Politico: FIRST LOOK: STANLEY FISCHER DEFENDED - AEIs John Makin in a blog post going up today: Lets see. Stanley Fischer is a distinguished academic economist, teacher and mentor to Ben Bernanke. He has served as Deputy Managing Director of the IMF and Governor of the Bank of Israel, among other key public service posts. Now for the truly shocking news. He worked at Citibank from 2002-2005 AND he made a lot of money. ... The discovery, that Fischer may we worth $56 million has led chief Congressional scold Senator Elizabeth Warren (D, Mass.) to indicate that she will have a large number of questions for Fischer and other Fed nominees ... . Individuals who are highly qualified for positions of Fed leadership by virtue of their academic, and public service qualifications are strengthened by experience at high levels in large banks which, last time I looked, have a great deal to do with the American monetary system. It is time for Senator Warren to find another issue. ... More broadly, it is time for Senator Warren and other alleged Washington hair shirts ... to explain to us why Fed nominees or others who have made a lot of money in the private sector should require extra scrutiny
Posted on: Wed, 19 Feb 2014 14:42:09 +0000