Author Topic: straight from the horses mouth II  (Read 1302 times)

Offline Ellipses

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straight from the horses mouth II
« on: February 28, 2016, 05:24:38 AM »
Another financial crisis is "certain" and will come "sooner rather than later", the former Bank of England governor has warned.

Mervyn King, who headed the bank between 2003 and 2013, believes the world economy will soon face another crash as regulators have failed to reform banking.

He has also claimed that the 2008 crisis was due to inherent fault in the financial system and not individual greedy bankers.

"Without reform of the financial system, another crisis is certain, and the failure ... to tackle the disequilibrium in the world economy makes it likely that it will come sooner rather than later," Lord King wrote.

A remark from a Chinese colleague who said the West had not got the hang of money and banking was the inspiration for his book.

Now that the individual bankers are no longer 'greedy' there is no need to worry about all the debt, derivatives and de-flation lurking out there then, I guess