Mervyn King Was (Eventually) the Right Man for the Job

Mervyn King, who steps down today as governor of the Bank of England, took the top job in 2003 and stayed on after the crash for five years of grinding economic misery.

When Alan Greenspan ended his 18 years as chairman of the Federal Reserve in 2006, I thought he'd timed his exit brilliantly. I'd no idea what was coming, but the growth he'd presided over seemed unlikely to continue, and his successor would get the blame for the slowdown. Compare with Mervyn King, who steps down today as governor of the Bank of England -- he took the top job in 2003 and stayed on after the crash for five years of grinding economic misery.

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