Mervyn King speaks at the TUC Conference

Mr. King, the first Bank of England governor not privately educated, addressed the TUC to apologize for the financial sector's role in the economic crisis. Despite his conciliatory tone, reactions were mixed, with some delegates skeptical of his message on deficit reduction. The speech sparked debate on how to address the deficit, with opinions divided on the role of taxes and spending cuts. The event highlighted ongoing tensions between the financial sector and union members, with some viewing the situation as unresolved and contentious.

What was the sentiment expressed by some delegates about the bankers' role in the economic problems?

What did Mr. King imply about the necessity of cutting the deficit?