The BBC Profiles Mark Carney, Uses Word "Goldman" Once

Tyler Durden's picture

It is truly amazing to what lengths the mainstream media will go to avoid talking about what really got Goldman's former head of the Canadian Central Bank the role of Goldman's current head of the Bank of England. But it could be worse: a word search for Goldman in the BBC's just released profile of Mark Carney shows one instance of said word, and as a parenthetical at that. Hey, it could have been zero...

From the BBC

Profile: Mark Carney

The Bank of England's new governor, Mark Carney, was head of Canada's central bank and is a respected figure in the banking world.

He will take over from Sir Mervyn King, the current chief, when he retires in June next year.

Mr Carney was one of five possible candidates whose skills were deemed sufficient to meet the challenges of the top job - a job which will become far bigger next year when the Bank takes back responsibility for regulation from the Financial Services Authority, which is being closed.

He was the eighth governor of the Bank of Canada, where he was five years into a seven-year term.


Born in Canada in 1965, Mr Carney is the son of a school teacher.

He was born in the small town of Fort Smith, Northwest Territories but is no stranger to the UK.

All three of his degrees are in economics, his first from Harvard, but his masters and doctorate were both gained at Oxford University.

He also spent time in the UK during his 13 years with the investment bank, Goldman Sachs, which took him to London, Tokyo, New York and Toronto.

And his links are bolstered by the fact he has a British wife.

Indeed, they can only get stronger - he is expected to apply to become a British citizen.

The citizenship test given to candidates is unlikely to present a problem.


The Bank of England job is not the first non-Canadian post he has been considered for.

He was also a candidate for the job as managing director of the International Monetary Fund, a job that went to Christine Lagarde.

Mr Carney was once listed by Time Magazine as one of the 25 most influential people in the world.

A fluent French speaker, Mr Carney was appointed deputy governor at the Bank of Canada in 2003, spending a year there before becoming senior associate deputy minister of finance until his appointment to the central bank's top job.

As well as being the head of the Bank of Canada, he serves as chairman of the Basel-based Financial Stability Board (FSB) and as a member of the board of directors of the Bank for International Settlements (BIS).

He has a certain amount of intellectual and emotional distance from the banking world he inhabits.

He said the Occupy anti-capitalist protesters were engaged in a "democratic expression of views'' and were "entirely constructive".

He also reportedly had such a set-to with giant bank JP Morgan Chase's boss Jamie Dimon over regulatory reforms that another banking chief was said to have had to email him to patch things up.

His salary by most standards - although not the City's - is very generous.

At £480,000 it outstrips Sir Mervyn's £305,000 a year, with pension contributions on top of that.

But he may well have to work harder than him for his money throughout the five years he is planning to stay as governor of the Bank of England.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Lord Peter Pipsqueak's picture

Start those money printing engines,if you already have money,just burn it.

BaBaBouy's picture

SACKS Rules the Whirld !!!


GOLD $50K In The Pipline...

BaBaBouy's picture

Yeeee Haaa ... CANADA CB Has ZERO GOLD !


Karney To Sell Off The Rest Of UK GOLD (AKA Tungsten) ?????????????????

CPL's picture

That was the first thing I checked this morning as well.  You can buy all the paper gold you want right now from the CB, there just isn't any phyiscal to deliver.  Silver as well, there are coins with crazy shit stamped on them but it's prime pricing for those because they are "collectible".


For those in Ontario secondary sources of physical can be found at most jewelers/pawn brokers with a lower "processing" fee than the central bank.  Supply however is an issue.  So just because you've got the money to spend, doesn't mean you get a chance to spend it.

smlbizman's picture

so how much more rope should i pick up?

TheFourthStooge-ing's picture


so how much more rope should i pick up?

Too much is always better than not enough.

Looney's picture

What? The great Empire has ran out of home-grown Apparatchiks?

I, personally, would love to see Bernanke replaced by a... Penguin... yes, the bird from Antarctica. ;-)

Rubicon's picture

Ministry of propaganda

Cognitive Dissonance's picture

"Born in Canada in 1965, Mr Carney is the son of a school teacher. He was born in the small town of Fort Smith, Northwest Territories but is no stranger to the UK."

Sounds like a lovable bankster to me.

