It’s Bernanke’s Unreported Meeting Schedule That I’d Like to See

BernankeIt was widely reported the other day when Bernanke gave a speech in Abu Dhabi for which he was paid $250,000.  
While Bernanke’s visible speaking engagements are actively reported, I can guarantee you that he is conducting very private, non-disclosed meetings for which I’m sure he’s paid much higher “consulting fees” than his publicly announced speech compensation.  
It’s not the news you see that should bother you, it’s the news that doesn’t get reported that is most dangerous.



Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics:

Bernanke will also reportedly conduct a meeting with 8 hedge fund titans for another $250k plus he will be doing a speech in Turkey for $300k (article link).   At least now we know why Bernanke took the Fed-head job rather than remain in his cushy ivory tower at Princeton.  Now Bernanke can afford to enjoy the same luxuries as do the Wall Streeters his money printing and bailout policies enriched.

But I would be much more interested in seeing Bernanke’s meeting schedule that does not get reported.  I know Greenspan had one that would surprise all of you.   One of my best friends in NYC, Jerry Epstein (now deceased from diabetes), was a top-notch chef who did many gigs with very wealthy people. He chef’d for people like Carl Icahn, Michael Steinhardt, Mickey Drexler (J Crew/GAP) and Doris Duke.   Around the time Greenspan retired from the Fed, Jerry was Steven Cohen’s personal chef.  About two weeks after Greenspan left the Fed, Jerry called me to tell me that he was preparing a meal for Greenspan, who was having lunch with Cohen at his residence in Westchester (his home was in Westchester, his office was Stamford, Connecticut).   While I got the details on Jerry’s menu, I would have been more interested in the menu of what would be discussed.

I bring this up because, while Bernanke’s visible speaking engagements are actively reported, I can guarantee you that he is conducting very private, non-disclosed meetings for which I’m sure he’s paid much higher “consulting fees” than his publicly announced speech compensation.  After all, how many of you heard about Greenspan’s one-on-one luncheon meeting with Steven Cohen?  It’s not the news you see that should bother you, it’s the news that doesn’t get reported that is most dangerous.