Mervyn King, the governor of the Bank of England, and Alistair Darling, the chancellor, struck different tones on banking regulation in twin speeches to City executives. Mr King said Britain’s central bank needed more power to discharge its regulatory responsibilities, as it could now do no more than “issue sermons or organise burials”.
Friday, June 19, 2009
UK : Reforming Bank Regulation : Turf Wars in Black Tie
Mervyn King, the governor of the Bank of England, and Alistair Darling, the chancellor, struck different tones on banking regulation in twin speeches to City executives. Mr King said Britain’s central bank needed more power to discharge its regulatory responsibilities, as it could now do no more than “issue sermons or organise burials”.
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