Andy Haldane said that if the Bank had been fully open about what was happening during the crisis it would have made the situation a lot worse PAThe Bank of England was “secretive” and “selective” about information it made public during the financial crisis in an attempt to avoid greater damage, one its most senior officials said. Andy Haldane, the Bank’s chief economist, said yesterday that “too much information can make a bad situation worse”. Speaking at an event entitled The Great Trust Shift, he conceded that the global crisis had been “hugely trust-busting” for the City. Asked to name the most untrustworthy thing he has done, Mr Haldane said: “It is not always and everywhere the case that greater openness and transparency is a good thing. “Had we been fully open and fully transparent about what was going on during the financial crisis, it…

Source: The Times October 06, 2017 15:56 UTC