Wednesday, April 29, 2015

Ben Bernanke's Wallet Just Exploded

Former Federal Reserve chairman Ben Bernanke has been hired by giant bond manager Pimco as a senior adviser. Pimco is known for being aggressive in surrounding itself with those who may have special insights into the economy and Fed activities .

As for Bernanke, only last week, he  announced he'd signed on to consult for the hedge fund Citadel. He said that he will be joining no other Wall Street firms.   "This is it," he told Reuters.  "There won't be anymore. They (Pimco and Citadel) prefer not having me consult too many firms and I personally think working with two firms will be plenty."

He also works at the Brookings Institution and commands $200,000 on the speaking circuit.

 Pimco, as of March 31, managed $1.59 trillion in assets.

 Bernanke's lawyers, Robert Barnett and Michael O'Connor of the inside the beltway powerhouse law firm,Williams & Connolly LLP, were the chief architects of the Pimco arrangement, reports Reuters.

 "We are honored to have Dr. Bernanke serve as an advisor to Pimco, and look forward to benefiting from his extraordinary knowledge and expertise to help us add value for our clients," Douglas Hodge, Pimco's chief executive officer said in a statement.



  1. Pay backs not a bitch, it just makes you rich.

  2. What a tool. Someone should kidnap him and drop him off in Baltimore. It just blows me away that grown adults don't laugh this clown out of the room. Is everyone in America such a whore that they'll put up with this jerk just for some money? No one has any balls. Why doesn't anyone publicly and loudly berate this loser everywhere he goes? Does he ever interact with someone who doesn't want something from him? It's the same crap with Obama: he goes on tv and tells a few jokes and we're all supposed forget he drops bombs on children. People are the worst.

  3. Cue the Beatles:
    "Baby You're a rich man, Baby You're a rich man, Baby You're a rich man, too"
    He looks pretty self-satisfied in his elevator. And you wonder why a guy with his credentials would have worked at the Fed for what? 400K? Well, now we know.
    I guess his forecasting was pretty good on a personal level, eh?

  4. I was listening to 'Marketplace' on NPR last night and they were talking to some schmuck who didn't think there was any problem or conflict of interest with Bernanke taking these jobs!

    “The Federal Reserve regulates banks and neither Pimco nor Citadel are banks.”

  5. Pimpco made a wise decision. Bernanke has proven that he has no qualms using taxpayer money to cover the gambling losses of his cronies. Why wouldn't they hire him? They'd be fools not to.