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CKA Uber
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PostPosted: Tue Nov 27, 2012 12:31 pm
 


Filibuster Cartoons
Title: Life of a Carney (click to view)
Date: November 26, 2012
In one of the stranger episodes of Canada's political history — if not political history altogether — Canadians awoke Monday morning to learn that the governor of their central bank had been appointed to run England's. Bank of Canada Governor Mark Carney will become the 120th Governor of the Bank of England, said the press release. "I am honoured to accept" said Governor Carney.

It was a truly bizarre announcement — and not just because it marks the first time in the British bank's 318-year history that they've recruited a foreigner to run the show.

Mark Carney has long been one of Canada's most high-profile political celebrities, and a man almost universally beloved by press and politicians alike. A former Goldman Sachs executive with degrees from Harvard and Oxford, he's long been praised as a leading architect of Canada's fiscal stability in the aftermath of the 2008 global recession, and a role model of sane monetary policy on a planet crippled by economic woe. Cautious and conservative in outlook, his management of the Bank of Canada has been notable mostly for keeping interest rates low in order to spur stimulus spending, while simultaneously dismissing the need for tougher banking regulations than the ones Canada already has. Hardly wild stuff, but that's kind of the point.

Always a popular figure on the global stage, last November, the planet's other leading central bankers elected Carney head of the international Financial Stability Board, one of the world's leading institutions of the post-Recession financial order. It was an unsubtle nod to just how much of an enviable outlier Canada's economic performance has been in the otherwise troubled west, and a major coup for a nation ordinarily unaccustomed to wielding quite so much capital — both literally and figuratively.

At the same time, however, Carney's talents were hardly unappreciated in Canada, which is why his sudden desire to emigrate has thrown his home nation for such a loop.

Following Liberal leader Bob Rae's resignation last June, Carney was quickly touted as a dream successor for the troubled party, and the excited chatter among pundits and party insiders remained loud even after (maybe especially after) Justin Trudeau emerged as the default nominee. Had the Governor agreed to seek the job, he would have almost certainly been the overwhelming establishment favorite, with Trudeau's comparative youth and inexperience suddenly even more undeniable than usual. As a candidate for prime minister, he would have made Stephen Harper sweat.

Carney repeatedly dismissed his own draft movement however, once even making the offhanded (and probably unintentionally Freudian) comment that he may as well become a "circus clown." I've got a job to do and I intend to finish doing it, he'd repeat over and over.

But now, evidently, that job is no longer worth finishing after all, and Carney is set to abandon his gubernatorial duties with a full two years left in his mandate. His official departure statement makes no mention of precisely why he agreed to fill the foreign post, to say nothing of why it was in Canada's interests for him to leave at such a delicate time. One can only presume the BoE gig pays better and stimulates his big brain more, and that's reason enough, it seems.

Uncertain times are often laboratories of political precedent, and Britain's attempt to get their domestic finances in order by poaching another country's head banker is certainly a novel one. Carney's decision to actually go along with it, however, puts a bit of an edge on the whimsy.

If a distinguished public servant can abruptly decide to swap one public for another, what does that say about the patriotism of his profession? If the career path of a nation's top bureaucrat is dictated more by what he finds personally interesting and professional challenging than what his government wants or needs, what does that say about the power of selfish motives on a supposedly selfless calling?

Governor Carney was a man as close to rock-star status as a middle-aged banker from the Northwest Territories can possibly get. Loved by his country to the point where many were demanding he run it, he nevertheless chose to abdicate all national responsibility at the very peak of his prestige in order to begin an almost non-sequitur second career on a distant foreign shore.

It was well within his rights to do so, of course, but still — it would have been nice for the guy to at least express some small twinge of nostalgia or affinity for the country that made his overseas promotion possible in the first place. Instead we got an official statement that the Governor "intends to apply for British citizenship" as soon as possible.

Carney was a role model for the world, but the world was also the ultimate destination of his loyalty, and the only place able to satiate an ambition larger than any domestic office.

He may have been a great man that came from Canada, but it seems he possessed only marginal interest in being a great Canadian.


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PostPosted: Tue Nov 27, 2012 12:36 pm
 


Oh, Christ, he's not the Messiah.(pretty good eh?) What, he's the only man for the job in Canada? I doubt if he can fix Britain all by himself, and neither did he keep Canada on an even keel all by himself. (The Liberals did most of that, and the Reformacons weren't able to screw it up too much before the saw the light and became Liberals).


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PostPosted: Tue Nov 27, 2012 1:28 pm
 


"Life of a Carney" heh heh. That's funny, right there.

The whole thing speaks to our not-so-vestigial colonial mindset as well.

I don't think civil servants need to be--or should be--selfless. In this case, he got a job with a lot more money and prestige. London is nicer than Ottawa.


Last edited by Zipperfish on Tue Nov 27, 2012 2:26 pm, edited 1 time in total.

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PostPosted: Tue Nov 27, 2012 1:49 pm
 


Newsbot wrote:
Filibuster Cartoons
Title: Life of a Carney (click to view)
Date: November 26, 2012


He may have been a great man that came from Canada, but it seems he possessed only marginal interest in being a great Canadian.


:roll:

What utterly ridiculous commentary, even for you JJ - it sounds like it was written by a spoiled child who has just learned mommy is going to take his favourite toy away.

Are all those Canadians who head to NYC to work on Wall Street less patriotic than those who stay to work on Bay street?

What about everyone who leaves to work in Hollywood or for a US network? Or Canucks working in Silicon Valley?

Or any of the other 20,000 or so expats around the world who are working elsewhere?

If you're that insecure as a Canadian, it's probably time to pack it in...


