Bloomberg News

BOE’s King Says Public Has ‘Every Right to Be Angry’ With Banks

June 02, 2013

Bank of England Governor Mervyn King said the British public have “every right to be angry” with banks for the financial crisis.

“In many ways, when the crisis hit in 2007-08 I was surprised that people weren’t angry sooner,” King said in an interview for BBC Radio 4’s “Desert Island Discs” program, broadcast today. “You can see it coming through now as the impact on standards of living becomes more obvious and they have every right to be angry.”

He said the crisis was not caused by a few individuals but by “a crisis of the system of banking we had allowed to grow up.”

“It’s very important we don’t demonise the individuals but we do keep cracking on with changing the system,” he said.

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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