The first day in the office for Mark Carney at the Bank of England.

We arrogate to the role of governor of the Bank of England a certain Midas touch, they are omnipotent and have their hands on all the levers of power. The truth is that controlling the financial world is far more complex and unpredictable, as we have all seen in recent years. It is now so interconnected and world wide, but London still does play a pivotal role. His tutor from his time at Oxford professor Oppenheim was full of praise for he ex-student - suggesting coffee at the bank might be a good idea, after Carney has settled into the job. The new regulatory task on the bank is more powerful than was the case under Sir Mervyn King, who has just stepped down. Of the many institutions that have suffered credibly in recent times along with the police, doctors, politicians, priests etc - banks and bankers are near the very top. The world economy is in a sorry state principally because they loaned us too much money, and we were all too greedy and couldn't pay them back. Will we ever learn?