Alex Massie checks in on the Lib Dems:
Unfortunately it seems as though a good number of Lib Dem voters have decided that, all things considered chaps, they'd rather not be in government. That way they'd be able to nurture their delusions, pruning and feeding and watering them free from the awkward realities and inconveniences of government. That's their right but they shouldn't be so shocked that the party leadership doesn't share this analysis.
Which means that I agree with a good deal of Fraser's analysis. I'd add, or repeat in fact, that 15% of the vote for a properly Liberal party would not be a bad or depressing destination for Clegg. It is, again, about the maximum the German Free Democrats ever win and that, surely, is the model Clegg must hope to emulate.