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The whole problem with "revolving doors" is that people regulate the same places they then work at. This creates bad incentives and corruption. If Bernanke was
by bobcostas55 12y ago
The whole problem with "revolving doors" is that people regulate the same places they then work at. This creates bad incentives and corruption. If Bernanke was in charge of HF regulation and made special rules that helped Citadel and then went to work there..that's an issue. And it happens all the time in certain industries.
I don't see the corruption angle here. Can you point to specific actions Bernanke took as Fed Chairman that you think he is now being paid for?
- VienneseCPA 12y agoThis game will help you learn about the Fed: http://sffed-education.org/chairman/ http://sffed-education.org/chairman/ The Fed "regulates" (I use the word loosely) interest rates. Lots of trading (by hedge funds and others) depends on expectations about future monetary policy. _Maybe_ the former Fed chairman would have insights about that?
- kingkawn 12y agoYou want me to point out a moment where Bernanke is corrupt, but I'm suggesting that the setup itself is the corrupt part. The people who steward the economy live and work alongside the people working their hardest to exploit it. With his turn at the helm complete he seamlessly steps across the boundary that never really was there in the first place.