Sir Mervyn King: stop 'demonising' bankers

Sir Mervyn, who presented his last quarterly forecasts last week, said "what bankers did is not the only explanation of the crisis that we had". In a valedictory interview he said: "Don't demonise individuals here. This wasn't a problem of individuals, this was a problem of failure of a system. "We collectively allowed the banking system to become too big, we gave them far too much status and standing in society and we didn't regulate it adequately by ensuring it had enough capital," according to the Sunday Telegraph. The governor told Sky News the reforms being made to the way the...