BoE surpervision: Central planning

Is the UK government beginning to repent of its erstwhile enthusiasm for an independent Bank of England? What else to make of its latest proposal to impose a panel of City experts to advise the governor on financial stability? This must rank as one of the sillier ideas to come out of a Treasury in a long time. Former governors - famously able to instil mortal fear into hard-nosed bankers simply by twitching their eyebrows - will no doubt be turning in their graves to think that their successor,...