MARCH 30, 1948 – BIRTH OF MERVYN KING, CURRENT GOVERNOR OF THE BANK OF ENGLAND

1948 – BIRTH OF MERVYN KING, CURRENT GOVERNOR OF THE BANK OF ENGLAND
“of all the many ways of organising banking, the worst is the one we have today.” Possible remedies included not just breaking up banks, but also “eliminating fractional reserve banking”—the centuries-old practice of banks taking in deposits and lending most of them out in riskier and longer-term loans.
http://www.economist.com/node/17363435