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BOE's Mervyn King 'Surprised Anger Directed At Bankers Is Not Greater'
Tyler Durden
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The Governor also warned that living standards may be permanently lower than where they would have been under the economy's trend growth rate before the crisis. "The evidence of the past is that the impact of a [financial] crisis like that persists for many years," he said.
"You may not get it back for very many years if ever. It's a very real hit on living standards. That's why it is important to take the issue of financial stability very seriously."
Making a personal commitment, he said he hoped to ensure the banks would never again be allowed to cause a recession of the scale just witnessed. "I joined the Bank of England 20 years ago today," he said. "I don't want to leave until we have a framework in place to ensure we don't have to go through this again."
And the full clip confirming that what started with an isolated mutiny within the Fed's presidents with Hoenig, has slowly metastasized into a worldwide revolt against a criminal banker oligarchy.
www.zerohedge.com/article/boes-mervyn-king-surprised-anger-directed-bankers-not-greater
March 1, 2011