know your enemy

james armstrong james36armstrong at
Fri Dec 3 13:45:34 GMT 2010

On October 10th The Governor of the Bank of England told American bankers,
In New York,  
“Of all the possible ways of organising a banking system, the worst is the one we have to-day.”
The City was not long in taking its revenge.
 Now we hear that Mervyn King is ‘too political’ , because  he says ,
26 Nov 2010, Press report-
“Bank of England governor Mervyn King was “excessively political” in his support for the Coalition Government’s spending cuts, in the eyes of some of his monetary policy committee.
Adam Posen, an external member of the nine-strong MPC, said he and others were concerned about wording in the Bank’s quarterly Inflation Report after the General Election.
Mr Posen said: “A number of people on the committee...were concerned that that statement could be seen as excessively political in the context of the election.” 
Look out for more long knives from the City ,  Mr King.
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