BoE could have done more to avert crisis, says King

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The Bank of England (BoE) should have "shouted from the rooftops" about flaws in the system which could have prevented the banking crisis, governor Sir Mervyn King has said.

King also said light-touch regulation had failed to avert the crisis as he renewed calls for reform of the banking industry. "With the benefit of hindsight, we should have shouted from the rooftops...

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