Ben Bernanke, former chairman of the U.S. Federal Reserve, will serve as a senior adviser with hedge fund Citadel Investment Group http://www.marketwatch.com/story/bernanke-signs-on-as-advisor-at-citadel-nyt-2015-04-16
Hiring these big name people is more for prestige and attracting/keeping AUM than anything else, imo.
no one is concerned about the temptations of insider trading considering his intimate, albeit supposedly past, relation with the Fed?
He was action oriented Fed Chairman, we have not yet to seen the unintended consequences of his actions....
So when another August Factor type period happens and they cant figure out whats going on, or which venture is collapsing, can they ask Bernanke to contact some friends and find out. Can a sitting fed reserve bank executive actually tell Bernanke what they know? Say it aint so.
Yet we are to believe the Fed is not beholden to banks and hedge funds. Uh huh. They are independent. Or something.
He doesn't, he was being sarcastic. Add to Bernanke going to Citidel, the N Y Fed's tool in the futures mkts this: http://www.reuters.com/article/2015/04/14/us-usa-fed-disaster-idUSKBN0N528G20150414 and non mkt related items like these, https://www.fbo.gov/index?s=opportu...5061ac6a7f71fcbc0cb9dea0791&tab=core&_cview=0 http://www.dailymail.co.uk/news/art...Mountains-decade-abandoned.html#ixzz3Wod66mbE and it does appear information may be more extremely asymmetrical than generally thought.
So why should we be surprised Bernanke gets a lucrative job at a hedge fund? That's how this business works. He's not working for the public good, is he? PS. Daily Mail is probably not the most reliable source to reference.