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1) Wild Parties and the Bank of England
Author:
Leslie Hardy
Category:
News and Society
Mervyn King, Governor of the Bank of England, is normally noted for his restrained and diplomatic language in statements concerning interest rates and the general performance of the UK economy.However, this reserve and restraint appears to be changing. During the Northern Rock banking crisis in the summer of 2007, he justified his reluctance to intervene and save the bank by reference to 'moral hazard'. By this he meant that banks, like every other private sector organisation, should...
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