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Stanley Fischer defends the revolving door between Wall Street and the Fed —without mentioning he’s part of it

Federal Reserve Vice Chair Stanley Fischer’s academic and policy credentials are hard to match. During his days at MIT’s economics department, he was a teacher of teacher, lecturing to Ben Bernanke, the ex-Fed chairman, and Mario Draghi, the current European Central Bank president.

Still, like Draghi and Bernanke, both of whom have had stints in finance, Fischer is hardly a pure academic. He spent three years working on Wall Street, where he amassed a small fortune.

When he made financial disclosures required of his nomination to the Fed’s board in 2014, Fischer revealed he had as much as $56.3 million read more >>>

Source:: BusinessInsider.Com

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