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Jonny Foreigner is the new BOE Governor
Comments
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Graham_Devon wrote: »I mean, if you are on about £12,000 a week, everything seems pretty easy, and your bread going up by 20p and petrol increasing by £3 a tank can't really be much of a concern, if at all noticeable!
Yeah like that would ever come out of his salary. Food/petrol like everything else will all go on expenses.
He has to be better than oxygen thief Mervyn King who would struggle to get a min wage job in the real world.0 -
Thrugelmir wrote: »So why did an American run Barclays bank? Likewise BP currently.
Or an Italian become CEO of Vodaphone.
The world at the highest level is now global.
I was referring to the fact that you cannot necessarily draw any particular conclusion regarding economic management from the fact that Canada's interest rate is higher than ours and their inflation is lower. I wasn't commenting on the appropriateness of the appontment.
Mind you now that you've raised the point, I'm not sure bob diamond's tenure at Barclays is a great example to use!!!!0 -
Are we getting him at the best time or has he had his day?
Are we in a different game now?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I quite liked Mervyn King for the majority of the time he has been in charge of the BOE, but in the last 18 months it has dawned on me what a statue he really was.
Since the crisis of 2007/08 and the blind fumbling chaotic actions that only just held us together he has given speech after speech where he basically advocates a period of time(could be years or decades) where he has no idea what is going to happen.
The UK is still sat with multiple Banking and financial problems and issues that have not even been addressed yet. There are middle earners and low paid who are fighting from day to day to keep their heads above water, and yet while all this continues he just shrugged his shoulders while scoffing strawberries and cream at Wimbledon and basically gave the continous answer of "Well I don't know".
Mervyn King cannot be really accused of doing anything wrong, mainly because he never really did anything to accuse him of that. He has managed to get through two terms without igniting the timebomb that is sure to go off one day.
My hope now is that we are getting a new guy that has been head hunted to DO A JOB, rather than have a boring little coward that never really stopped being a Captain Mannering type Bank manager and who never wanted to rock the boat.
What ever side of the fence you might sit on politically or financially, the whole of the UK now needs some kind of plan to get us moving again, and that will probably involve calculated risk. But taking a Risk and going for it is a far better option than slowly watching the UK going down the pan.
I look at Meryn King now and think was he the type of bloke that was needed post 2007 that had the energy and charisma and get up and go to get us through this crisis..........NO WAY.0 -
He's only a figurehead. It doesn't really matter what he does. The important thing is that he isn't a British banker.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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One of the BBC bods was saying that he is very keen on targeting inflation and would be likely to put a lot of effort into keeping it under 2%.0
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Clifford_Pope wrote: »He's only a figurehead. It doesn't really matter what he does. The important thing is that he isn't a British banker.
An expensive puppet with short strings."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I am more concerned that a great number of our bankers did NOT know the risks that were being taken.
Anyway it seems absurb that there is no UK national suitably qualified.
I think we had the worst of all worlds in that they kind of knew in their bones that there were risks out there, but didn't understand them and out of greed and hubris went into denial about asking any awkward questions.
At the time of the crash one UK bank CEO apparently said to Alistair Darling. " We are no longer going to take risks with things that we don't understand." We could have ended up with an idiot like that as the new Governor.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
One of the BBC bods was saying that he is very keen on targeting inflation and would be likely to put a lot of effort into keeping it under 2%.
HMG must have had a change of heart then regarding trying to partly inflate its way out of debt and appealing to the "yoof market" with low mortgage rates. Maybe that was more King than Osborne after all ?No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0
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