Do u agree with Mr. King - Governor of the Bank of England?

Question

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3842764.ece

Its refreshing to actually hear somebody come and say what a lot of people have been thinking. Could have acted earlier though.

Answer 1

...And the Thatcher government blamed the mess they inherited from the Labour Govt.  

It was G. Brown who split financial control between the B of E, the FSA and the Treasury, so clipping the wings

Is Mr. King being told what to say??

The FSA didn't do their job very well, witness Northern Rock.

Brown sold some of our gold at rock bottom price, robbed pension funds and increased indirect taxation.

He also seems keen to give our cash to countries that have their own rich entrepreneurs or corrupt heads of state.

Answer 2

This credit crisis to me is the result of debt no longer being seen as taboo, people living beyond their means and the banks negligent lending to people who obviously can't afford to pay debt back..

Answer 3

pah.  if it wasnt for the combined incompetence of the bank of england / the FSA / the government we wouldnt be in this mess in the first place

they were the ones who didnt have a clue what was going on in the money markets

which is c**p cos their job IS to know whats going on

this is what happens when govts (cough cough tories) deregulate the banking sector making it easy for banks to exploit - and s***w up

Answer 4

yes

Answer 5

yes i agree

Answer 6

Yes, absolutely.  It's a relief to see someone who is entirely in command of his brief.