There is a sense here in Birmingham that, as it was during the LibDem conference, the real news story is on Wall Street. Cameron is going to give a hastily arranged speech focusing on the financial market mayhem later this morning.

Still it is not all bad news,* Gordon’s favourite financier Paul Myners and appointee as chairman of the Low Pay Commission, is doing well. The massive hedge fund of which he is a director, GLG, had the biggest short in the market in Bradford and Bingley. Peter Oborne points out that Ronnie Cohen, “Gordon’s private banker” and a huge Labour Party donor, has just set up a new hedge fund to take advantage of the market situation. Good to see some people doing well out of the misery and mayhem…

*You won’t read this news in the Guardian. Paul Myners is the chairman of Guardian Media Group.