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113 Federal Reserve Staff Members Make $250,000 Annually

Tyler Durden's picture




 

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Just in case you need another reason to dislike the thieving Federal Reserve. From Reuters:

(Reuters) – The top 113 earners among staff at the Federal Reserve’s Washington headquarters make an average of $246,506 per year, excluding bonuses and other benefits – more than Fed Chair Janet Yellen and nearly double the normal top government rate.

Don’t worry Janet, once you leave, you can earn $250k per speech like your hero Banana Ben Bernanke.

The details on Fed pay were provided to Reuters in response to a Freedom of Information Act request for data on all employees of the U.S. central bank’s board whose salaries outstrip $130,810, which is the top of the government’s pay scale in most areas.

 

Republicans in the U.S. House of Representatives have sponsored a bill that would require the Fed to divulge that information publicly.

 

“It certainly bolsters the case for more oversight,” said Maggie Seidel, a spokeswoman for New Jersey Republican Scott Garrett, a co-sponsor of the bill.

 

As of July 31, the Fed’s inspector general led the list with an annual salary of $312,000, followed by the central bank’s four division directors, its general counsel and its chief operating officer, who each earn a base of $265,000.

Not a bad gig. All you have to do is be complicit in the destruction of the American middle class.

 

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Tue, 10/21/2014 - 14:51 | 5360287 Divided States ...
Divided States of America's picture

Thats 250k reasons NOT to rat out your evil doing employer

Tue, 10/21/2014 - 14:55 | 5360290 hedgeless_horseman
hedgeless_horseman's picture

 

 

And when asked why they did not pay taxes on their income they can always follow former head of the NY Fed, Timmy Jeethenr, and say, "I forgot."

Tue, 10/21/2014 - 14:55 | 5360302 InjectTheVenom
InjectTheVenom's picture

END.  THE.  FED.

Tue, 10/21/2014 - 14:57 | 5360322 Deathrips
Deathrips's picture

Id say that they "MAKE" more currency than that.

 

RIPS

Tue, 10/21/2014 - 15:01 | 5360343 FL_Conservative
FL_Conservative's picture

Complicity costs a pretty penny.

Tue, 10/21/2014 - 15:04 | 5360354 pods
pods's picture

Exactly why are these salaries compared to "normal" governement rates?

The FED is private.  Guess they gotta keep up the image?  

Not like Amerikans care. Most probably think the FRN is backed by gold. 

pods

Tue, 10/21/2014 - 15:06 | 5360365 cifo
cifo's picture

I'm sure they give a lot of blow jobs for that money.

Tue, 10/21/2014 - 15:08 | 5360370 J S Bach
J S Bach's picture
"113 Federal Reserve Staff Members Make $250,000 Annually"

 

Yeah... they literally "make" it... out of thin air.

Tue, 10/21/2014 - 15:13 | 5360384 zerozulu
zerozulu's picture

They can make millions a day, who are you to ask why.

Tue, 10/21/2014 - 16:08 | 5360603 negative rates
negative rates's picture

Q: What's the difference between a contractor and a thief?

A: A thief work at night.

Tue, 10/21/2014 - 16:38 | 5360718 zerozulu
zerozulu's picture

Difference between contractor or thief and FED is that  thief and contractor take it from you but you give it to FED.

Tue, 10/21/2014 - 17:15 | 5360905 Theosebes Goodfellow
Theosebes Goodfellow's picture

Yo! What's the beef? The Fed is neither federal or a reserve. It's a private banking cartel. What's the fuss? This news shouldn't be problematic unless the Federal Reserve is somehow involved in manipulating the American economy.

~...

Wait. I didn't say that. I don't even own a nail gun.

Tue, 10/21/2014 - 19:41 | 5361427 Rememberweimar
Rememberweimar's picture

Chosenites printing themselves money for nothing... Yawn... Same thing they been doing for over three thousand years...

