Bank bailouts deeply worrying threat to support for markets, says former BoE head King

Mon, 10 Feb 2014

By Pattrick Smellie Feb. 11 (BusinessDesk) – Public support for market economies has been placed at risk by governments bailing out the global banking system when other businesses have been persuaded to accept commercial failure, says former governor of the Bank of England Sir Mervyn King. Speaking to a packed auditorium at Victoria University last night, King said he worried there was “something deeply damaging” in the debate over economic policy that the banking system should be both the standard-bearer for market disciplines and the except...

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