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Article from: The Journal (Newcastle, England)
Article date: November 04, 2008
Byline: Paul Russell
THE UK's three most senior financial figures yesterday defended their handling of the worst crisis to hit the banking system in almost a century.
Chancellor Alistair Darling, Bank of England Governor Mervyn King and Lord Turner, the chairman of the Financial Services Authority, faced questions from the Treasury Select Committee - picked from around 5,000 submissions from the public - for the first time.
Mr King said the pounds 400bn bail-out of the banking system - including pounds 37bn in new capital for three ailing institutions - was "exactly ...
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