Mark Carney named next Bank of Canada Governor

Mark Carney named next Bank of Canada Governor

www.cbc.ca

Carney, 42, is currently senior associate deputy minister of finance. Before that posting, he was a deputy governor of the Bank of Canada. He has also served as Canada's finance deputy at the G7.

Carney will join the Bank of Canada on Nov. 1 as adviser to the governor, a position he will occupy until he assumes the governor's role on Feb. 1, 2008.

His appointment comes as a surprise. Most analysts had expected that Paul Jenkins, the Bank of Canada's senior deputy governor, would get the job.

(visit the link for the full news article)

Well... well... well... what have we here?

A surprise (to most analysts) appointment of a young 42 year old (with "connections") to one of the most important posts in Canadian society.

He will be replacing a well respected academic thinker who is set to retire (David Dodge - former Canadian economics professor) who along with some good fiscal management from recent Canadian Governments has given Canada the distinction of being the only G8 country with budget surpluses, paying down debt and strong GDP growth.

I wonder what this guy brings to the table?

Oh yeah... here's his resume:

MARK J. CARNEY

Professional Experience:

August 2003 to present
Deputy Governor, Bank of Canada

2002 - 2003
Managing Director, Goldman Sachs, Toronto, Ontario

2000 - 2002
Vice-President, Investment Banking Services, Goldman Sachs, Toronto, Ontario

1998 - 2000
Vice-President, Corporate Finance, Goldman Sachs, New York, United States

1994 - 1998
Executive Director, Debt Capital Markets, Goldman Sachs, London, U.K.

1988 - 1991
Analyst, Goldman Sachs, London, United Kingdom; then Tokyo, Japan Office for a year

Date of Birth: March 1965

Education: Bachelor of Arts, Economics, Harvard University
Master, Phil, Economics, Oxford University
Doctorate, Phil. Economics, Oxford University

source

Did you catch that?

Goldman Sachs... Goldman Sachs... Goldman Sachs!

Who did he work under at that organisation?

None other than Henry M. Paulson Jr.! The current Secretary of the US Treasury and former CEO and Chairman of ... you guessed it... Goldman Sachs! Also a Harvard economics alumni (so is Bernanke by the way).

Hey, if your going to implement a North American Union with a new currency, you have to make sure you have all the right people in the right places, who have all learned the same things, have the same values and are reading from the same playbook.

.

www.cbc.ca
(visit the link for the full news article)

[edit on 10/4/2007 by Gools]

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Wow, thats quite the string of conenctions you've presented!

Its not surprising that people havent commented on this thread, there tends to be (IMO) little interest in Canadian policitics.

I dont know if I fully believe the NAU theories, but this certainly is an interesting piece of the puzzle. thanks for sharing, flag and a star.

Edit to add: By the way, nice picture

[edit on 5-10-2007 by InSpiteOf]

This is grasping at straws (ironic considering your tumbleweed).

We all know Harper rarely promotes people who were appointed by previous Liberal governments. Other than Emerson (who is doing a great job BTW), I can't think of many high level liberals he hasn't got rid off when given the chance.

I heard about this yesterday but because of the debate, I haven't been paying too much attention to the boards.

Great info though Gools. I'll look into this fellow a little more later.

All the info looks so innocent by itself, but start playing connect the dots and the picture starts to look a lot less friendly.

Great catch, Gools

I found an article that mentions more Goldman Sachs connections:
Mark Carney and the Goldman Sachs economic club

Mark Carney's, Canada's next Bank of Canada governor, joins a long list of powerful global economic policy makers formerly employed at Wall Street powerhouse Goldman Sachs.
Mr. Carney, 42, was the managing director of Goldman Sachs' Canadian operation before opting to join the public service in 2003, as deputy governor of the Bank of Canada. Here are other former Goldman Sachs players now making their name on the economic policy front:
• Henry Paulson, the U.S. Treasury Secretary, was formerly chairman and chief executive at Goldman Sachs.
• Mario Draghi, Italy's central bank governor, was a Goldman Sachs vice-chairman and managing director.
• David Watson, who was Goldman Sachs' chief European economist before joining the Bank of England's monetary policy committee.
And let's not forget Robert Rubin, the former U.S. treasury secretary under President Bill Clinton, who previously served as Goldman Sachs' co-chairman.
All these former high-level Goldman Sachs people getting key economic jobs has kept conspiracy theorists busy throughout the years. Mr. Carney's appointment will only add fuel to the fire.

Well I suppose the fire starts right here on ATS.
Let's see what else is brought up..

reply to post by WuTang


Harper doesn't choose them, the bankers do.

If one looks hard enough, one can discover a conspiracy in a almost anything.

