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Mervyn King Biography

Banking executive

Mervyn King is a prominent banking executive recognized for his substantial contributions to the financial industry. Born on March 30, 1948, he has held various leadership roles in the banking sector.

Way Today Worst Banking

Author:Mervyn King

“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

People Reason Form Used Pay Economy Products Direct Accounts Producers Consumers No Reason Massive Units Adequate Payment Transactions Computing Central Banks

Author:Mervyn King

“When banks extend loans to their customers, they create money by crediting their customers’ accounts.”

Accounts Customers Loan

Author:Mervyn King

“To set aside one’s prejudices, one’s present needs, and one’s own self interest in making a decision as a director for a company is an intellectual exercise that takes constant practice. In short, intellectual honesty is a journey and not a destination.”

Needs Self Interest Decision Company Practice Journey Honesty Exercise Directors Intellectual Prejudice Constant Destination Self Interest Intellectual Honesty

Author:Mervyn King

“Global market forces will sort out those companies that do not have sound corporate governance.”

Force Sound Company Corporate Governance

Author:Mervyn King

“The underlying intellectual argument for seeking to tax economic rents retains its force.”

Force Economic Taxes Intellectual Argument Seeking

Author:Mervyn King

“Banks have come to realize in the recent crisis that they are paying the price for having designed compensation packages which provide incentives that are not, in the long run, in the interests of the banks themselves, and I would like to think that would change.”

Thinking Long Running Interest Realizing Risk Management Crisis Long Runs Incentives Packages Compensation Risk Management

Author:Mervyn King

“When I was a graduate student at Harvard, I learned about showers and central heating. Ten years later, I learned about breakfast meetings. These are America's three great contributions to civilization.”

Years America Three Learning Students Civilization Ten Meetings Contribution Breakfast Graduates Showers Harvard Graduate Students Heating

Author:Mervyn King

About the Author

Born: March 30, 1948
Known for: Banking executive
Quotes: 8

Books & Sources

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Mervyn King Biography

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