King Denies Fed Warning

In the understatement of the decade, Mervyn King (Governor of The Bank of England) has told the Treasury Committee that there needs to be change of culture at Barclays."Barclays has to create a new bank with a new culture to take it forward."He also denied that the Fed had warned the Bank of England that Libor was being manipulated: "If the Fed had regulatory concerns they would have shared