Bank of England's Carney Says Bankers Should Be Less Selfish.

[elleng]

Ya think???

Bankers should think less about personal gain and more about the health of the rest of the economy, Bank of England Governor Mark Carney said on Tuesday.

Speaking at a conference on 'inclusive capitalism' organised by the City of London - which was also addressed by former U.S. President Bill Clinton and Britain's Prince Charles - Carney said bankers needed to rebuild public trust.

"Just as any revolution eats its children, unchecked market fundamentalism can devour the social capital essential for the long-term dynamism of capitalism itself," he said. "A sense of self must be accompanied by a sense of the systemic."

http://www.nytimes.com/reuters/2014/05/27/business/27reuters-britain-boe-carney.html?hp

[Jefferson23]

1. They are true confidence builders, aren't they? n/t

[jwirr]

2. Must be something coming down if any banker is actually worried about their own greed. One thing

I think he heard what the head of the IMF said and is covering his back.

[el_bryanto]

3. From Wikipedia

The Governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the Bank, with the incumbent grooming his or her successor. The Governor of the Bank of England is also Chairman of the Monetary Policy Committee, with a major role in guiding national economic and monetary policy, and is therefore one of the most important public officials in the United Kingdom.

So not a regular banker really - still - what he said makes sense.

Former Governors of the Bank of England include Sir Gilbert Heathcote and Stamp Brooksbank. I'm thinking of changing my name to Stamp Brooksbank.

Bryant

[elleng]

4. Thanks for the background, el_bryanto.

Quite a name!