Topic: Helicopter Ben Makes It Rain — for Himself (Read 294 times)
For all this money magician did during his tenure, there was gonna be plenty of offers carved out for him to choose from upon stepping down. If only we could rewind the clock to the 90s and start over.
When Ben Bernanke left his perch as the chairman of the Federal Reserve, he did not walk through the revolving door, unlike many other regulatory officials before him and despite the lucrative offers thrown at him. Instead, the former Princeton academic went to the Brookings Institution. But as it turns out, it was just a matter of time. DealBook reports that Bernanke has accepted a position with Citadel, a massive hedge fund.
In an interview with DealBook, Bernanke argues that this does not really mean he is now advising a firm that he was once responsible for overseeing:
Mr. Bernanke said he was sensitive to the public’s anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won’t be doing lobbying of any sort." He added that he had been recruited by banks but declined their offers. "I wanted to avoid the appearance of a conflict of interest," he said. "I ruled out any firm that was regulated by the Federal Reserve."...
yeah right
http://nymag.com/daily/intelligencer/2015/04/helicopter-ben-makes-it-rain-for-himself.html
In an interview with DealBook, Bernanke argues that this does not really mean he is now advising a firm that he was once responsible for overseeing:
Mr. Bernanke said he was sensitive to the public’s anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won’t be doing lobbying of any sort." He added that he had been recruited by banks but declined their offers. "I wanted to avoid the appearance of a conflict of interest," he said. "I ruled out any firm that was regulated by the Federal Reserve."...
yeah right
http://nymag.com/daily/intelligencer/2015/04/helicopter-ben-makes-it-rain-for-himself.html
Jump to: