Thursday, September 13, 2012

All You Would Be Central Bankers Out There – Britain to Advertise Opening for Next Head of the Bank of England

Dissenting Justice
Callahan - Appointed
by George W. Bush
What- You Expected
Something Different?
Sorry Mr. Bernanke You Are Probably Not Qualified

The Bank of England is the equivalent of the United States Federal Reserve, except that it has been around a lot longer, 17th century, Issac Newton, all that stuff.  Head of the Bank of England is a pretty important job, as it sets monetary policy for Britain’s economy and has tremendous influence in the international finance community.

So in order to find a competent replacement for the retiring head of the Bank of England, the Conservatives who control Britain’s government will leave no stone unturned in their search for the right person.  They are going to advertise the position and see who applies.

Mervyn King, governor of the Bank of England, pauses during the bank's quarterly inflation report news conference at the Bank of England in London, UK
Current Head of the Bank of England Mervyn King on Being Told He Would be Replaced
By Someone Who Answered an ad in the Help Wanted Section of the Classified Ads

A new governor of the Bank of England to succeed Mervyn King will be chosen by the end of the year through "fair and open competition", chancellor George Osborne has said, with advertisements for the job to run from Friday.

The person making the decision will be George Osborne, the Chancellor of the Exchequer, probably the least competent economic official in British government since, well maybe since forever.  So applicants should be prepared to be equally incompetent, if that is possible.

No comments:

Post a Comment