ACCORDING to the information in the public domain, it appears Cherie Blair did nothing improper during the purchase of two flats in Bristol.
The involvement of a convicted fraudster in the transaction was unwise, or unwitting. But it was not illegal.
The controversy highlights the proximity between private matters and public interest the wife of the Prime Minister often has to face.
By and large, the Blairs have been able to make a distinction between their private and public lives. And for most of the time the media has respected their privacy.
On this occasion, however, the couple have suffered because of errors of judgement.
There is insufficient substance in this property deal in itself to warrant the longevity this particular story has enjoyed.
What has kept it in the media spotlight are not the facts of the flats purchase, but the manner in which Mrs Blair and the Prime Minister's office have handled the story.
Had Mrs Blair given a concise and satisfactory account of proceedings in the first place the story would have dissipated by now.
Her plight demonstrates the inherent dangers of being more concerned with presentation and appearance than with frankness and openness.
There are lessons to be learned from Mrs Blair's media ordeal by all those at the heart or on the periphery of political life in this country.
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