Former BoE Member Claims Governor King Made Misjudgements

Economist and former member of the Bank of England’s (BoE) Monetary Policy Committee, Adam Posen said while outgoing governor of the BoE Mervyn King will be remembered as being a great public servant, he made a series of misjudgements which he has to take account for.
Posen, who is also president the Peterson Institute for International Economics said King’s record, including his decision to nationalize one of the U.K.’s biggest mortgage lenders, Northern Rock was “not great”.

“On the financial regulatory side, he has got a series of misjudgements, I don’t think they were criminal by any means, but be it Northern Rock or the decision to kick supervision out of the bank of England and now start to take it back in – it’s not a great record,” he told CNBC.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza