Rangers' bank man says he saved Northern Rock

NEW Ibrox financial expert Donald Muir has boasted that HE was the whizz who told Gordon Brown how to save Northern Rock.

The Prime Minister famously insisted, in an embarrassing House of Commons gaffe, that his masterplan to shore up the skint financiers with our cash had "saved the WORLD".

But Muir - drafted in by bank chiefs last month to recoup debts of up to £30million from Rangers - has claimed the credit for kick-starting the Government into action.

The troubleshooter says he played the key role in persuading the PM (below) to take over ailing Northern Rock using £26.9billion of taxpayers' dosh.

In the wake of last year's buy-out, he revealed: "Gordon Brown didn't run blind into the situation - there was lots of analysis.

"If he had nationalised it and the bank hadn't been able to operate as a going concern, it would have been a complete DISASTER for him.

"I produced the turnaround plan that gave the Government the confidence to commit to Northern Rock by coming up with a proposal for a substantial amount of savings to show that it was a viable business."

But in words that will send a shiver down the spines of Rangers fans worried their club is being lined up for savage cutbacks, Muir warned of his no-nonsense business style.

The specialist in sorting out troubled firms said: "There are always casualties. I liken my job to walking into a train crash. I have five minutes to assess who's still alive and can help me work on the others, to revive and motivate them, and then take the company forward."

Muir (right) insisted that wherever he goes, he pulls the strings - casting doubt on Rangers' claim that the bank is NOT running the club's affairs.

He said: "When I'm brought in, it's important to give my client something lasting and sustainable, and I take pride in that.

"But I don't ever do it alone. I'm the conductor of the orchestra. I provided direction but it was the staff of Northern Rock who effected the change."

Dad-of-two Muir, 50, is moving back to his native Scotland to concentrate on his crucial role at Rangers.

He recently split from wife Dawn. Their plush home in Orpington, Kent, is now on the market for £795,000.

Muir has a track record of helping seemingly DOOMED businesses survive.

Apart from Northern Rock, he's also been hired by two health trusts in the south of England and the Department for Work and Pensions.

The chartered accountant's expertise lies in poring over the books and cutting costs - a factor behind the decision of Lloyds Banking Group, owners of Bank of Scotland, to seek Muir out.

His CV to date is impressive.

At telecommunications firm Telspec, he was chief executive and steered the company out of financial ruin within a year.

He said at the time: "Telspec was a rising star that had crashed and burned into intensive care with a £10m loss.

"This was turned into a £4m profit in only a year." Muir's next move was to Global Crossing, a telecommunications network operator, and then Cable & Wireless Global.

We revealed in March that Bank of Scotland had set up a team of "asset hounds" to target Rangers' debts.

Ibrox chiefs insisted our story was untrue. But when team manager Walter Smith was asked last weekend if the bank was running Rangers, he replied: "Is that not obvious to everyone?"

Now EVERY player is up for sale, and Smith's contract - which expires in January - may not be renewed.

Muir joined the Rangers board two weeks ago as a non-executive director. His official role is to advise new chairman Alastair Johnston, who took over from Sir David Murray in August.

But insiders have claimed it is Muir who is calling the shots in demanding SAVAGE budget cuts.

The troubleshooter has been made a director of a second Murray subsidiary, Premier Property Group, which has debts of £621million.

And he's also been hired by Glasgow restaurateur Satty Singh, a director of Rangers Youth Development Fund, who has put Muir on the board of SMSN Ltd, which lost £474,000 last year.

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