On the surface this looks like the makings of a sinister plot to undermine the sovereignty of two very different countries. But in reality, as was mentioned before, Prime Ministers are not in the habit of promoting high ranking poltical hacks from the opposition ranks.

Sorry gang, move on, nothing to see here.

BTW, the new currency is going to be called the Amero dollar. I got that from a reliable source elsewhere on this site....

Thanks Gools. I missed this one altogether, until this thread. Kinda world-bank associates of different Countries all fall under the same tree.
Anything connecting dots at levels this high, for me, sends up red flags. What can it mean?

Dallas

Bloomberg Columnist: Real Conspiracy

Goldman Sachs Has Gained Too Much Political Power

June 5 (Bloomberg) -- Forget ``The Da Vinci Code.'' If you want to get to grips with a real conspiracy, take a look at all the Goldman Sachs Group Inc. staffers taking over important economic positions around the world...

In Canada, Mark Carney, formerly managing director in Goldman's Toronto office, is now a senior official in that country's Finance Ministry. Link

As this article points-out, there were concerns about the tentacles of Goldman Sachs when Mr. Carney was with the Canadian finance ministry. By appointing him governor of the BOC, are central banks adopting the old business adage: It's not what you know...but who you know? In the quest to foster incestuous relationships between world central banks and private corporate interests, those better qualified for high-ranking positions may get passed-over. Good for business, and for managing a global currency crises? Maybe...but how much of this Royal Jelly actually trickles-down to the drones & worker-bees?

Reporter John Crudele has been unrelenting in his effort to connect the dots between Hank Paulson, the PPT, Goldman Sachs...and the US stock markets. For the most part, his FOIA requests remain, well, FOIA-led. WHY I DISTRUST GOLDMAN SACHS' GOOD FORTUNE

An additional Bloomberg piece on Carney's appointment states: "In a Bloomberg News survey of 36 economists in August, none said Carney was the preferred candidate."

Thanks for the additional info people

See I knew there was a conspiracy here.

More from Bloomberg on Goldman Sachs:

Goldman Record Year Shows New Wall Street in Shakeout

Goldman Sachs Group Inc., increasingly perceived as the world's biggest hedge fund, will report record earnings for 2007.

While Goldman, the largest securities firm by market value, ... also is considered No. 1 in proprietary trading and manages more hedge funds than anyone except JPMorgan Chase & Co.

When Canadian Prime Minister Stephen Harper went looking for a governor for the Bank of Canada, he settled on former Goldman investment banker and finance ministry official Mark Carney.
...
Former Goldman executives including U.S. Treasury Secretary Henry Paulson and Bank of Italy Governor Mario Draghi have been named to top policy-making posts. Paulson, Goldman's former chief executive officer, last year became the 10th senior official to join the U.S. government.

Ex-Goldman leaders Robert Rubin and Stephen Friedman served as White House appointees, while Paulson's former co-CEO Jon Corzine was elected to the Senate before becoming governor of New Jersey.

.

Mr. Carney, indeed, seems an odd choice. Not only is he the youngest governor since the first one 73 years ago, but he has scant central bank experience. He spent his formative career years with US-based Goldman Sachs, in its Moscow office, where the frenetic dismantling of state industries created instant billionaires – which GS assisted. Link

This missive from The Turner Report ( Garth Turner..not Hal Turner) seems to focus much of the argument over Mark Carney's appointment to the BOC on his support of taxing Canadian Income Trusts. Mr. Turner, formerly a conservative MP, now a liberal after suspension, has had quite an outspoken career.

There are some interesting point-counter-point comments at the bottom of this article, including this remark by a Charles Oxley:

"So it seems as if Carney, Flaherty, Harper and the top power brokers are working in cahoots with the US and possibly the Mexican governments in order to put the three countries on a level playing field, after which the NAU and SPP can be introduced, with little or no fanfare."

Welcome to the hive.

Bumped, just cause this thread is even better a year later.

Originally posted by OBE1
...
"So it seems as if Carney, Flaherty, Harper and the top power brokers are working in cahoots with the US and possibly the Mexican governments in order to put the three countries on a level playing field, after which the NAU and SPP can be introduced, with little or no fanfare."

And that is ringing even more true today.

Some people.

It's amazing how people can see all the pieces moving on the board, and still refuse to 'consciously' register the game.

"... move on ...." that's rich!

They don't have to call it what it is, because we wouldn't believe it anyway. The bigger the lie, the easier it is to have it believed.... nothing to see here.....

This is breaking news, for me. I didn't even know Canada had a governor of banking. I didn't even know Canada had governors. I know they have ketchup-flavored chips (which are good, you must try them).

Why would anyone wonder how Mark Carney ended up in charge of the Bank of Canada? Look around you! Goldman Saks executives have taken the top economic positions in almost every country of the world. In financial circles it is said that Goldman Saks runs the world.

bhcourier.com...