Did you see the letter (below) that appeared in the Financial Post that was ghost written by Mark Carney, in which he laces into Terry Corcoran’s incompetence as a journalist?
It’s interesting to observe that Terry Corcoran, who was one of the biggest supporters of Mark Carney’s fraudulent claims about tax leakage from income trusts, when all the evidence and reports pointed to the opposite conclusion (ie the work of HLB Decision Economics, BMO Capital Markets. RBC Capital Markets. PricewaterhouseCoopers etc.), is now being reamed out by the very same Mark Carney for his “factual errors and misrepresentations” and his “error-laden column” and inability to “ensure accuracy” regarding the Bank of Canada's report?
Mark Carney can’t have it both ways. First he wants the whole world to ignore the hard evidence and studies when the topic is income trusts and then he wants the world to hang on his every utterance when he becomes the Governor of the Bank of Canada when the topic is bank capital adequacy.
Maybe these two losers, Terry Corcoran and Mark Carney should switch jobs, as Mark Carney appears to be an expert on what it takes to be a good journalist (is there such a thing in Canada?), while Terry Corcoran, despite not knowing something as basic and fundamental as the difference between deferred taxes and exempt taxes, claims to be an expert on what it tales to be a good central banker.
Financial Post · Saturday, Aug. 21, 2010
Re: Terence Corcoran's column, The High Cost of Bank Regulation, Aug. 10
Terence Corcoran's column in Thursday's newspaper contained factual errors and misrepresentations regarding the Bank of Canada's report on the macroeconomic impact on Canada of strengthened bank capital and liquidity standards.
It is surprising that the Financial Post chose to publish such an error-laden column. Financial Post reporters were among many journalists who attended a Bank of Canada briefing to ensure that they understood the report.
The fact that Mr. Corcoran chose not to attend that briefing, nor to contact the Bank with questions, does not absolve him of the responsibility to ensure accuracy.
The two Financial Post reporters who co-wrote a separate news story got it right.
It is a shame that their editor did not.
Chief of Communications,
Bank of Canada
Thursday, August 26, 2010
Posted by Brent Fullard at 9:38 AM