Wednesday, April 29, 2015

Bernanke Joins With PIMCO But Stays Full-Time at Brookings

Another day, and another way for former Federal Reserve Chairman to rake in the dough.  This time, it was just announced that he has joined bond giant PIMCO as a senior advisor.  Here is more:
In an interview, Bernanke, who only last week announced he'd signed on to consult for the hedge fund Citadel, said he will restrict his Wall Street advisory roles to just the two firms. He also works at the Brookings Institution.
"I remain full time at Brookings. I am not an employee of either firm. I am an outside senior advisor," Bernanke, 61, told Reuters.
"This is it," he said.  "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."

Here is a recent Think Tank Watch piece entitled "Think Tank for Show, Wall Street for Dough," highlighting how Bernanke is at Brookings for the prestige but relies on Wall Street for the real money.