Skip to comments.Former Federal Reserve Chairman Ben Bernanke hits lucrative speech circuit in post-government life
Posted on 03/09/2014 10:40:08 AM PDT by Red in Blue PA
Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the U.S. Federal Reserve.Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in January, according to sources familiar with the matter. That compares to his 2013 paycheck of $199,700, and the appearance was only the first of three around the world this week.
(Excerpt) Read more at m.nydailynews.com ...
Yeah...piss away nearly 5 years of our money (liability anyway) down the drain at $85 Billion per month for T-bills worth nothing and trashed up MBS’s and call him a frigging expert, give him millions to tell us how he did it, etc....
Gee, I did GOOD work on my job... and I don’t get paid $250,000 to blow my nose in public.
The incentives are sure perverse under Obama, aren’t they?
Me too. WTH? Where’s my 250k gigs? LOL! Amazing that these asshats get these cush gigs huh?
Speeches = payoffs
Speeches = access to Bernanke in his new high ranking finance job, whatever it turns out to be
I'm betting that it works like this. Be nice to us when you're in office. Make rulings that we like. Then after you leave office, we'll invite you to make a speech or two.
Wink, wink, nudge, nudge.
These $250,000 (or $2,500,000) post-retirement “speaking fees” are almost always payoffs on promised bribes for “services rendered” while on the public payroll.
Is that a business tax deduction for whoever pays it?
There's this big club, full of the top Democrats and the top Republicans. You and I won't be invited to join this club.
However, there have been times in history when the folks outside the club have broken into the club. For example, it happened in France in 1789 and in Russia in 1917. Such events usually end poorly for everyone involved.
Roger that. Payback ain’t necessarily bad for some folks.
If Ben Bernanke had done a good job as Federal Reserve Chairman, he would have been kept on for another term — just as Alan Greenspan was kept on for 20 years when he appeared to be doing a good job with the economy.
In fact, Ben Bernanke did such a poor job with the economy that, following his departure from the Fed, U.S. financial markets have been hitting record highs. Janet Yellen is considered a beacon of hope after the Bernanke years.
So why would anyone pay to hear what Ben Bernanke has to say, even in order to ingratiate themselves with him if he should be hired for an influential job in the future? After his failure to help the economy during his eight Fed years, is anyone likely to hire him for an influential job?
Yes, you are correct....”Payback isn’t necessarily bad for some folks...” true..
Payoffs are, however, usually bad for us all (especially when they are for “services rendered” to the remitting party, while the recipient was supposed to be working for the public interest....)
Basically, good for the bad guys, bad for the good guys. That about sums it up. (Unless you’re using common core math. Then you just round up or down whichever benefits the person best.)
Running seminars on how to print up money?
math is a problem here just now,
I was blown away trying to figure
just where the last $6 TRILLION dineros
Obama borrowed (and taxed out of us) and spent
later-admitted “non-existent shovel-ready infrastructure projects” (you know, those invisible things called Jobs)
but alas, Obama has managed to turn $6 TRILLION dollars into a great big giant ZERO for America (excepting we all have to pay it back for the next 100 years, or until the arrival of his Qiyamah)
after failing to solve that math question, I quite frankly gave up on all smaller ( less than 6 Trillion $$) math questions. They ain’t worth solving anymore since there’s this great super-sized new debt piled up on our heads.
I suppose most of our $$ wound up in a Swiss bank account somewhere, or on some offshore atoll (you know, the kind with 3,000 very secretive “banks” all headquartered in a single little UPS-like mail drop)
Uh, hello. It’s called evaporation. Or is it prestidigitation. Or is it sublimation. Hmmm. Wandering minds don’t want to know. ;>}