Bank of England Governor Mervyn King this week launched a scathing attack on Britain’s banking sector, calling for a break-up of behemoth financial institutions that have taken billions of public money to stay afloat. King says Britain’s Main Street banks should be separated from their risky investment arms to dissolve a culture in which some banks can fall back on the knowledge that they are “too important to fail” and thus can keep gambling with vast amounts of public cash.
