Bank of England: Adair's courageous speech

Lord Turrner was spot on and in line with the pessimism that has been coming from the Bank of England, the Treasury and government ministers When Sir Humphrey Appleby wanted to scare Jim Hacker off a course of action, television's favourite mandarin would commend it as "very courageous, minister". Had the chair of the Financial Services Authority, Adair Turner, run his speech this week by a real-life Sir Humphrey, he would doubtless have been greeted by that familiar sight: raised eyebrow, lips ...