Tuesday, May 19, 2009

The silver lining...

C'mon you Austro doom and gloom merchants, it ain't all bad.

Take the Bank of England, for instance. Their profits have quintupled in the last year, and almost reached the £1 billion pound mark.

This is a splendid achievement, don't you think?

To control and regulate an economy and make money. What fun!

And check this. For presiding over the worst banking crisis in 70 years, Mervyn King is going to get even more money, personally, than he planned for:

Mr King’s pension pot is now worth £5.4m. Both his deputy governors, Paul Tucker and Charlie Bean, have elected to receive smaller salaries and bigger pensions, following an external review of Threadneedle Street’s remuneration policies.
It just keeps getting better.


not an economist said...

... and Zimbabwe has just introduced the 1 trillion dollar Zimbabwean note. See here (you'll have too page down to the entry dated
"Tuesday, 19 May 2009 06:02"):


How long before we get Brown & Mervyn's ugly faces on the wrong side of the British equivalent ....

Jack Maturin said...

Well, at least it will give us a smile when we use it for the only purpose for which it will become fit.