<Are you sure he wasn't hatched?>

CPL's picture

Student swaps are pretty common between commonwealth countries, well, at least it was during Trudeau.  India sends over their best and brightest.  Canada throws one of their over.  Uk sends one over, we send one over.   If you lived in the tundra and someone sayd you could go somewhere on exchange for a eat where the weather wouldn't kill you and there are no bears.  You would be first in line as well.


Other than mining, farming and producing snipers, Canada doesn't have much going on outside of hockey season.  This year doubly so.  No national hockey. 

Cognitive Dissonance's picture

So he was hatched. I thought so. :)

CPL's picture

Well, if we're making back stories.


Carney, raised in the tundra from hatching by a wild pack of Beavers and initiated into the fold by permission of the great Moose leadership. 

There he learned the ways of Inuit Fu to fight in the great Sasquatch war of 1992 outside of Hull, Quebec past the casino over by the skratch and sniff dancers at Pigales.

During the savage Sasquatch battles that raged for about two weeks, Mark learned of the Canadian way of quarts of 50, gravy on pizza and the ritual of the pink puck.  Armed with the sage wisdom of melting the ice around the pink puck, he was pointed out at random at a Consumer's Distributing outlet by senior Goldman Alumni.


The rest is history.

U4 eee aaa's picture

I'm thinking he came walking out of a -40C blizzard with a spotless suit and tie like some sort of weird X-files plot. Was there any reports of 'meteor' crashes in Northern Canada in 1965? Maybe we should go and check for UFO wreckage debris up in the northern latitudes.

Though I could imagine looking around up there, finding the wreckage and suddenly turning around only to see a smiling Mark Carney standing behind us........UH OH!

And WHAT? Fort in Agent Smith? Give me a break!

asteroids's picture

Not true, we produce some of the finest comedians in the world.

Banksters's picture

Jon Corzine here, FUCK YOU!

TheCanadianAustrian's picture

Thanks, Mark, for keeping interest rates at unsustainably low levels and blowing the largest real estate bubble this country has ever seen. Even though you literally did nothing for the past 2 years, your calm demeanor and striking good looks was enough to tell all Canadians "Don't worry, keep borrowing. Everything is going to be all right." Even though you never actually said this, we could all see it in your dreamy eyes.

We may be running one of the largest defecits our country has ever seen, but we can rest assured knowing that you helped postpone the repayment of our debts to some unknown date in the future. When the party finally comes to an end and we must find a way to pay our tab, we'll remember you fondly. You were truly the life of the party.

Bay of Pigs's picture

Canadian consumer debt is higher than American.

Mark "Sky Pilot" Carney.

U4 eee aaa's picture

Who said he did nothing? He talked about unsustainable debt and wagged his finger at Canadian overborrowing in a way that put the fear into all of us. There will be a lot of Canadian binge borrowers that will be glad to see the door close on that one I tell you. They are cringing in their million dollar crack houses as we speak

Oh regional Indian's picture

Notice all these under-50 types being given huge responsibility. Neel Cash and Carry comes to mind too.


NidStyles's picture



He said the Occupy anti-capitalist protesters were engaged in a "democratic expression of views'' and were "entirely constructive".


Really now. I'm sure the shop owners that had their shops vandalized and customers shutout from entering their establishments were thinking quite the opposite.


This guy is just another Statist douchebag.

Terminus C's picture

His story plays out a bit like Lincoln, no? Born on the frontier where learned 'honest values' and hard work, rose to power through his individual effort, not connections, blah, blah, blah... Honest, hard working and overall good guy... Blah, blah, blah...

Over under on him being first president of the world?

NidStyles's picture

Presidents have to be elected not appointed. More like first wannabe dictator of the world.

Mark Carney's picture

Did joke with the wife back in the spring when his name first came up for BOE that he is the anti christ. my wife saw his picture and was creeped out by his smug look and calm demere (she is a psychologist) and I said nah the anti christ is to rise in euopre after there will be large distress and chaos, Carney is Canadian can't be him......well, looks like were almot there.

No Euros please we&#039;re British's picture

Certainly hope his story end soon, like Lincoln.

Dr. Engali's picture

He said the Occupy anti-capitalist protesters were engaged in a "democratic expression of views'' and were "entirely constructive".

