views

Ex-MPC man joins Citi

A CONTROVERSIAL former member of the Bank of England&rsquo;s monetary policy committee is to become the chief economist of US banking giant Citigroup.<br /><br />Willem Buiter, who is a professor at the London School of Economics, will take up his post in January, replacing Lewis Alexander, who left in March to advise the US Treasury.<br /><br />Buiter, a widely published author on economic affairs in books, professional journals and newspapers, has sparked controversy with his strident views on the causes of the global financial crisis.<br /><br />Buiter has criticised the US Federal Reserve and other central banks for mishandling the credit crunch and has warned of a long term loss of faith in the US dollar.<br /><br />In 2008, he told the Fed that it was too close to Wall Street and paid too much attention to the concerns of big US financial institutions.