BOE’s King Says No ‘Public Interest’ to Give MF Global a Bailout
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Bank of England Governor Mervyn King said MF Global Holdings Ltd. posed too small a risk to financial stability to merit a bailout.
The failure of the firm “was an example of a company where quite frankly there was no public interest in saving it,” King told lawmakers at a U.K. Parliament committee in London today. “That’s what we didn’t have when Northern Rock failed.”