Straight Arrow

The surprise appointment of the 'straight arrow' Canadian - Mark Carney - as the new governor of the Bank of England (the UK's central bank) is an important recognition of one thing.

That the 2008 banking collapse and deep recession that followed was not an 'act of God' or a natural phenomenon - as leading politicians tried to hoodwink the public into believing at the time.

Because as the head of Canada's central bank Mark Carney avoided the 'casino' banking approach - which has caused so much misery in much of the western world.

Yet this much riskier and debt driven approach to banking in the UK - happened right under the noses of the politicians who told us (hand on hearts) they were running the country at the time.

In fact the Labour government of the day encouraged ever increasing levels of debt through its own policies - in both the public and private sectors.  

So while Mark Carney's appointment is now being universally welcomed on all sides of the House of Commons - the the politicians on the Labour benches are the ones with a lot of work on their hands.

Because they will have to explain to the voting public why they are backing a very different horse now.

And what has changed to make senior Labour politicians so wise after the terrible events - which threatened to engulf the country only four years ago in 2012.

Art Carney by the way was an American actor who appeared in an episode of the famous Batman television series in the 1960s entitled "Shoot a Crooked Arrow" - playing a character called The Archer.

I wonder if Mark Carney is a relation - wouldn't that be marvellous?