My renewed fascination with economics is timely. As readers may know Somerset County Council invested £25 million pounds with an Icelandic bank and fully expects to be recompensed for this sensible arrangement. Our judgement is confirmed today with the news that our friends at the Audit Commission also invested their millions in the same bank. The Audit Commission knows a good thing when it sees one. For a start they gave us four stars for excellence and they have also written glowingly about our joint venture with IBM. So everything must be in perfect order. All events carry a message, however obscure. I am beginning to see the message for me in these happenings. Events are proving my judgement to be not only perfectly sound but totally rock solid.
I have enormous respect and admiration for Mervyn King. I know that my native abilities in Economics coupled with my much honoured work in Sociology would serve him well at the Bank in its most challenging days. It would be morally wrong to ignore the inner calling of one's soul.
And the money's pretty good too.