BoE could have done more to avert crisis, says King

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 that a system had been built in which banks were too important to fail, that banks had grown too quickly and borrowed too much, and that so-called 'light-touch' regulation hadn't prevented any of this," he said during a speech at the Today Programme Lecture in London. King said that three reforms of the system topped his list: regulation, resolution and restructure. He said that more mon...