Former Fed Governor Frederic Mishkin Exposes Himself As an Unethical, Paid Hack
(h/t WCV and Mish)
Ooopsie! See, you'd think a central banker would know better. You'd think that he'd try to cover his tracks and at least disclose the $124,000 he was paid by the Iceland Chamber of Commerce to write a glowing review of Iceland's questionable financial condition. And, failing that, you'd think he'd at least have the sense NOT to change the title of his paper from Financial Stability in Iceland to Financial Instability in Iceland. Please, who do you think you are fooling, homeslice?
Mish calls it like he sees it:
Mishkin's Columbia Business School Biography is an impressive read but the man does not have an ounce of common sense.
It seems like you have to be an economic fool to be appointed to the Fed or be on the Fed's staff. Furthermore, Keynesian and Monetarist clowns certainly have an inside track at university professorships.
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.
Word! Is he talking about Paul Krugman? Throw that guy on the top of the list of hack academics infecting education with their hare-brained ideas and questionable ethics.
Don't miss the video.