He also went on to add that he felt it was important to see what the little people were feeling so he personally sent his man servant amongst the unwashed masses to show solidarity with their cause. It has been reported that the man servant is still in a state of shock and Mr. Carney has been greatly inconvenienced trying to find a suitable replacement.

ATG's picture

Buffett calls for 30% minimum tax rate on 'wealthy'...

WEB got his. Now everyone else with income above $200,000 can pay his taxes too?

buzzsaw99's picture

that maggot can't die soon enough to suit me.

Canucklehead's picture

You know Buffet is selling a bill of goods when he won't support philanthropy or tithing.  He can give his 30% via those means rather than forcing others to give to the government.  The politicians have their special interests and steal and steer taxpayer monies for their personal benefit.

If Buffet weren't such a crook, he would promote the idea of 100% tax deductions for any philanthropic support.  Put your money where your interests lie.  Let others do the same. 

Forcing all these funds into a pot and then stealing the pot is no way to run a railway.

Blankenstein's picture

I am proposing my version of the Buffett rule.  Confiscation of 80% of the wealth of those that benefitted from the taxpayer bailout of the TBTF banks.  Where in the constitution does it say the taxpayer has to bail out the megawealthy?  This tax will help recover some of this stolen money.  

DavidC's picture

A 57% increase in salary from his predecessor.

Things must be good at the Bank of England.


TradingTroll's picture

Harper, before he was elected Prime Minister, promised not to touch the Canadian income trusts

Carney, as a civil servant (before the BOC role) said Canada shouldnt have income trusts and forced their cancelation

No mind that the US has resource Master Limited Partnerships (MLP)

No mind that Canada has as much or more resources as the US, resources that could be financed by MLP.

No mind that the Prime Minister got elected by saying he wouldnt touch income trusts.


So many pensioners go to the soup kitchen and Carney get promoted.



Debeachesand Jerseyshores's picture

I think they just let the fox into the henhouse.

OneTinSoldier66's picture

Many foxes have been let into the henhouse over the years. There are no more live hens. The foxes now feast only upon dead corpses. How long before those have been picked totally clean down to the bone?

OneTinSoldier66's picture

"The Bank of England's new governor, Mark Carney, was head of Canada's central bank and is a respected figure in the banking world."


Yeah, okay. My question is, who respects the banking world? Politicians...

Zero Govt's picture

whoever they pick you just know it'll be wrong

there's only one way to end this bankster cartel, kill the Golden Goose, Govt.

Stop Paying Tax ...this turkey needs stuffing

BalanceOrBust's picture

Cue the Canadianhousing bubble collapse. 

Carney gets out just in time?

And the UK already had its bubble collaspe, so there is only upside from here (although that debt thing looks nasty).

Sockeye's picture

Yep, he couldn't wait to get out. Someone else's mess now.

mrktwtch2's picture

i know im going to get thumbs down on this..but there once was a man who tried to purge this menace from the earth..

Joebloinvestor's picture

And the UK wonders why they are losing the reputation of being the "financial center" of the world?

Funny how they can't find the talent in their own country.

Like Japan/OLYMPUS, expect the guy to be fired when he starts asking ?'s, or to jump right in and join the corruption.

BullionTweet's picture

Mr. Carney did a great job for Canada while with the BOC and should do a good job for the BOE. Well groomed in his pedigree, he should be a blessing for the status quo crossing the Atlantic. I only hope he doesn't try to run the iceberg field dead ahead.

No Euros please we&#039;re British's picture

The guy's not so smart if he had to read a masters at Oxford before proceeding to his doctorate. But then I guess Keynesian economics is a more complicated than rocket science, right?

otto skorzeny's picture

Goldman and Canadian?the only way i could hate him more is if he is a yid.

Bokkenrijder's picture

The BBC, or "the Beeb" as the Brits affectionally call it, has lost it's objectivity loooong looong ago.

It's just another politically correct brainwashing channel, careful to promote the mulit-cultural society, Keynesian economics and the redistribution of wealth by squandering it on 3rd world counties and Greece. For as far as propaganda is concerned, Joseph Goebels would be proud if he could watch the BBC today.

Anything that is slightly to the right of their own self righteous views is immediately labeled as "extreme right wing," just look at how they report on Dutch and Belgian politics. Mishal Husain is pretty cute though, just watch her with the sound switched off so you won't hear her politically correct left wing propaganda.