Sir Mervyn is the king of a broken Bank of England The Governor claims most of the excessive lending was done within the financial system, which ignores the enormous expansion of cheap personal sector credit driving the illusion of wealth. Sir Mervyn on Wedensday night even described economic growth as "steady" in this period. In fact, it was quite the opposite. As we imported disinflation from the Far East we also received China's surplus cash, which contributed to the instability, but so did Western central banks such as Sir Mervyn's. Aviva's policy should be to put shareholders before management Aviva's annual meeting on Thursday will be colourful affair. Another blue-chip company subjected to trial by heckling. The headlines could be grim. But boardrooms need to take note of what shareholders are saying. "Enough!" is the cry. A chief executive might meet pre-agreed targets on pay and performance but if what counts to shareholders is down - share price, dividends or earnings - then all bets are off. Discretion, pragmatism and common sense must prevail. That could start with Aviva's new chairman, John McFarlane, and his FTSE 100 counterparts adopting binding shareholder votes on pay from the next round of annual meetings rather than wait until Vince Cable's date of 2014. It's time boardrooms got ahead of the game and became less accommodating to management and more friendly to shareholders. Jeremy Darroch is BSkyB's forgotten man BSkyB reminded us that despite all the Murdoch-related noise, it remains the country's pre-eminent television company. But Wednesday's results prove Sky is more than just a pay-TV company. They also prove Sky is more than just a Murdoch company. Jeremy Darroch has shown the business succeeds despite News Corp's prescence on its share register and James Murdoch in its boardroom, with all the distractions they now bring. Yet the more successful it is with consumers, the more incredible it seems that Ofcom could revoke its broadcasting licence. Instead the regulator, egged on by Parliament, will probably insist on News Corp selling down its 39pc stake, which could be where Rupert Murdoch draws the line and fights back through the courts. Sky shareholders have, after all, got used to Ofcom versus the Murdochs as a legal fixture. What they should fear, however, is Darroch getting bored with running a company whose success is constantly overshadowed by the Murdoch's many travails. His departure really would be a drama the TV company could do without.