Monday, February 3, 2014

Bernanke to Join Washington's Brookings Institution

The Brookings Institution just announced that Ben Bernanke will join the Economic Studies program as a Distinguished Fellow in Residence at the Institute. He starts tomorrow.

“We are proud to welcome Chairman Bernanke into the Brookings family,” said Brookings President Strobe Talbott.

“Brookings scholars have a well established reputation for contributing innovative ideas and trenchant analysis to economic and other public policy debates,” said Dr. Bernanke. “I welcome the opportunity to engage in that vibrant community through research and writing.”

Don't for a minute think this is Bernanke's final destination. This is a typical crony move a la Tim Geithner. Bernanke will likely stay at Brookings about a year, write a book and then grab a crony investment banking position. You don't want to appear too greedy grabbing the lucre. In a year, he'll cut a deal that will result in his getting a nice piece from all the money he printed while Fed chair.

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