King Defends BOE Libor Role After Scrutiny on Geithner Memo

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King Defends BOE Libor Role After Scrutiny on Geithner Memo

Bloomberg – Bank of England Governor Mervyn King defended his handling of the Libor affair, saying that he only knew of wrongdoing two weeks ago and that a memo from Timothy F. Geithner in 2008 didn’t highlight malpractice. King told Parliament’s Treasury Committee today in London that the e-mail sent by the then president of the Federal Reserve Bank of New York included recommendations rather than allegations at a time when global regulators were expressing concern on the quality of the borrowing benchmark. Read article

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