Mark Carney is considered one of the shrewdest central bankers in the world

Mark Carney is considered one of the shrewdest central bankers in the world

Locutus

#1Nov 27th, 2012

The response to the Bank of England’s selection of Bank of Canada chief Mark Carney to be its next chief is being met with near universal praise.

Given how explosive subjects of monetary policy are (at least in popular discussion) the lack of controversy is Surprising.

A lot of attention has been paid to the fact that Carney represents a force for strong bank regulation (Canada didn’t have a banking meltdown), something the UK feels it needs given the various busts and scandals that have affected its banks.

more

Mark Carney: How he stayed ahead of the curve in the financial crisis | Business Insider | Financial Post

petros

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

The UK needs 20-30 Mark Carneys to get it's house in order.

Cliffy

#3 Top Rated Post

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Quote: Originally Posted by petros

The UK needs 20-30 Mark Carneys to get it's house in order.

The US could use a whole army of them.

damngrumpy

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Here is a respected man doing something disrespectful to this country. No I am not talking about
taking a job outside of Canada. I am talking about this guy renouncing Canada and taking up
British Citizenship to take a position outside of Canada. The last wonderful former citizen to do
that was, was Was you guessed it Conrad Black who deserted this country for his Lordship Title.
I actually had respect to Carney until he did this. The only way Black weaseled his way back into
Canada is because the current government looked the other way on its policy of not allowing
criminals into Canada. Carney is not a criminal just another one of those opportunists that give up
citizenship for a job.

Nuggler

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Quote: Originally Posted by damngrumpy

Here is a respected man doing something disrespectful to this country. No I am not talking about
taking a job outside of Canada. I am talking about this guy renouncing Canada and taking up
British Citizenship to take a position outside of Canada. The last wonderful former citizen to do
that was, was Was you guessed it Conrad Black who deserted this country for his Lordship Title.
I actually had respect to Carney until he did this. The only way Black weaseled his way back into
Canada is because the current government looked the other way on its policy of not allowing
criminals into Canada. Carney is not a criminal just another one of those opportunists that give up
citizenship for a job.

Hey Grumps; I don't think one has to renounce Cdn. cit. in order to take on British. If'n I'm wrong I apologize ahead of time.

Lord Arsehole did it, but I wouldn't judge Carney on that basis.

Unfortunately some con will probably get some other con to be the newbie banking head, and it'll be George Bush Land for us.

PS Not too long ago Carney said he had no interest in the job. So, a flip and a flop. Are they all the same?

SLM

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Quote: Originally Posted by Nuggler

Hey Grumps; I don't think one has to renounce Cdn. cit. in order to take on British. If'n I'm wrong I apologize ahead of time.

I think you're right.

Dual Citizenship

Quote:

Canadian citizenship law allows Canadian citizens to acquire a foreign nationality without automatically losing their Canadian citizenship

UK Border Agency | Can I be a citizen of two countries?

Quote:

You do not need to give up your present citizenship or nationality to become a British citizen

Spade

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

"... near universal praise."
Even in England?

Signing all those bills ($5, $10, $20, etc.) the Mint printed must have been exhausting!
And, scolding us plebs for borrowing money (at historically low interest rates) was trying!

SLM

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Quote: Originally Posted by Spade

"... near universal praise."
Even in England?

Signing all those bills ($5, $10, $20, etc.) the Mint printed must have been exhausting!

Pretty sure he's got a machine to that for him. It is the computer age after all.

L Gilbert

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

Um, perhaps the UK requires a senior banking official in the UK to actually have citizenship there? Kinda like the US requirement for a president to be an actual resident of the US?

Mowich

#10

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 27th, 2012

I wish Mark all the best. He's done well by Canada. I sure hope that whoever replaces him has as much financial nous.

Bar Sinister

#11

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 28th, 2012

What I found interesting about the Mark Carney move was his compensation. It seems that his salary for occupying the most important financial position in the UK is to be one million dollars per year. Although that seems to be more than adequate compensation it pales into insignificance compared to the salaries paid the the CEOs of the British banks that screwed up their financial system in the first place. There is something wrong with a system that continuously rewards incompetent corporate executives with huge salaries and bonuses and pays relatively low levels of compensation to thos who actually know what they are doing.

Spade

#12

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 28th, 2012

How much did Mark Carney make when he worked fthirteen years or Goldman Sachs in London, Tokiyo, New York, Toronto...?

earth_as_one

#13

Re: Mark Carney is considered one of the shrewdest central bankers in the world

Nov 28th, 2012

Canadian law does not permit Canadians to become members of the British House of Lords without PM approval. PM Chretien refused Conrad Black's request, forcing Conrad Black to renounce his Canadian citizenship in order to become a Member of the British House of Lords. If Chretien has said yes, CB would still be a Canadian citizen.

I believe the Governor of the Bank of England requires British citizenship, but Canadian law does not restrict Canadians from having dual citizenship of becoming the Governor of the Bank of England.

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