Monday, November 3, 2008
the scheme was credited with preventing a catastrophic collapse of the banking system
Nov 3 2008 The heads of the financial authorities are being grilled by MPs over their handling of the banking crisis. Chancellor Alistair Darling, Bank of England Governor Mervyn King and the Financial Services Authority chairman Lord Turner of Ecchinswell are giving evidence to the Commons treasury committee. The session, in a committee room in Portcullis House, opposite the Houses of Parliament, will mark the first stage of the committee's inquiry into the dramatic events of recent weeks.