Alex did offer his support to Fred for the aquisitions which caused a rather a few problems. Let's not go into that, since enough people are debating the issue at present.
The BBC went overboard, with the implication that Alex was riding on Fred's shoulder at the time. One could swear that Alex was really responsible for the subsequent mess, with his talk about light-touch regulation. Hidden questions about the judgement of the First Minister - funnily enough, no one else thought it was a bad move at the time.
The Sun joined in, but at the other extreme. Judging by their version of the story, Alex is a financial god who will restore order to the turbulent system. They never mentioned the comment Alex made that "in hindsight" he should have done things differently.
The truth lies in the middle, but since it is "boring", neither side wants to report it.
For the next thirty months we will have spin, spin and more spin, with a side order of spin.