According to this article, Bernanke is charging fees in the region $200,000-$400,000 for his few hours of words of wisdom.
"During his eight years as steward of the world’s largest economy, Mr. Bernanke’s salary was about $200,000 a year. Now he makes that in just a few hours speaking to bankers, hedge fund billionaires and leaders of industry. This year alone, he is poised to make millions of dollars from speaking engagements."
Is it worth to pay him such large amount? It is not illegal to advise someone. However, when an ex-public regulator charges such huge sums for one private dinner, I have a feeling that something is wrong. Unless he brings new things to the dinner table, why would any one pay such huge figures when they can "read what Janet Yallen and Mark Carney have to say and draw same conclusions." What do you think about this?
"During his eight years as steward of the world’s largest economy, Mr. Bernanke’s salary was about $200,000 a year. Now he makes that in just a few hours speaking to bankers, hedge fund billionaires and leaders of industry. This year alone, he is poised to make millions of dollars from speaking engagements."
Is it worth to pay him such large amount? It is not illegal to advise someone. However, when an ex-public regulator charges such huge sums for one private dinner, I have a feeling that something is wrong. Unless he brings new things to the dinner table, why would any one pay such huge figures when they can "read what Janet Yallen and Mark Carney have to say and draw same conclusions." What do you think about this?
I agree, I think the fees are absurdly expensive. It seems to be very common for politicians to charge such high speaking fees though. Since 2001, Bill Clinton has made an incredible $106 million dollars. I wonder how those are taxed.
ReplyDeleteyes, I also agree. I don't think I would pay any hight fees in order to hear the same speech all over again (same ideas!). I guess this is just a campaign, after all he is supposed to be an expert about the subject... and I guess that is why people keep hiring him.
ReplyDeleteI share the sentiment that his fees seem crazy high. The biggest reason the same high though, is because, well, who'd want to listen to Bernanke's advice? He didn't do that spectacular a job in the recession.
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