Second Baby Squid Rumored To Be In The Running For Bank Of England Head
Two weeks ago we reported the somewhat surprising news that according to the FT, current Bank of Canada head, and former co-head of sovereign risk at Goldman Sachs had been "informally" approached by the Bank of England to be Mervyn King's replacement when the latter's contract runs out in June 2013. Once the news broke, the tenuous arrangement to have a former-Goldmanite at virtually every single developed world central bank seemed to have hit a snag as both the Bank of Canada and Carney himself were forced to deny that any interest by the BOE had been expressed. Of course, what was missing from the public discourse is that this was likely one of those "reverse inquiry" type of career moves, whereby the candidate himself, or rather the employing firm - in this case Goldman Sachs, makes the decision whether or not the candidate would be suitable to head the Goldman subsidiary known as the Bank of England. Which is why it is with even less surprise that we now learn that it is none other than the firm's most permabullish strategist Jim O'Neill, who after coining the globalist wet-dream term "BRIC" was sent in exile to chair the firm's worst performing division, GS Asset Management, that is rumored to be the latest replacement for Mervyn King.
From the Sunday Times via BusinessWeek:
Jim O’Neill, chairman of Goldman Sachs Asset Management, is a candidate for governor of the Bank of England, the Sunday Times reported, without saying where it got the information.
O’Neill, who previously led a bid for English soccer club Manchester United, has been approached as a possible replacement for Mervyn King when he steps down from the role in June 2013, the London-based newspaper said.
Of course, at the end of the day, whether it is Carney, O'Neill, Fabrice Tourre, or Thomas Stolper is irrelevant. What is relevant is that Goldman's bloodthirsty tentacles appear to have gripped onto the top position at the BOE and just won't let go. Which is only logical: recall our graphic which showed how Europe would look with Carney at the BOE helm.
Indeed, very little would need to be replaced to show that whether Carney or O'Neill, the only thing that changes is the portrait at the top, even as Europe still remains a crimson red.
The only question is: why the sudden vampire squid fascination with taking over the last financial bastion of infinite rehypothecated leverage? Actually, on second thought, forget it - we just answered our own question.
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