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Andrew Bailey is new BoE Governor.

Posted: December 20th, 2019, 9:43 am
by GN100
For those of us that were involved in the Court case concerning Lloyds and our ECNs this announcement to me was a bit of a shock. IMO he was little help in his position then as head of the FCA. I imagine he had an eye to his future prospects when drafting his replies to our concerns.

Interesting to hear comment from Mark Taber who dealt with him frequently at that time.

GN

Re: Andrew Bailey is new BoE Governor.

Posted: December 20th, 2019, 11:26 am
by monabri
RBS & Woodford were on his watch too!

Closer to home for me, SVS Securities.

Re: Andrew Bailey is new BoE Governor.

Posted: December 20th, 2019, 11:54 am
by GoSeigen
GN100 wrote:For those of us that were involved in the Court case concerning Lloyds and our ECNs this announcement to me was a bit of a shock. IMO he was little help in his position then as head of the FCA. I imagine he had an eye to his future prospects when drafting his replies to our concerns.

Interesting to hear comment from Mark Taber who dealt with him frequently at that time.

GN


Must be a mate of BJ's.


GS

Re: Andrew Bailey is new BoE Governor.

Posted: December 20th, 2019, 12:08 pm
by dspp
And LCF.

Under his watch the FCA has remained as useless as the proverbial chocolate fireguard.

When appointing a historian as the Governor of the BoE it is very clear that experts are not welcome in the UK

regards, dspp

Moderator Message:
RS: Text edited to remove political reference

Re: Andrew Bailey is new BoE Governor.

Posted: December 20th, 2019, 8:03 pm
by 88V8
Unfortunately this appointment must be seen as a stamp of approval for his do-nothing approach at the FCA, and will presumably set the tone for the next incumbent, at least as regards retail investors.

Do recall however that Mark Taber had some kind words for him at one time.

V8

Re: Andrew Bailey is new BoE Governor.

Posted: December 21st, 2019, 1:24 am
by GN100
Bloomberg seems to like him, you may be able to read this free:-

https://www.bloomberg.com/opinion/artic ... ign=brexit

Snip:-
With Brexit at the forefront of the government’s agenda, it makes eminent sense to have your most experienced rule-setter in charge to steer the City through a painful divorce. Maybe he’ll help make it a place that can survive and thrive outside the EU.

We shall see,

GN

Re: Andrew Bailey is new BoE Governor.

Posted: December 23rd, 2019, 12:54 am
by UncleEbenezer
GN100 wrote:We shall see,
GN

You'll need to do better than that if you want his job someday. Cultivate that blind eye, and turn it on whomsoever matters.

Re: Andrew Bailey is new BoE Governor.

Posted: December 24th, 2019, 11:43 am
by Swanmore22
Andrew Bailey ?? ..as head of FCA he was useless...waste of appointment.

Hoping he may continue in such glorious vein and do absolutely nothing in his new post.

Swan

Re: Andrew Bailey is new BoE Governor.

Posted: December 24th, 2019, 11:47 pm
by BobGe
Swanmore22 wrote:Hoping he may continue in such glorious vein and do absolutely nothing in his new post.

Perhaps he may feel obliged to provide felicitous comment when called upon.

It was reported that, by pre-arrangement, he only agreed to the FCA post if he were to be considered for the position of Governor.

Re: Andrew Bailey is new BoE Governor.

Posted: February 15th, 2020, 11:05 am
by bobsmydog
Will he be worse than the outgoing one who has turned on a sixpence? Has the change of heart anything to do with his latest appointment?

https://www.cityam.com/mark-carney-sees ... o-economy/

Re: Andrew Bailey is new BoE Governor.

Posted: February 25th, 2020, 4:28 pm
by dspp
dspp wrote:And LCF.

Under his watch the FCA has remained as useless as the proverbial chocolate fireguard.

When appointing a historian as the Governor of the BoE it is very clear that experts are not welcome in the UK

regards, dspp

Moderator Message:
RS: Text edited to remove political reference


It seems Gina Miller et al are of a like mind to me ......

"Campaigners led by Gina Miller are demanding the chancellor launch an independent review into Andrew Bailey’s appointment as Bank of England governor, saying his tenure at the Financial Conduct Authority was characterised by a “toxic cocktail of negligence, incompetence and indifference” that allowed a string of financial scandals to go unchecked.

The group has written to the chancellor, Rishi Sunak, and the head of the Treasury select committee, Conservative MP Mel Stride, saying Bailey must answer questions over scandals that wiped out the savings of small investors during his watch as the chief executive of the City regulator."


https://www.theguardian.com/business/20 ... vernor-fca

dspp