I am almost lost for words - how on earth did the BBC manage to go £100 million over budget on the building works on Broadcasting House?
The Audit Commission has said there was "poor governance" - is this "Quangospeak" for staggering incompetence?
I have just heard Jeremy Peat (apparently a BBC trustee) on Radio 5 Live giving a mealy mouthed apology and offering up some feeble reasons why the BBC has p*s**d so much of our money up the wall.
What Mr Peat didn't say was how many heads have rolled for their incompetence and wasting our money - I'd like to bet the number is less than 1.
The way in which the BBC is funded has to be re-examined, the way in which the BBC is managed needs changing and above all else the organisational culture of the BBC has to be changed.
As long as the BBC has a guaranteed and ever increasing income from the television tax (licence) we all have to pay, fiascos like this will continue.
Until such time as the BBC is forced to "live within its means" then all of us will continue to have to subsidence the bloated, over staffed, bureaucratic monster that it has become.
Here's a policy idea for Cameron & Osborne - cut the TV tax to £100 per year and force the BBC to operate on a more commercial basis.
Good for votes, good for family budgets and good for forcing BBC "efficiencies".
Even better, make the BBC operate on a subscription basis - like its commercial competitors, then at least we have a choice of paying towards the BBC if we decided to watch their output.