Few in the media (and in Parliament) appear to understand the implications of the relationship between Granite and Northern Rock for the nationalisation of the latter. See here, here and here. It is certainly well above my pay grade.
But I presume that the position was fully explained in the advice prepared for the government by the clever clogs and vastly expensive Goldman Sachs. That being so, I am bound to wonder why the government have left it so late to explain themselves. Or did they hope to get away with the nationalisation legislation without anyone noticing the link to Granite?
As so often, they now seem to have made a rod for their own backs.