Keep your friends close, but keep your enemies closer?
Billionaire Critic Of The Fed Under Ben Bernanke Hires Bernanke For Advice
Billionaire Ken Griffin’s Citadel made a high-profile announcement on Thursday, saying that former Federal Reserve Chairman Ben Bernanke will serve as an outside senior advisor to the Chicago hedge fund firm that manages $25 billion. The arrangement makes a lot of sense in many ways. The revolving door between Wall Street and Washington doesn’t often involve big banks like Citigroup or Goldman Sachs anymore. Instead, hedge fund and private equity firms have become the destination of choice. They are richer and guys like Bernanke feel they are less controversial than the big banks. Bernanke told The New York Times ... (full story)