Saturday, December 17, 2011

The Revolving Door (Dick Berner Edition)

President Obama has nominated Dick Berner to head the Office of Financial Research. Berner is a revolving door insider.

He is currently Counselor in the Office of Research and Quantitative Studies at the Department of the Treasury. prior to that gig, he served as the Managing Director, Co-Head of Global Economics and Chief U.S. Economist at Morgan Stanley

He was a member of the Economic Advisory Panel of the Federal Reserve Bank of New York and an Executive Vice President and Chief Economist at Mellon Bank, and a member of Mellon's Senior Management Committee.

Berner also served as Economist for the Board of Governors of the Federal Reserve System, where he co-directed the Fed's model-based forecasting efforts.

Berner is big on "tax reform". Translation: He wants to raise taxes.

1 comment:

  1. Dick Berner? He must've had a tough time at school.