[Dem-Village] know your enemy

james armstrong james36armstrong at hotmail.com
Fri Dec 3 14:51:17 GMT 2010


From: james36armstrong at hotmail.com
To: democracyvillage at googlegroups.com; diggers350 at yahoogroups.com
Subject: [Dem-Village] know your enemy
Date: Fri, 3 Dec 2010 13:45:34 +0000

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.” 
(another critic of  Mervyn King on the MPC is Blanchflower.) 
also  "King criticises Tory Leaders"..............City A.M.
UK Bank governor Mervyn King  criticised David Cameron and Goerge Osborne for their lack of experience ahead of the election,  according to leaked US embassy cables. King told the  US ambassador Louis Susman  that the future Prime Minister  and chancellor relied too heavily on  on a narrow circle of advisers and "had a tendency to think  about issues only in terms of politics , and how they might affect Tory electablity." King told |Susman he had private metings with the  two  conservative politicians before the election  to urge them to draw up a detailed plan to reduce the deficit.  Following the meetng King had expressed "great concern about the conservative leaders'  lack of experience." according to Susman.  
Look out for more long knives from the City ,  Mr King.

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