“Bill’s big bets were always on the Monetary Policy Committee. The bunch of knobheads at the Bank of England. Billy hated and he loved those people. He viewed them as everything he wasn’t: privileged, self-important, well-educated, prestigious, powerful and, ultimately, stupid…..He made a ton of money from it. And he fucking loved that.”

Notes

• The Monetary Policy Committee sets British interest rates monthly and is believed to have worsened the 2008-9 banking crisis. Stevenson was a city of London currency trader. He made a great deal of money betting against their interest rate decisions.
• City of London currency traders trade $2.9 trillion each day. Bonuses are very high extending into the millions. Forex Trading In The UK: Getting Started For Beginners (daytrading.com)

Gary Stevenson The Trading Game: a Confession (2024) p190