Monday, November 26, 2012

Economist gets the Mark Carney Prize

bye bye © fintag

News comments:
The death of Clive Dunn has coincided with the end of Mervyn King. RIP the slowest banker in the West.

Boy George has been fretting over his replacement and following his reading of the Economist, his favourite magazine I understand, has followed their lead and gone for ex Goldmander Mark Carney. Poor old Paul Tucker, the odds on X Factor favorite. (economist)

As you know all the top jobs are going to Old Etonians these days but since Osbourne is an outsider, he too has decided the UK has no talent and instead chosen an outsider in a Canadian. Nothing wrong with that. For me its rather exciting because I have met him a couple of times. He is a smart guy and from a CV perspective ticks all the boxes.

The reality of course is the job is cursed. Regulating banks is easy, as long as they don't move offshore but playing around with interest rates and the printing presses is a nasty job but someone has to do it. At least he has the same disdain of Ben Pumping Action Bernanke that I have and importantly has no beard. [Ed: Careful]

We wish him luck.

Today's shorts:
Bank of Canada (fxstreet)

Today's longs:
MC (mortgagestrategy)

Bank of England to be renamed the Canadian Bank of England.