... the Treasury select committee was tougher on Sir John, the deputy governor responsible for financial stability and a member of the board of the Financial Services Authority, the City watchdog responsible for supervising Northern Rock. John McFall, who chairs the select committee, accused Sir John of being "asleep in the back shop while there was a mugging out front", adding that he had failed to spot the problems likely to befall Northern Rock because of the seizing-up of credit markets in early August. "Frankly, I do not think you are doing your job," Mr McFall said.
Sir John Gieve? Now where have I heard that name before? Wikipedia reminds me of an article in The Indie in April 2006:
"Sir John Gieve, deputy governor of the Bank of England, is being pressed to resign following revelations of financial mismanagement at the Home Office, where he was permanent secretary.
The top civil servant, who moved from the Home Office to the Bank in January, is already under pressure as a result of the lost prisoner scandal, where it emerged that more than 1,000 foreign nationals had been released from British prisons without being considered for deportation.
Now a National Audit Office review of the Home Office's accounts for 2004-05 has revealed errors so wild that they beggared belief."
Then there was that business with Mr Blunkett's lover's nanny:
Sir John Gieve was Home Office permanent secretary during the saga which ended with Mr Blunkett quitting.
He and other civil servants were criticised for failing to recall how the visa for Mr Blunkett's ex-lover's nanny came to be fast-tracked.
An eventful career, you might say.
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