Northern Rock crisis worsened by regulation - King

Earlier today, King was grilled by the Treasury Select Committee over his handing of and emergency loan given to Northern Rock and the resulting fallout, which has seen large numbers of people withdraw money from savings accounts. King says he attempted to maintain a balance between protecting consumers and ensuring the banking industry does not think it can be bailed out when things go wrong but admits he may have got it wrong. King says he would have preferred to make the loan in secret to prevent consumer panic, which has exacerbated Northern Rock’s situation, but is prevented from doi...