City watchdog put ban on bank short-selling

A City watchdog earlier this week took drastic measures of banning the short-selling of financial stocks a move unprecedented in modern times.

The temporary ban was agreed ay a meeting at 11 Downing Street between Alistair Darling, chancellor, Mervyn King, Bank of England governor, Sir Callum McCarthy, outgoing Financial Services Authority chairman, and his successor, Lord Turner. Read more