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Goldman Sachs may control Canada Soon? $GS

Bank of Canada Governor Mark Carney Speaks on ...

Bank of Canada Governor Mark Carney Speaks on the 20th Anniversary of Inflation Targeting (Photo credit: canada.2020)

A long time ago Goldman Sachs (NYSE:GS) hired a guy called Mark Carney. Typical hire brilliant and they probably did not spend much time thinking about his Canadian pedigree. Well fast forward and Mark is now the Governor of Bank of Canada. That’s Canada’s central bank. Similar job to Ben  Bernanke at the Fed Reserve except Mark Carney has a good economy, sound banks and a center of right governing political party.

So the rumor mill cranks up because the liberal party who for the past two generations was the natural governing party but lost the last federal election and has been relegated to rump status is searching for a new leader. Many are touting Mark Carney the current governor Bank of Canada. They believe he has liberal values and fiscal conservatism which may appeal to the Canadian voter at the next general election in about three years. Mark Carney is not stamping out the rumours. Justin Trudeau may be announcing soon as well. But that’s another story.

But dammit it another alumnus of Goldman Sachs may reach incredibly high office. Canada is a G8 country. Its finances are sound, people are well-educated. They have plentiful oil and a well-functioning public health care system. Which self-respecting power seeker would not apply. But another Goldman Sachs employee moves up. It’s like a Damn Yankees narrative. Except this ain’t no baseball. But it certainly is Goldman Sachs. Blood sucking squid and all.

George Gutowski writes from a caveat emptor perspective. Follow him on twitter@financialskepti

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