Mr King will now chair the interest rate setting Monetary Policy Committee (MPC), the new Prudential Regulation Authority (PRA) to monitor individual banks, and the new Financial Policy Committee (FPC).

BBC: Treasury Committee

But he said it would be better if senior judges, "who have a great deal of experience in analysing evidence" - rather than politicians - should monitor individual detention periods, which should be subject to appeal.

BBC: NEWS | UK | UK Politics | Liberty chief attacks top Lib Dem

"I can't monitor individual conversations, " says he.

FORBES: Magazine Article