Sir Merv: Public are right to be angry at banks

[AtW]

"People have "every right to be angry" with banks for the UK's financial crisis, the outgoing Bank of England (BoE) governor Sir Mervyn King says.

In one of his last interviews before stepping down, for BBC Radio 4's Desert Island Discs, he expressed sympathy with public frustration as slow growth takes its toll on living standards.

But the governor also cautioned that blaming individuals was a distraction.

Sir Mervyn said there were signs economic recovery was under way.

Canadian Mark Carney is to become the first foreign BoE governor when he takes over in July.

"In many ways, when the crisis hit in 2007-08 I was surprised that people weren't angry sooner," Sir Mervyn 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."

Source: BBC News - Sir Mervyn King: Public are right to be angry at banks

And this guy wasn't running Bank of England in the same time frame?

And after that he kept rates at near zero giving banks the highest ever profit margins at the expense of savers (pensioners)?!?!

[amcdonald]

Not all pensioners are suffering, his pension fund seems to have done well

[AtW]

Not all pensioners are suffering, his pension fund seems to have done well

This pension pot is over £5 mln -

"The Bank of England topped up Governor Mervyn King's pension pot by £1.4m after deciding to award him an early payout in 2008. "

Bank of England boosts Mervyn King's pension by £1.4m - Telegraph