Governor Admits Bailout Was 'Unfair' ; Unions Have a Right to Be Angry - King

Summary

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BANK of England governor Mervyn King has described the huge banking bailout as "unfair" and appeared to sympathise with calls for multibillion-pound tax evasion to be tackled. Mr King told union leaders that he understood the strength of feeling over the size of bankers' bonuses and said "radical reform" of the financial system was needed.

The 62-year-old faced minor protests at the TUC Congress in Manchester from some banner-waving delegates and a walkout by the Rail Maritime and Transport union delegation.

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Extract

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Governor Admits Bailout Was 'Unfair' ; Unions Have a Right to Be Angry - King

He was also told bluntly that bankers were "greedy" and that he had failed in his job. As he waited to...

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