BUT for taxpayers' help, two [...]

March 2013
Daily Mail;3/30/2013, p47
BUT for taxpayers' help, two banks would have failed in 2008 because they were running out of money. The Governor of the Bank of England, Sir Mervyn King, points to the white-knuckle ride banks on the Continent are having, identifies the risk of contagion, and warns our banks to find another £25 billion of capital to avoid another crisis. He has been attacked for this, because it will restrict the amount of money banks have to lend. But have we learned nothing from the events of five years ago? Sir Mervyn is right — our banks must salt more away, for their sake, and for ours, too.


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