Ben Bernanke, former chairman of the Federal Reserve, has officially entered the revolving door.
Two weeks ago he was hired as a senior advisor at Citadel, a $25 billion hedge fund. Then on Wednesday he picked up another consulting gig with the $1.6 trillion global behemoth Pacific Investment Management Company (PIMCO). Bernanke told The New York Times he's sensitive to worries about conflicts of interest, and took offers only from firms that aren't regulated by the Fed. Which is admirable. But what's troubling about Bernanke's new gigs isn't the possibility of outright corruption or quid pro quos.
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