Is the Bank of England governor Mervyn King defending UK financial markets? Obviously, he would not like to be lectured by overpaid bankers over the need to hose
the markets with cheap cash. However, this might be necessary to get things going
again. I assume the governor is very aware of the dangers of importing inflation
with the depreciation of sterling. This should help exporters but this has never
been the priority of the Bank of England.
www.searchifa.co.uk
Mr King must be as mystified as the rest of us that the banks have not cut dividends
and raised capital. This would be allied with management changes. How many
Barclays SIVs can go bust before the management does the decent thing.
www.searchifa.co.uk
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