because of the Hollywood writers strike. But spare a thought for the British film industry. We hear how going without the gongs may be very damaging to one successful bit of British business.

Comments  Post your comment

  • 1.
  • At 06:53 PM on 14 Jan 2008,
  • Nick Thornsby wrote:

Sounds like it's going to be a good show. Have you managed to get a labour minister- they all seem to have mysteriously disappeared recently?! David Cameron was going on earlier about how nationalisation would be a failure of the govt- but it is only a failure because it has taken so long. The dilly dallying has been ridiculous and huge amounts of taxpayers money has been put at risk. The govt should either have just guaranteed all the savings and let the free market solve, or not solve the problems, or it should have nationalised it straight away in which case, by now it probably would have been on way to being ready to privatise again.

  • 2.
  • At 10:59 PM on 14 Jan 2008,
  • Nick Thornsby wrote:

Does Vince Cable have his own dressing room at the newsnight studio? I think he should if he doesn't. He is very knowledgeable and speaks with a lot of sense on economic matters-both the tories an the govt seem to be incapable of deploying a suitably worthy opponent.

  • 3.
  • At 11:03 PM on 14 Jan 2008,
  • Lee wrote:

It seems everyone has missed the real reason to why Northern Rock had to be financialy supported. Its because it is, for most councils, the only lender up to £10 million for both investments and loans. Therefore hundreds of Councils could be made insolvent if Northern Rock went to the wall. Its not because of the need nor will to protect individual investers.

  • 4.
  • At 11:14 PM on 14 Jan 2008,
  • Jonathan Perry wrote:

As I write, 35mins into the programme, it is remarkably weak. The Cameron story is pure puff - donated flights 2-1/2 years ago that WERE registered with the HOC. The Labour man seemed to be reading from an autocue, and had nothing but bolshie defence and prevarication to offer. What was the point?

The only thing that came to me from the the first segment was that it isn't worth mentioning the Osborne smear any more.

Northern Rock - how on earth can you ask anyone outside the govt what they would do about NR when all the important information is being concealed by the Treasury? One of the Tories a short while ago asked in the HoC what amount the B of E had lent NR - no response because it is "comercially sensitive". No info means no story.

Here's a good question. If NR is nationalised, what happens about its savings business (which is huge, even after the famous "run"). The govt will be holding on to two competeing savings busineses (National Savings is the other). I haven't seen elements of nationalised businesses competeing against each other since British Leyland! Am I the only one to think of this?

So, a weak programme, derailed by "balance" (the Cameron "story") and ignorance (Northern Rock). I'm heading back to UKGold!

  • 5.
  • At 11:20 PM on 14 Jan 2008,
  • Hedley Lamarr wrote:

Surprised you didn't mention the 4-way stop which is in use across large parts of the US. Works perfectly - first person to arrive gets to go first.

  • 6.
  • At 11:55 PM on 14 Jan 2008,
  • BillG wrote:

Very Smart of you guy's to ask the conservatives about donations registered on one system but not the other.
Stop being a waste of taxpayers money, I can't believe you really miss the point . It's not about admin / interpretation and minor errors - all agree those happen. The issue is sleeze and cover up. If parties disclose stuff its in the public domain even you can see it's not hidden.
When people fail all disclosure, until found out, or appear to have established routes to hide donors thats big stuff.
If you weant to investigate sleeze find if there is any linkage between donations and payback - If that exists and could be evidenced it would be a real big story.

  • 7.
  • At 12:10 AM on 15 Jan 2008,
  • neil robertson wrote:

Pace Jonathan Perry but I think his comment #4 is really unfair. Vince Cable was excellent in shedding a bit of light on Northern Rock and full marks to others in the studio for allowing him to lead on this.I
also loved the traffic light story!

Brilliant Jeremy tonight (50/10) particularly on the latest donation scandal with Ian Lucus & Ed Vaizey. Gosh, Paul Mason in a tie - the first this year... I see a new trend emerging!! Very interesting nationalisation arguement for Northern Rock by Vince Cable & Phil Hammond. :-)

  • 9.
  • At 09:43 AM on 15 Jan 2008,
  • stevie wrote:

Sir, An excellent Newsnight but flagged a little towards the end and the apologist for Hain was joke. and Jeremy went easy on him, it now resembles a blood sport flaying NuLabour people and Jeremy is not into blood sports...but we are!!

  • 10.
  • At 11:44 AM on 15 Jan 2008,
  • csharp wrote:

maybe MR 'no rules roads is paradise' can reshoot the piece in Rome or India?

Jonnie (4),

Sorry, but I'm with Neil (7) on this.
Vince Cable is incisive and would make a great Chancellor.

Namaste -ed

  • 12.
  • At 09:46 PM on 15 Jan 2008,
  • bigbellabongo wrote:

Jonathan Perry on Northern Rock - Ignorance? Have you seen Vince Cable's CV? Chief Economist at Shell International, Head of Economics Royal Institute of International Affairs, etc etc. I think he can figure out Northern Rock....

  • 13.
  • At 10:54 PM on 17 Jan 2008,
  • peter wrote:

Vince, Vince, Vince...

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