Mon, 10/27/2014 - 15:09 | 5383338 Watauga
Watauga's picture

Can someone explain how the Federal Reserve, a private bank, has "federal employees" and how it is subject to the Freedom of Inforamtion Act, which applies only to the Executive Branch of the Federal Government? 

Tue, 10/21/2014 - 15:11 | 5360382 Harbanger
Harbanger's picture

Barry gets 400k a year to play golf.

Tue, 10/21/2014 - 21:48 | 5361845 sun tzu
sun tzu's picture

and destroy america in his spare time

Tue, 10/21/2014 - 15:12 | 5360373 Majestic12
Majestic12's picture

"Complicity costs a pretty penny."

Is this really any surprise?

Let he who is without a complicit paycheck throw the first stone....

Therein lies the problem, sheeple.....

$250, in the scheme of the 1% is peanut shell crumbs....

Yet, the collective 99% will stab each other in the back for a piece of it...thinking that it is "real" money....

Exercise: Go to BLS and look at "national income" (annual cash, not physical assets)...now divide by $320 million....now, consider 65% are "firm" working age.....

Cash alone is $500k per the latter figure...even more if divided by "family"....now, throw in the "hidden" $32-56 Trillion in offshore accounts....

The point is not who should get what....the point is "perspective" of how much all "working" (even these bastards) people have been raped for so long.

Most have no idea just how "productive" this country has been...and can still be....

We just need to stop drinking Koolaid and stabbing each other in the back....

Tue, 10/21/2014 - 17:27 | 5360959 Escrava Isaura
Escrava Isaura's picture

Majestic12

How are you going to suggest changes when most people CAN NOT describe the situation correctly?

 

Read some of the posts? You would think that these people would have learned the obvious by now… But they haven’t.

 

 

America is a “Corporate State”, in a “Corporate Media”, ran by ‘Corporate Political Parties” built 227 years ago (Federal Convention of 1787).

 

America is functioning exactly like it is supposed to function. Don’t take my word for it, just look at America’s track record. It’s all there! Just look at it.

 

 

"Strength lies in organization, in careful long-range planning and implementation, in consistency of action over an indefinite period of years, in the scale of financing available only through joint effort, and in the political power available only through united action and national organizations." -- Former U.S. Supreme Court Justice Lewis F. Powell

 

Tue, 10/21/2014 - 14:59 | 5360330 Arius
Arius's picture

Is that smt that is suppose to make us upset?

 

may be thats a lot of money in Misura, but nothing, nada in NY City ... you dig?

Tue, 10/21/2014 - 15:17 | 5360404 SilverIsKing
SilverIsKing's picture

One can live in NYC as a family of four on that salary.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the Bronx or Staten Island.

Tue, 10/21/2014 - 15:36 | 5360477 JRobby
JRobby's picture

NOW!

Tue, 10/21/2014 - 15:55 | 5360549 Jahbulon
Jahbulon's picture

Imagine the outrage if there is ever a day they don't prop up the markets and the little guy gets crushed.

Tue, 10/21/2014 - 19:08 | 5361332 GOLDTRADERRR
GOLDTRADERRR's picture

They HAVE to pay that much to hire 'competent' people.

That is, people who will keep the scam going.

http://goldtradercommentsaugust2010.blogspot.com/

Tue, 10/21/2014 - 14:54 | 5360293 knukles
knukles's picture

My Federal Reserve Unmarried Working Underprivileged Cokeinfused Mother Analyst makes $250,000 messing around on her laptop dance from home in her spare time.

Tue, 10/21/2014 - 15:01 | 5360337 Arius
Arius's picture

how much is that per hour? 

 

sorry but your competition usually cites per hour ... got to make comparison, before i decide where to apply for ...

Tue, 10/21/2014 - 14:54 | 5360294 Ironmaan
Ironmaan's picture

When you create money out of nothing and then lend it out to the public at interest, its rather easy to make money. These fucks produce nothing and are worthless to men who actually produce something of value.

