Bank of England governor Mervyn King sparked another firestorm at the weekend with his interview with the Daily Telegraph. Banks and bankers have been licking their wounds after his rather unflattering remarks.
Although it must be noted that very little in the interview was new, the governor’s use of much more colourful language for financial regulation than for monetary policy, suggests he knew and wanted his remarks on banking to make a splash.
For me, there were three interesting elements in the interview. There are a few other issues others reported heavily but are either simple misunderstandings of the governor or willful misreporting of his words. Read more