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  • BUSINESS: Mervyn King defends action on Northern Rock crisis

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BUSINESS: Mervyn King defends action on Northern Rock crisis

The Govenor of the Bank of England, Mervyn King, has defended his response to the market disturbance and credit crisis after the run on the Northern Rock building society. Mr King told the Treasury Select Committee 'I give you my personal assurance I would never do anything unless I thought it was the right thing to do' and refuted accusations that he had been lent on by the Treasury to change policy and inject more credit into the banking system. He told MPs that it would have been irresponsible for the Bank to have intervened earlier.

ITN Source | September 20, 2007Watch more videos from ITN Source

Tags:. .market. .change. .action. .personal. .system











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