Dada in London work 555; Mervyn King Bank of England Credit Scrunch

Mervyn Credit Scrunch
c. Michael St.Mark 2011

Another topical progressive Scrunch ArtTM sequence by M.St.M. ( apologies for the Eddie George clanger)

With the British economy apparently about to fall off a cliff, here’s fatcat mega jobsworth Mervyn King, govenor of the Bank of England,  passing the buck waxing lyrical about how Euro rescue now lies (sic) in the hands of the politicians.
( Well, that makes us pretty much doomed then.)

” The regulators around the world have said, and they still maintain this today, and I think they’re right, that for the major banks in the world, they have the ability to cope with this crisis …. it isn’t a threat to the banking system as a whole.”

—Mervyn King interview in 2007 before the banking system demonstrated its total inability to cope less than a year later