Ake was talking about the interview with Siobhain McDonagh, who had just been sacked for calling for a Labour leadership contest. I haven't a clue what folk1e was listening to. There was certainly no put-down. Asked whether she had been sacked, she said she had not been told, but that Sky News were reporting that she had been. The interviewer, "left spluttering" according to folk1e, still had the presence of mind to say: "Well they are usually right, aren't they?" and she agreed.

The woman was completely out of her depth. She has badly misjudged the mood of the party (although it was her job in government to have her finger on the pulse in such matters) and for me her discomfit was a pleasure to behold. This is the woman who, along with her sister Margaret, the Labour Party's admin supremo in Blair's glory years, ran the Labour Party - especially in and around London - as some kind of family fiefdom.

There will be no leadership challenge, and no general election until it is a constitutional necessity. The only potential challenger who could give Labour the renewed impetus it desperately needs is John Cruddas, but fortunately there is no prospect of him taking over. Better that Labour is beaten into the ground, regroups and comes back as the party it was always supposed to be. By which time a "correction" to the UK's divisive economics will be long overdue. Today's events on the world's stock exchanges show the consequences of removing all trace of social responsibility from the west's supposedly mixed economies.