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> Banks have no involvement in the Federal Reserve. Sure they don't. That's why Ben Bernanke now serves on the board of two of them (Citadel, PIMCO). And Alan
by kolanos 3y ago
> Banks have no involvement in the Federal Reserve.
Sure they don't. That's why Ben Bernanke now serves on the board of two of them (Citadel, PIMCO). And Alan Greenspan serves on three (Deutsche Bank, PIMCO, Paulson & Co).
If you've never heard of PIMCO, it is the investment bank that advises central banks on their policies and investments, including the Federal Reserve. But banks have no involvement, of course.
> PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. [0]
[0]: https://en.wikipedia.org/wiki/PIMCO https://en.wikipedia.org/wiki/PIMCO