Mervyn King: 'Without Reform, Another Crisis Is Certain'

During the spring of 2008, I often attended press conferences with Lord Mervyn King, who at the time was governor of the Bank of England. It was an exciting time. Northern Rock had just collapsed, but Lehman Brothers was alive and kicking. The global financial crisis was by many seen as an isolated housing and banking crisis. No one knew the magnitude of the turmoil that was waiting around the corner.