Saturday, May 24, 2014

Life After Serving With Fed Reserve: Not That Shabby




All aboard. This gravy train's next stop: the Federal Reserve

This story caught my eye - as if we didn't already know this stuff is rather routine (smile). 

Summary: According to the New York Times' Alexandra Stevenson, Ben Bernanke had barely left his office when he jumped aboard the global gazillionaire gravy train – a couple of tidbits:

Mr. Bernanke arrived in the ME on a Tuesday, spoke in Abu Dhabi on a Wednesday, then in Johannesburg, and by Friday, he was back in Houston. That was one week in March and a particularly busy one for Mr. Bernanke. 

During his eight years as steward of the world's largest economy (the Fed), his salary was about $200,000 a year. Now he makes that in just a few hours speaking to bankers, hedge fund billionaires and leaders of industry. This year alone, he is poised to make millions of dollars from speaking engagements. 

Bernanke is following a well-trodden path that his predecessor, Alan S. Greenspan, and other Washington policy makers often take.  

I think we refer to it as “the revolving door” in and out of Washington, DC and high government office. Yep - that's it ... no wonder that door is gold-plated.






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