Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
Andrew Feinberg
White House Correspondent
Some of Britain's top banks are warning they will move abroad unless a less “hostile” successor to Sir Mervyn King, the Governor of the Bank of England, is appointed when his term ends next year, it was reported.
Sir Mervyn told The Times that Britain's banks are in denial about public anger over their behaviour.
And he hit out at them for insisting everyone needed to live with “market disciplines” until the financial crisis hit when they asked for bail outs.
“Market discipline can't apply to everyone except banks,” he told the newspaper, adding people's anger was “very real and wholly understandable”.
Of the banks' attacks on him for failing to provide more support during the crisis, he said: “I think it is because they found it very, very difficult to face up to their failure of their banking model.”
He added: “That model needs to be restructured. My duty was to the United Kingdom economy as a whole and not just to one part of it.”
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments