New Bank of England head will have too much power, warns insider

Ex-policymaker Adam Posen points to expanded regulator role as Carney 'told by everyone that he's wonderful' George Osborne's reform of the financial system risks putting too much power in the hands of the newly appointed Bank of England governor, Mark Carney, a former Bank policymaker has warned. As Osborne attempts to salvage his reputation with a tough autumn statement, Adam Posen said the expansion of the Bank of England's empire to include City regulation, coupled with the fawning response ...