How the vampire squid is controlling our lives: They helped cause the crash. Then profited from it. Now, from the Bank of England to the Fed, ex-Goldman Sachs chiefs are pulling the levers of power
Amid the recent management shake-up at the top of the Bank of England, as it was dragged into the investigation of the alleged fixing of the £3 trillion-a-day foreign-exchange markets, one crucial appointment went almost unnoticed.
While public attention was understandably focused on an Egyptian-born mother of twins becoming only the second female deputy governor of the bank, the far more influential appointment was that of economist Ben Broadbent.
As the new deputy governor for monetary policy, he is now the predominant voice on the future direction of interest rates.
His work will have a huge effect on the lives of the British people, for he will have a key role in deciding when the record five years of super-low mortgage rates will end — a decision that will inevitably lead to home-owners facing considerably bigger monthly bills.
But there is one crucial fact that should concern us about the Cambridge and Harvard-educated Broadbent: he spent a decade during the boom-and-bust years as the senior economist at the global headquarters of the investment bank Goldman Sachs.’http://www.dailymail.co.uk/news/article-2591299/How-vampire-squid-controlling-lives-They-helped-cause-crash-Then-profited-Now-Bank-England-Fed-ex-Goldman-Sachs-chiefs-pulling-levers-power.htmlhttp://www.davidicke.com/headlines/how-the-vampire-squid-is-controlling-our-lives-they-helped-cause-the-crash-then-profited-from-it-now-from-the-bank-of-england-to-the-fed-ex-goldman-sachs-chiefs-are-pulling-the-levers-of-power/