King: public 'right to be angry' with banks

clock

Outgoing Bank of England governor Sir Mervyn King has said people have "every right to be angry" with banks over the financial crisis.

In one of his final interview's in post, he told BBC Radio4's Desert Island Discs he understood the public frustration as slow growth affected living standards but said there were signs economic recovery is under way. However, he also cautioned against blaming individuals, the BBC reports. "In many ways, when the crisis hit in 2007-08 I was surprised that people weren't angry sooner," King said, speaking to Kirsty Young for the programme. "You can see it coming through now as the impact on standards of living becomes more obvious and they have every right to be angry. "But thi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read