Doug Henderson, who is a big knob adviser to burger giant MacDonalds, and in his spare time is Labour MP for Newcastle North, said in the Journal on 18th February that, “Nationalisation has sorted out [Northern Rock]. It is now on a road where it has got some future stability.”
Comments from the occasional invisible man of Tyneside politics are not always particularly interesting. This one was. The reason why? Because he set himself up as the arch critic of nationalisation of Northern Rock when it was first proposed by the Liberal Democrats.
On 12th December 2007, Big MacHenderson told the Commons that the nationalisation of Northern Rock “would be a disastrous policy to adopt”! There would be doom and gloom and the end of civilisation and all life as we know it in the North East (okay so I slightly exaggerate) were the bank to be taken into public ownership.
This MP is, it would appear, about as useful to the world of economic prediction as double cheeseburgers are to calorie controlled diets.