Re:Yellen Summons Regulators to Discuss Financial Market Vol...
by paulmd on Wednesday February 03, 2021 @12:15PM
(#26015983)
The Fed Chairman makes $203k per year. That's not a "set for life" level of salary. After their term is up they're gonna need ongoing financial support from some source or another. And being independently wealthy is not an appropriate solution either, then you've ensured that nobody who is not "of certain means" can ever hold that position regardless of competence.
If you want former fed chairs to never work in the industry again you're going to have to significantly increase compensation and make it a pension for life even after they retire. And the fact of the matter is that's just not how the system works right now so "well maybe we SHOULD tear down the whole system and do it differently" is not really a constructive point in the discussion, it's just a childish tantrum. If you think that's how the system should work, go pass some legislation.
Re:Yellen Summons Regulators to Discuss Financial Market Vol...
by totalZero on Wednesday February 03, 2021 @03:53PM
(#26018960)
It baffles me that you believe she should make six figures to give a single speech simply because that's the only way for her to avoid being broke in her mid 70s.
If you want former fed chairs to never work in the industry again you're going to have to significantly increase compensation and make it a pension for life even after they retire. And the fact of the matter is that's just not how the system works right now so "well maybe we SHOULD tear down the whole system and do it differently" is not really a constructive point in the discussion, it's just a childish tantrum. If you think that's how the system should work, go pass some legislation.