While Key had ridden reasonably comfortably through the monetary crises
of the 90s – the Russian debt crisis, the Asian crisis and dot com
crisis – many did not. Merrills suffered heavy losses and Key, as the
surviving manager had the task of sacking hundreds of staff. As he told
Metro magazine, he earned himself the title of “smiling assassin”
during the sacking spree. Eugene Bingham, 19 July 2008, New Zealand Herald.
“I had a whole lot of people working for me who were at the cutting
edge of delivering quite complex and new and innovative products. They
tended to either be a new product or into a new market, usually the
emerging markets, Russia, Brazil, Argentina. I wasn’t the guy sitting
there dreaming it all up, but I was the guy who was responsible for
those people.” John Key, 19 july 2008, New Zealand Herald.
John Key’s positions with Merrill Lynch from 1995 until March 2001: Global head for foreign exchange, European head of the department for Bonds and Derivatives and managing director of Debt and internet trading.
John Key’s position with the Federal Reserve of New York: One of only four upon invitation advisors only on the foreign exchange committee from the November 1999 until March 2001.
I started out with: I give you Michel Chossudovsky, Professor in Economics and the director of Global research.
But now I’ve had the chance to actually listen to the whole speech and OMG if you do anything today let it be that you watch this speech. Especially pay attention about Prof. Chossudovsky’s portrail of the Asian Crisis, Brazilian Crisis and the Russian crisis.