Bank of England
Bank of England governor King in the firing line over slow response to credit squeeze
Submitted by MichaelVail on Tue, 09/18/2007 - 10:48pm.
The future of Mervyn King as Governor of the Bank of England was being openly questioned last night after the bungled handling of the Northern Rock crisis.
Pressure grew as the Bank was forced to pump £4.4 billion into the financial system to head off a meltdown.
The decision amounted to a major U-turn for the Bank and Mr King, who had previously been reluctant to put more money into the market.
Northern Rock Bank Run: Bank Tries To Reassure Frantic Customers
Submitted by MichaelVail on Mon, 09/17/2007 - 12:50am.
HARD TIMES: On Friday the Bank of England agreed an emergency lending facility for Northern Rock, which it said was facing difficulties raising to cash to cover its liabilities
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