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Bernanke chose Citadel because he is "sensitive to concerns over the revolving door between Wall Street and Washington." Jack Welch laughed after that was read.
I had to rewind it to make sure I heard it right because as much as I've had issues with what Bernanke has done, I couldn't believe someone could be that completely clueless as to how that statement would be received. "Sensitive to concerns over the revolving door between Wall Street and Washington" does not mean becoming an advisor to one of the largest hedge funds in the United States...
A quote from the article and hopefully the words are exact and correct; otherwise could be understood improperly:
"Bernanke told The Times that he was sensitive to the public's anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won't be doing lobbying of any sort."
In the above, is the critical word: "was" I do believe this is a past tense usage, eh?
Will clarify with our daughter, who is more gifted in the grammar department.
Or that someone may send the question to Mr. Bernanke, at his blog.
Well, anyway; he will be able to now qualify for a home loan. I recall he stated there was a problem with this a year or so ago.
""Bernanke told The Times that he was sensitive to the public's anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won't be doing lobbying of any sort.""
Who cares? It's still Wall Street and it's still this unbelievably consistent line of various officials leaving government to advise Wall Street - in this case, one of (if not the largest) hedge funds in the US.
The idea that it is okay because it's not regulated by the Fed is complete and utter nonsense.
You see? My lack of response indicates tepid agreement, or at least "no challenge". I'd be surprised if others don't react (ie: don't comment) in pretty much the same way.
You see? My lack of response indicates tepid agreement, or at least "no challenge". I'd be surprised if others don't react (ie: don't comment) in pretty much the same way.
I expected something like GoldmanSachs, MorganStanley...
But no...life with Ken Griffin.
Well, he is one of richest men in US and appears to be pretty much self made. He certainly has a vested interest in regulatory issues, which Mr. Bernanke can help with...even if he is not doing lobbying directly.
So figures. I'm pretty sure that Citadel is the hedge fund with which the Fed Reserve has had a particularly cozy relationship for some time; I think I read recently that the FR has acknowledged they used Citadel for "data collection" and "consultation." [perhaps I should have stated "with whom," since SCOTUS probably grants legal person-hood to hedge funds as well... though it takes a brilliant mind to get there] @VintageFreak Doesn't Texas have leash laws for that kind of imagination?
heezsafe, i guess I'm not smart enough to understand what you are saying, or if it was joke, or if it was a jibe, or whatever. I also don't know whether you are talking about my imagination or Bernanke's. It maybe because I was not born Texan. I am here only because so was and is the love of my life.
All I know is Bernanke and his ilk are serving the objectivists-pretending-to-be-capitalists, and who if allowed to run unchecked will destroy this country.
Seems to me like a mild joke/complement re your imagination, and the general (dare I say it?) political climate in Texas. You're both "coming from the same place", though, and it isn't Texas.
Comments
Bernanke chose Citadel because he is "sensitive to concerns over the revolving door between Wall Street and Washington." Jack Welch laughed after that was read.
I had to rewind it to make sure I heard it right because as much as I've had issues with what Bernanke has done, I couldn't believe someone could be that completely clueless as to how that statement would be received. "Sensitive to concerns over the revolving door between Wall Street and Washington" does not mean becoming an advisor to one of the largest hedge funds in the United States...
"Bernanke told The Times that he was sensitive to the public's anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won't be doing lobbying of any sort."
In the above, is the critical word: "was" I do believe this is a past tense usage, eh?
Will clarify with our daughter, who is more gifted in the grammar department.
Or that someone may send the question to Mr. Bernanke, at his blog.
Well, anyway; he will be able to now qualify for a home loan. I recall he stated there was a problem with this a year or so ago.
Who cares? It's still Wall Street and it's still this unbelievably consistent line of various officials leaving government to advise Wall Street - in this case, one of (if not the largest) hedge funds in the US.
The idea that it is okay because it's not regulated by the Fed is complete and utter nonsense.
It's all just another form of:
http://www.investopedia.com/terms/r/regulatory-capture.asp
Yuppers.
Regards,
Ted
http://www.ritholtz.com/blog/2015/04/dear-ben-better-pace-yourself/print/
I expected something like GoldmanSachs, MorganStanley...
But no...life with Ken Griffin.
Well, he is one of richest men in US and appears to be pretty much self made. He certainly has a vested interest in regulatory issues, which Mr. Bernanke can help with...even if he is not doing lobbying directly.
c
Then I hope it goes Bankrupt. And of course no one bails it out.
And who am I kidding?
@VintageFreak Doesn't Texas have leash laws for that kind of imagination?
All I know is Bernanke and his ilk are serving the objectivists-pretending-to-be-capitalists, and who if allowed to run unchecked will destroy this country.