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lucky67
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only in America
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Date:
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4/16/2015 8:51:21 AM
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just announced--former Federal Reserve head ben bernake, is now a "consultant' to a major Hedge Fund--so our former head regulator is now advising hedge funds
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Talullahhound
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only in America
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Date:
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4/16/2015 11:21:21 AM
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He is also a consultant to the Citadel. I don't understand your problem with his being a consultant to a Hedge fund. He's a financial guy and he is probably hoping to make some major $$$ to secure his retirement. I'm curious as to what you think an "appropriate" job for him would be?
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MrHodja
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only in America
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Date:
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4/16/2015 12:31:39 PM
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The question is this: what, if anything, did he do for the hedge fund BEFORE he left the Fed and is the position payback. Conflict of interest or the appearanced of COI are no-nos, but unfortnately adherence to the standards by individuals and enforcement by organizations seems to vary widely.
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lucky67
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only in America
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Date:
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4/16/2015 1:11:58 PM
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Citadel is the hedge Fund I was referring to; evidently you are not aware of how hedge funds participated in the Mortgage meltdown & are now continuing to do so
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Talullahhound
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only in America
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Date:
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4/16/2015 6:45:35 PM
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Yes, I am vaguely aware of it. But I don't see anything wrong with him becoming a consultant to Citadel. I don't think that it necessarily an indication that he did any special favors for anyone. Lots of Congressional staffers leave Congress and go to work for Lobbyists. I don't fault anyone for looking for a high paying job, using their knowlege and experience. I don't know the particulars of his departure as Chairman, but the standard clause usually says that you personally can't represent to the government for a period of time. Sounds like his was 2 years. Do you have any idea how many Generals go to work for major defense companies after they retire?
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