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AtW
1st May 2012, 00:06
http://i.telegraph.co.uk/multimedia/archive/01944/mervin-king_1944579b.jpg

David Cumming, head of equities at Standard Life and one of the most influential figures in the City, said the Treasury must improve on Sir Mervyn when his second term expires in June 2013. The Chancellor has said the appointment process will officially begin in the autumn and a successor named before the end of the year.

Sir Mervyn has not ingratiated himself with the City since the financial crisis – at one point even expressing surprise that the public was not more angry with bankers. However, despite the underlying animosity, senior finance professionals have rarely spoken out so strongly against the Governor.

Mr Cumming said: “The current appointment in my view has been a disaster, so its important to get a better man this time round.”

Mr Cumming did not expand on his position, but City figures are known to be frustrated with the Governor’s apparently conflicting demands for lenders to boost their capital buffers and increase lending at the same time. Futhermore, they find his sermons about bankings' ills grating given his regulatory failings before the crisis.

“He was happy to let them run at 150 miles an hour. Now he wants them running at 10 miles an hour and armour plated,” said one senior City figure. “He’s gone from very light touch to excessive regulation. That’s making it difficult for banks to lend, which is bad for them and the economy.”

http://www.telegraph.co.uk/finance/economics/9236629/King-a-disaster-as-Bank-Governor-says-Standard-Life.html

City chap is not happy with Sir Merv, he must be doing something right for a change - can't believe I am saying it :sick

centurian
1st May 2012, 06:09
he must be doing something right for a change - can't believe I am saying it :sick

We can't believe you are saying it either.

Come on guys, own up. Who hacked Atw's account.

BrilloPad
1st May 2012, 07:10
David Cumming, head of equities at Standard Life and one of the most influential figures in the City, said the Treasury must improve on Sir Mervyn when his second term expires in June 2013. The Chancellor has said the appointment process will officially begin in the autumn and a successor named before the end of the year.


AtW - have you got your application in yet?

AtW
1st May 2012, 09:01
AtW - have you got your application in yet?

I don't qualify because I can't lie with straight face in public saying things that are blatantly untrue :eyes