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Loan Modification
: Mortgage Lender Implode-o-MeterFormer Fed Governor Mishkin Paid $124,000 to Write Glowing Report on Iceland before its Collapse; Mishkin Never Disclosed he was Paid
By Implode-Explode Heavy Industries
A nice window into the typical corruption at the Fed.
Former Fed Governor Frederic Mishkin was paid $124,000 in 2006 to write a glowing report on Iceland. He never bothered to disclose that fact. Moreover, the title of his report has since been changed from "Financial Stability in Iceland" to "Financial Instability in Iceland". What's up with that?
...
Unfortunately, being a economic fool, a Keynesian clown or a monetarist clown is not grounds for dismissal from either the Fed or Academia. However, unethical actions are (or at least should be) grounds for dismissal. It is simply unconscionable for someone at that level to author an academic "research paper" without admitting they were paid to do so.
Full post as published by Mortgage Lender Implode-o-Meter on August 22, 2010 (boomark / email).
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