He’s no Jonas brother

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The business news reports today that Bernard Bernanke, former Fed Chairman, will be accepting a senior position at a major Wall Street Hedge Fund firm.

I am old enough to recall a time when some prominent men (and they were mostly men, back then) considered it unseemly to “cash in” on their period of national service.  At most, they would accept a university position and teach for the remainder of their careers.

Now, it would be astonishing if a prominent official did not trade on their prominence and more importantly, their connections to make vast fortunes in the private sector.  Actually this is one of the last truly “bipartisan” actions today-everyone does it regardless of affiliation.

I seem to recall that Dr Jonas Salk refused to sell the polio vaccine that he discovered, believing that it would be immoral to personally enrich himself from it-he literally gave it away.

How quaint.


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