King Warns Banks: No Bailout On Way ; and Signals Interest-Rate Peak
Evening Standard - London › September 12, 2007
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Summary
BANK of England Governor Mervyn King today blamed "risky and reckless" behaviour for the current financial turmoil and insisted there will be no generous bailout from Threadneedle Street.
In an unprecedented move, King sanctioned the early release of evidence he will give to the Treasury Select Committee next week to explain why the Bank has offered limited support to the City during the current crisis.See the full content of this document
Extract
King Warns Banks: No Bailout On Way ; and Signals Interest-Rate Peak
King said the source of the problems in the credit markets "lies not in the state of the world economy, but...
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