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PostPosted: Tue Nov 27, 2012 2:06 pm
 


bootlegga wrote:
What utterly ridiculous commentary, even for you JJ - it sounds like it was written by a spoiled child who has just learned mommy is going to take his favourite toy away.

Are all those Canadians who head to NYC to work on Wall Street less patriotic than those who stay to work on Bay street?

What about everyone who leaves to work in Hollywood or for a US network? Or Canucks working in Silicon Valley?

Or any of the other 20,000 or so expats around the world who are working elsewhere?

If you're that insecure as a Canadian, it's probably time to pack it in...

It's a little different when a high-ranking official for the Canadian government decides to quit his job and become a high-ranking official in a bank wholly owned and operated by the British government (not sure if the BoE is officially part of the government). Just imagine the reaction if Mark Carney accepted the position of Chairman of the Federal Reserve System in the USA.


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PostPosted: Tue Nov 27, 2012 2:25 pm
 


DanSC wrote:
bootlegga wrote:
What utterly ridiculous commentary, even for you JJ - it sounds like it was written by a spoiled child who has just learned mommy is going to take his favourite toy away.

Are all those Canadians who head to NYC to work on Wall Street less patriotic than those who stay to work on Bay street?

What about everyone who leaves to work in Hollywood or for a US network? Or Canucks working in Silicon Valley?

Or any of the other 20,000 or so expats around the world who are working elsewhere?

If you're that insecure as a Canadian, it's probably time to pack it in...


It's a little different when a high-ranking official for the Canadian government decides to quit his job and become a high-ranking official in a bank wholly owned and operated by the British government (not sure if the BoE is officially part of the government). Just imagine the reaction if Mark Carney accepted the position of Chairman of the Federal Reserve System in the USA.


I would be worried if he joined a private sector bank, as there might be potential for conflict of interest, but going to another country to work with their central bank - that's fine by me.

Sure, I would have liked him to stay, as he was bright and did a great job, but IMHO you can't hold people back when opportunity knocks.

It's difficult to pick up and move around the world for a job (I know, I've done it myself) and it's even harder with a family. I wish nothing but the best for people brave enough to try.


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PostPosted: Tue Nov 27, 2012 2:54 pm
 


Boots summed it up for me. Thankyou Boots.


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PostPosted: Tue Nov 27, 2012 3:04 pm
 


bootlegga wrote:
I would be worried if he joined a private sector bank, as there might be potential for conflict of interest, but going to another country to work with their central bank - that's fine by me.

Well, if you get tired of having John Baird as your Minister of Foreign Affairs, I hear Hillary Clinton's going to be available soon. You might be able to pick her up.


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PostPosted: Tue Nov 27, 2012 3:09 pm
 


DanSC wrote:
bootlegga wrote:
I would be worried if he joined a private sector bank, as there might be potential for conflict of interest, but going to another country to work with their central bank - that's fine by me.

Well, if you get tired of having John Baird as your Minister of Foreign Affairs, I hear Hillary Clinton's going to be available soon. You might be able to pick her up.


Hillary, as a non-citizen, could not hold the security clearance needed to be in that position.

and Boots . . R=UP


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PostPosted: Tue Nov 27, 2012 3:16 pm
 


DrCaleb wrote:
Hillary, as a non-citizen, could not hold the security clearance needed to be in that position.

It's not like citizenship requirements are stopping Mr. Carney from being hired by HM Government to a post of great national importance.

But even if security was the issue, what about bringing in Timothy Geithner to head the Ministry of Finance? He'll be available and I'm sure much lower security clearances will be required.


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PostPosted: Tue Nov 27, 2012 3:56 pm
 


DanSC wrote:
DrCaleb wrote:
Hillary, as a non-citizen, could not hold the security clearance needed to be in that position.

It's not like citizenship requirements are stopping Mr. Carney from being hired by HM Government to a post of great national importance.


The requirements for the Gov. of the Bank of England don't need either British Citizenship, or a security clearance. It's simply a Crown Corporation.

Most Ministerial positions in Parliament do require these.


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PostPosted: Wed Nov 28, 2012 4:34 am
 


bootlegga wrote:
I would be worried if he joined a private sector bank, as there might be potential for conflict of interest, but going to another country to work with their central bank - that's fine by me.

Sure, I would have liked him to stay, as he was bright and did a great job, but IMHO you can't hold people back when opportunity knocks.

It's difficult to pick up and move around the world for a job (I know, I've done it myself) and it's even harder with a family. I wish nothing but the best for people brave enough to try.
Very nicely put. I was rather surprised at JJ's tone in this.


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PostPosted: Thu Nov 29, 2012 9:51 am
 


bootlegga wrote:
If you're that insecure as a Canadian, it's probably time to pack it in...
I'm waiting for the day when he breaks down and writes, "The hell with this; I'm moving to California. At least it's warm there sometimes."

Then again, I've usually found him most interesting when he's pissed off at his homeland.


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PostPosted: Thu Nov 29, 2012 11:09 am
 


Murray_Smith wrote:
I'm waiting for the day when he breaks down and writes, "The hell with this; I'm moving to California. At least it's warm there sometimes.".

JJ's a conservative, he'd hate California. Though California politics would give him tons of material to write about.


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PostPosted: Thu Nov 29, 2012 9:02 pm
 


DanSC wrote:
Murray_Smith wrote:
I'm waiting for the day when he breaks down and writes, "The hell with this; I'm moving to California. At least it's warm there sometimes.".

JJ's a conservative, he'd hate California. Though California politics would give him tons of material to write about.
That's my point. California is basically a smaller, warmer Canada. He'd never have a slow week.


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