Four years on, Mervyn King has finally admitted to some of his culpability for the banking crisis. At the same time, he rpoints to the Treasury, FSA and Bank of England “Tripartite” for its combined responsibility. He is right about that. Incredibly, during the ten years leading up to the crisis, i.e. as it was slowly developing, the Tripartite met only once. King notes the mea culpa from the FSA, again only partial, but also notes the absence of penitence from Gordon Brown and Ed Balls.