Tuesday, April 21, 2015

John Baird: Lack of Integrity and the Revolving Door

Baird Jedi-mind-controls a journalist: "You won't report that."
Last week, the NY Times ran a lead story in its “Business Day” section reporting that Ben S. Bernanke, the former Federal Reserve chairman, had signed on to advise the Citadel Investment Group, a hedge fund founded by Ken C. Griffin. Mr. Bernanke believes there is no conflict of interest because he “won’t be doing any lobbying” and because he will not be working for “any firm regulated by the Federal Reserve.” He has joined an impressive list of government economic leaders who took jobs with major investment or banking interests upon leaving their roles as major government players in the U.S. economy. Alan Greenspan became a consultant for a number of private financial entities such as Deutsche Bank, Pacific Investment Management, and the hedge fund Paulson & Co.  Last year, Tim Geithner, former Secretary of the Treasury joined the equity (stocks and bonds) firm of Warburg Pincus.

These outstanding individuals are not only brilliant, but according to their own statements remain paragons of integrity. They tell us that their decisions, at the Fed or heading the Treasury Department, were not influenced by their aspirations in life after they would leave their governmental positions, nor are they now using either insider information or influence via connections they still have with the Fed.

Their claims to being ethical based on legal technicalities of what constitutes “conflict of interest” defy the common-sense experience of just about everyone on the planet Earth.  (more...)

There aren't any Canadian journalists with the courage to write about this, so I had to find an American article -- same idea. Here's another leaching ex-politician:

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