Labour not responsible for crash, says former Bank of England governor

The Guardian:

The former Bank of England governor Mervyn King has denied that the previous Labour government was responsible for the financial crash, saying there was a shared intellectual responsibility across the political parties and financial institutions for failing to foresee the problems.

Saying his view on the cause of the crisis had evolved, he said he doubted any single one country could have found their way through the crisis.

It shouldn’t have needed saying but it is good that he’s confirmed the obvious.