King admits BoE should have done more to prevent banking crisis

Former Bank of England governor Mervyn King

Governor of the Bank of England (BoE) Mervyn King believes the British central bank should have done more to prevent the banking crisis in the UK despite the Bank of England being largely powerless to prevent the events from unfurling. King said despite the central bank being restricted to "preaching sermons" about risk prior to the crisis it "should have tried harder" to raise concerns about capital levels in the banking system.

King made the comments during the broadcasting of a lecture on May

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