Updated:
Original:

Mervyn King Going Out With Both Middle Fingers Fully Extended

Author:

The soon-to-be-former Bank of England governor's got a lot of problems with your people. And now, you're gonna hear about it. Again.

Bank of England Governor Mervyn King will return to the scene of some of his most acidic public encounters today for the annual occasion that helped define his relationship with Britain’s banking industry.

King will speak for the 10th time at the Mansion House, less than 400 feet from the BOE’s doors in the City of London, as the capital’s financial district is known. His appearance at the event for bankers alongside Chancellor of the Exchequer George Osborne occurs just days before he cedes his role to former Bank of Canada Governor Mark Carney….

“I wouldn’t be surprised if he has a few choice words to say about the City, remuneration and risk taking,” said Keith Wade, chief economist at Schroders Plc, which has $359 billion under management. “Carney has been a banker at Goldman so he’ll probably be different. He’ll probably be more sympathetic to the banking system and recognize the pressures that exist there….”

Today’s event is the last before a regime change at the BOE, and follows an acrimonious year in London’s finance industry. After the 2012 speech, King forced Diamond to quit Barclays, while on a radio interview this month, he said Britons have “every right to be angry” with banks.

King Eyes Parting Shot at Bankers Gearing Up for Carney [Bloomberg]

Related

mark-carney-martini2

Mark Carney Proves He Can Raise Interest Rates

The outgoing Bank of England governor has made his highly inadvisable point.

mcbrexit

Bank Of England Chief Eagerly Awaiting Return To Obscurity

Mark Carney gonna be like "New phone, who dis?"

Soon-to-be-Former Bank of England Chief Suggests Radical RBS Surgery

Mervyn King is leaving the Bank of England in a couple of months, and he's got nothing to lose. So he's spitting in George Osborne's eye, blaming RBS for bollocking up the British economy and calling for a Solomonic solution to the problem.

By Cristian Bortes from Cluj-Napoca, Romania (London - Queue at Bank of England) [CC BY 2.0], via Wikimedia Commons

Bank Of England Unanimously Raises Rates In Spite Of Unanimous Lack Of Good Reasons

Mark Carney just had to know what more than 0.5% feels like.

mark-carney-martini

Old Man Bernanke Has No Idea What He’s Talking About, Slightly Less Old Mark Carney Says

The Bank of England governor knows its been a while since the Beard central banked, but this plenty of tools talk is utter nonsense.