Wild Parties and the Bank of England
Jul 31, 2010
Mervyn King, governor of the Bank of England, is noted for its generally restrained and diplomatic language into statements about interest rates and the overall performance of the UK economy. However, it appears that reserve and reticence to change. During the Northern Rock banking crisis in summer 2007, he to his reluctance to intervene and save the bank by the reference to “moral hazard” justified. By this he meant that banks, like any other private organization should be subject