Bradford & Bingley go the way of the Rock

Just hold from getting that mortgage out with Bradford & Bingley, it's Saturday 28th September and Alistair Darling is going to nationalise the bank. He got up from his sunken sofa after watching an appalling display of dancing on "Strictly", texted an aide who in turned texted the Beeb and now they've got an exclusive and 1m homeowners with B&B mortgages are feeling just a tad more jittery. Well, it probably didn't happen like that but I bet he watches "Strictly".

It is ironic that only today I was exploring the different interest rates that the banks were offering to savers in today's Guardian and B&B's Internet Saver (Issue 3) with a rate of 6.51% was top of the list. It probably still will be when the government buys £50 billion of mortgage debt from the beleaguered bank. Government involvement tends to have a "copper-bottoming" effect, if only in the short term.

The news is even more shocking than Arsenal losing by 2-1 against Hull at home.