A nice little increase on extending contract

[thunderlizard]

In 2003, King expressed his agreement with Alan Greenspan's view that "It is hard to identify asset price 'bubbles'."

Yup. Easier just to create them.

[AtW]

It was done (allegedly) so that King does not get hit by new rules limiting amount of contributions into pensions, pretty shallow action for a public servant - just on what grounds was it advanced - he's got a contract ffs and it's not like he is doing stellar job in the first place.

[TimberWolf]

In 2003, King expressed his agreement with Alan Greenspan's view that "It is hard to identify asset price 'bubbles'."

WTF. Yeah very hard. Except for almost every man woman and child in the UK who've been dumbfounded by house price increases since 2000 and the fact that they didn't tank a decade ago.

[DimPrawn]

Which reminds me.

Why aren't more people angry at the bankers? Greedy money grabbers they are.

Mervyn King is surprised anger at bankers is not greater - Telegraph

I mean, they do a tulip job and get handsomely rewarded.

No doubt getting large sums of cash just given to them!

[TimberWolf]

It's inflation linked and also takes into account all those letters he's had to write, though the two are not mutually exclusive.

[DimPrawn]

King receives £1.4m pension payment early - IFAonline

So there I was, signing the contract extension for all the sterling work I'd done, and the client says, here's a £1.4M top up for your pension pot.


That little payment increased my pension pot from £3.95m to £5.36m.



Which was nice.