The Treasury Select Committee is to re-interview Mervyn King, Alistair Darling and Callum McCarthy over the banking crisis which led to the near collapse of Northern Rock.
Reports suggest Michael Fallon, a senior Conservative on the Committee, says King will return to the committee on 18 December to clarify what happened in the events leading up to Northern Rock’s use of emergency funding from the Bank of England. Fallon says the Committee did not get the full details of what happened and said there were various discrepancies. The news follows a BBC interview with King, in which he said it was the decision of the Chancellor to lend money to an unnamed bank, rumoured to be Lloyds TSB, to take over the ailing lender. The Select Committee said King’s inter...
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