The Northern Rock conundrum
Updated on 18 February 2008
Inside the morning meeting...
"Not many stories around today but the one's that are around are very, very good," says the programme editor alluding to the nationalisation of Northern Rock, elections in Pakistan and the appearance of Mohammed al-Fayed at the Diana inquest - among others.
Northern Rock leads the way on domestic impact alone.
Yesterday's announcement by the chancellor Alistair Darling that the troubled bank would be taken into state ownership will be followed today by reaction and counter reaction.
'The conundrum is this,' says a senior editor. 'To get tax payers their money back, the bank has to be run as a profitable business - and that will be at the expense of other banks.'
Indeed Darling has already started the broadcast counter-offensive, arguing with John Humphrys on the Radio 4's Today programme over his apparent volte face on the merits of nationalisation.
Later this morning prime minister Gordon Brown conducts his monthly press conference - a double act with Darling as it turns out.
This will be followed at 1.00pm by another 'presser' - this time from newly appointed Northern Rock chief executive, Ron Sandler. Then it's opposition leader David Cameron at 2pm and an expected statement to the House by the chancellor at 3.30pm.
The political story today? "There's a small window of opportunity to try and frame how the public look at this," was one verdict. The perception thing, in other words.
The economic story? "The conundrum is this," says a senior editor. "To get tax payers their money back, the bank has to be run as a profitable business - and that will be at the expense of other banks."
Many miles from Northern Rock's Newcastle HQ, it's voting day in Pakistan. "We're expecting the first results to come in while we're on air," says the prog ed.
We've got two teams out in Pakistan to cover the story.
Diplomatic correspondent Jonathan Rugman will be filing from the countryside outside Lahore. He's been on the campaign trail, a campaign mire in suggestions of corruption.
Meanwhile, More4 News's Kylie Morris - a former Asia correspondent - has been in the north west provinces of the country where turnout has been as low as 2 per cent.
She'll report on the 'Taliban effect' where women-only polling stations are, so far, without voters.
Use our seven day guide to catch the shows you missed
