Nearly 150 French economists objected to President François Hollande’s plan to appoint François Villeroy de Galhau, formerly co-chief operating officer at BNP Paribas, to head the country’s central bank.
The economists, writing in Le Monde, slammed him, They wrote that de Galhau’s experience “without a doubt confers upon him an excellent expertise in the banking sector, at least as much as it exposes him to grave conflicts of interest and undermines his independence.”
“It is utterly unrealistic to think that one can have served the banking industry, and then, a few months later, regulate it with impartiality and complete independence,” the letter adds.
The signatories included the anti-capitalist Thomas Piketty, author of the recent best seller, Capital in the Twenty-First Century.
While it is good to see a bankster harassed, nothing good would come out of a central banker that is supported by Piketty,
For more on the terrible economics of Piketty, see: The Robert Wenzel Show: Dr. Mark Hendrickson on Problems With Piketty