The Bank of England has remained quiet on its failings during the financial crisis – is King looking to confess his sins to a national radio audience?
Bank of England governor Sir Mervyn King will bravely follow where Barclays chief executive Bob Diamond led, in delivering the second business lecture for BBC Radio 4's Today programme.
Rather than the usual Today show grilling – an endurance certainly but mercifully short – King will deliver a speech on 2 May that will be pored over for weeks to come by journalists looking to trip him up. Remember, Diamond banging the drum for banks being good citizens, only for Barclays to be found avoiding tax months later? Then come the questions both from the audience and an interview the following day, undoubtedly more of a test than the generally tame Treasury select committee.
There will be plenty to talk about. King was in charge throughout the financial crisis and has survived a series of calls for his head. He was blamed for being too slow to rescue Northern Rock, focusing on the economy rather than stability, and letting the pound drop while inflation flies.
For his part, King has returned fire on just about everyone, blaming then-chancellor Alistair Darling, the banks, and even China for the global imbalances that triggered the crash.
This week the Treasury confessed its mistakes during the crisis, but the Bank has remained quiet. Maybe King is waiting for his chance to confess his sins in front of a national radio audience. More likely he'll be looking to pass the buck.