Friday, July 15, 2011

The Wealth of Fed Governors Exposed

Federal Reserve Vice Chairman Janet Yellen stands as potentially the wealthiest member of the central bank’s board of governors since joining in October, reports WSJ.

Fed Vice Chairman Janet Yellen reported assets valued between $5.1 million and $14.4 million, according to financial disclosure forms released Friday.

Ben Bernanke reported assets valued between $1.1 million and $2.3 million — figures barely changed from a year earlier.

Fed governor Elizabeth Duke, a former community bank executive, listed assets of between $3.4 million and $7.9 million. Fed governor Daniel Tarullo listed assets between $1.3 million and $4.3 million. And Fed governor Sarah Bloom Raskin, who joined the board in October, reported assets valued between $1.6 million and $4.3 million.

Upon leaving the San Francisco Fed, Yellen also reported that she received as departure gifts both an Apple iPad, from the bank’s board of directors, and $400 toward the purchase of an Apple iPhone, from the bank’s top officers. The gifts were valued at $400 each.

Bernanke also earned between $150,000 and $2 million in textbook royalties. His 2010 salary was $196,700. Other governors earned an annual salary of $179,700 from the Fed.


  1. 2011-07-15 —

    Weiss Ratings, an independent rating agency of U.S. financial institutions and sovereign debts, has downgraded the debt of the United States government from C to C-minus.

    The C-minus rating for the U.S. reflects a continued deterioration in the weaknesses cited in the Weiss Ratings release of April 28, 2011, including heavy debt burdens, shaky international stability, and poor economic health.

    Weiss Ratings senior financial analyst Gavin Magor commented: "Our downgrade today is not contingent on the outcome of the debt ceiling debate in Washington. It is driven exclusively by the numbers, which indicate that, in addition to a decline in the long-standing weaknesses we noted three months ago, the U.S. has already lost the golden halo that helped guarantee liquidity and acceptance of its government securities in global markets."

    On the Weiss Ratings scale, which ranges from A (excellent) to E (very weak), a C-minus less

  2. The real question is how much of the discount window they access.

  3. The Fed and it's cartel of banks are just fronts for the oligarchs whose ill gotten wealth measures in the trillions.

  4. Well, if I made that much to, inflation would not be that important to me either. :LOL:

  5. What kind of crap iPad did they give her if it's only valued at $400? The base model (16GB, no accessories, no warranty) starts at $499.