Mr Peters is about to take the witness stand and National has to be very careful how it treats him. Mr Peters v The Rest is his favourite position.
No, it's not about the privileges committee hearing that begins tonight into a $100,000 donation to Peters by billionaire Owen Glenn.
It's what I wrote in June 1996 on the eve of Peters' appearance at the Winebox inquiry in Auckland.
Peters and hearings go together all too easily and I've witnessed many of them.
To any other politician such hearings would be a traumatic event. To Peters they present a platform, an opportunity to attack, though it doesn't always work out the way he plans it.
It will be interesting to see how the Privileges Committee hearing pans out. There's not doubt that Peters has a sense of theatre, and loves to play the role of the underdog. However this time, his protestations that NZ First is the only honest party in Parliament have a hollow ring to them. For there are not only questions over the Glenn donation (and in particular just who Glenn thought he was donating to, and for what purpose; much the same as for Sir Bob Jones), but there are the Jones donations, and allegations of financial dealings between Peters and the Vela and Suminovich families.
It is Keeping Stock's fervent hope that the Privileges Committee will decide tonight that it needs to hear, at the very least, from Owen Glenn. Peters may wish to play the victim card; however there are too many unanswered questions surrounding NZ First's financing. Hopefully the Privileges Committee will manage to extract some answers from the NZ First leader.