Why King lacks allies

Robert Pringle Just when Mervyn King, the governor of the Bank of England, was hoping for a respite from the battering he has received from the Treasury Select Committee and others over his handling of the Northern Rock debacle, along comes a heavyweight in the shape of Richard Lambert to land yet another blow.

Whether it is a knock-out punch remains to be seen. But the Financial Times's examination of the withering criticism of its former editor (and former member of the Bank's Monetary Policy

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