(V): He has a great reputation here in Canada
Nobody has a bad word to say about him

The Col: Good. As he's taking over (as you probably know) the Bank of England gov'nor job.

(V): I guess he'll be hearing 'G'morning Guv'nor!' for the next 5 years

The Col: If he's not turned into a lamb for the BBQ ... longer.

(V): He has stated he's returning to Canada after 5 years

The Col: If he's good.. they might make him an offer.. .. .

(V): I hear he's a sucker for good Yorkshire pudding

The Col: Isn't everyone!!

The Col:

More like: 'morning Guv'

Übergeek 바둑이: As long as it doesn't turn into "who's the daddy!" .. ... well maybe when it comes to certain stubborn bankers.

.. quote from Ray Winstone, in the film "Scum".. old brit film on borstals.

(V):

> Any Canadians got a view on Mr Mark Carney...

I think there is a lot of hype about him just because he was appointed to the Bank of England. However, I am not entirely sure as to whether he is as good as the hype makes him to be.

Carney spent 13 years at Goldman-Sachs prior to going into public office. About his role there I found the following:

"He worked on South Africa's post-apartheid venture into international bond markets, and was involved in Goldman's work with the 1998 Russian financial crisis ... Goldman's role in the Russian crisis was criticized at the time because while the company was advising Russia it was simultaneously betting against the country's ability to repay its debt."

That makes Carney like most other bankers at the end of the Cold War. They all profitted from the destruction of the Soviet Union and throught the speculation on Russian currency. Nothing new there. It just makes Carney a banker in the same vein as George Soros. It is not surprising since studied at Harvard and Oxford, and the economics that people learn in these places are cutthroat capitalist economics.

From 2004 to 2007 Carney worked for the Department of Finance. "Carney was also the "point man" in the government's profitable sale of its 19 percent stake in Petro-Canada.[" This is in line with his right-wing conservative background, which is also evident in his good relationship with Conservative Prime Minister Stephen Harper.

Carney was appointed Governor of the Bank of Canada in February of 2008, several months before the Sub-prime Mortgage Crisis in the USA. Carney built his reputation because he acted quickly to privide liquidity to the Canadian financial markets as the crisis unfolded.

However, Canada was not exposed to the same degree of risk that other countries were exposed. Liberal Prime Minister Jean Chretien had refused to follow the American lead and de-regulate the sub-prime mortgage market in the way that George W. Bush did. As a result, the USA put itself in an untenable situation while Canada did not really have a crisis of its own. Carney rpovide liquidity to the market, but that liquidity was probably not needed because Canadian banks were not up to their neck in bad debt.

The Col:
> Nobody has a bad word to say about him

Most Canadians know little about him. I think that he was lucky to be the central banker of Canada. Had he been anywhere else, I am not sure that he would have survived unscathed. Canada has also benefitted from high demand for oil and natural gas. I am not entirely sure that the economic recovery here is the result of his policies or rather from Canada's economy being driven by commodity production.

Carney just attended the 60th Bilderberg Group meeting this year, and shortly thereafter he was named to the Bank of England. That shows Carney to be deeply entrenched on the world's financial elite. His appointment does not come as a surprise.

The real problem for him is that the UK is an entirely different economic beast. The UK is deeply exposed to bad debt across Europe (think Ireland, Iceland), and the regulatory framework is very different from what it is here in Canada. The UK does not benefit from high demand for raw commodities (this is what has saved Canada's economy.) If Carney fails to deliver, he will be torn to pieces by the British banking establishment that traditionally has looked down on "colonnials." If he succeeds he will be a big hero, if he fails he will be torn to pieces. The stakes are very high for him..

Übergeek 바둑이: Very true.

"The UK does not benefit from high demand for raw commodities (this is what has saved Canada's economy.) "

Ours is more of a service based country now, but we still build many items used globally, but more on the electronics side.

"If Carney fails to deliver, he will be torn to pieces by the British banking establishment that traditionally has looked down on "colonnials." "

No. Our press is quite good at highlighting blame, and the banking establishment is at it's lowest reputation for a long time.

It's our politicians that are at risk of being torn to pieces.