Tuesday, April 21, 2015

Think Tank for Show, Wall Street for Dough

They say that in golf one drives for show and putts for dough.  Well, in the policy wonk world, one works at a think tank for show, and Wall Street for dough.

Former Federal Reserve Chairman Ben Bernanke is the perfect example.  Bernanke joined the Economic Studies program at the Brookings Institution as a Distinguished Fellow in Residence early last year.  [And he just started a new blog at the think tank.]

Bernanke is likely making a low six-digit salary at Brookings, the world's #1-ranked think tank.  Considering that pittance of a salary and the fact that he can't seem to get a refi on his mortgage, he has decided to rake in some real money by joining with hedge fund Citadel.

Since he has been making $250,000+ on many of his speeches, it is likely that Bernanke will pull down seven figures with his new gig.  That will make him one of the wealthiest think tankers around.  Now THAT is how it's done.