Tue, 10/21/2014 - 15:07 | 5360363 LawsofPhysics
LawsofPhysics's picture

...but especially men who use FRNs or try and save in that worthless paper script.

Tue, 10/21/2014 - 15:10 | 5360375 Ironmaan
Ironmaan's picture

Yep...and they pay you nothing on the notes you save. Can you say FINANCIAL REPRESSION!? What a great way to steal from the public. No one notices and so no one in office pays the price.

Tue, 10/21/2014 - 15:09 | 5360372 pods
pods's picture

Actually they are a drain on those who make things of value, as the FED has their labor valued in something that they control.

Makes for a nice discussion though.

Like when I entertained the concept of the income tax is slavery with a black guy I worked with. He was pissed, but could not counter my arguments.

If they have the right to a dime, they have a right to all of it.

pods

Tue, 10/21/2014 - 15:17 | 5360396 Ironmaan
Ironmaan's picture

Agreed. They are a drain on the productive man. Their 2% inflation targets purpose is to keep the productive man working for a lifetime; continually eroding his savings and requiring him to be a tax donkey for the state for as long as possible. 

Tue, 10/21/2014 - 15:40 | 5360485 JRobby
JRobby's picture

New RE bubble time!

Tue, 10/21/2014 - 14:53 | 5360300 SumTing Wong
SumTing Wong's picture

So, if they're ponying up that kind of money, maybe they should hire financial geniuses that hang out at ZH. We'd actually fix the damned economy, even if we don't have a great beard like the Bernank (or Yellen for that matter).

Tue, 10/21/2014 - 15:21 | 5360422 Harbanger
Harbanger's picture

They'd want to be paid in ounces and would be immediately nailgunned.

Tue, 10/21/2014 - 14:55 | 5360310 saints51
saints51's picture

What they make per year is irrelevant Mike. Might as well post an article about Don Corleone's annual salary. Its the game all of us are force to play that is the issue.

Tue, 10/21/2014 - 15:09 | 5360376 pods
pods's picture

^this.

Salaries matter little when you compare the worth of control over the world's reserve currency.

pods

Tue, 10/21/2014 - 15:16 | 5360393 saints51
saints51's picture

Exactly, These 113 employee's are just that...employee's. What we should be reading about is what the stock holder's of the Federal Reserve make per year.

Tue, 10/21/2014 - 15:40 | 5360484 sleigher
sleigher's picture

That is a threat to national security.

(It might piss off everyone just enough)

Tue, 10/21/2014 - 16:48 | 5360787 Postal
Postal's picture

Or control of the internet. I hear the NSA has all the porn. :D

Tue, 10/21/2014 - 14:55 | 5360313 SethDealer
SethDealer's picture

ho lee fuk

Tue, 10/21/2014 - 14:57 | 5360314 WTFRLY
WTFRLY's picture

US Citizen, Press TV reporter dead in car crash near Syria 2 days after Turkey calls her a spy
http://wtfrly.com/2014/10/20/us-citizen-press-tv-reporter-dead-in-car-cr...

Tue, 10/21/2014 - 14:58 | 5360329 RaceToTheBottom
RaceToTheBottom's picture

But it is OK cause they are an ally.

 

Tue, 10/21/2014 - 14:59 | 5360328 firstdivision
firstdivision's picture

What plebs.  GS averages double that. 

 

Is that all in comp (salary+bonus+bribes)?

Tue, 10/21/2014 - 15:43 | 5360496 NotApplicable
NotApplicable's picture

Was wondering if anyone would mention this.

Tue, 10/21/2014 - 14:58 | 5360331 Seasmoke
Seasmoke's picture

Well that's the first 113 that should be hanged for Treason. 

Tue, 10/21/2014 - 15:02 | 5360347 yogibear
yogibear's picture

Doing satan's work.

Tue, 10/21/2014 - 15:01 | 5360336 Captain Willard
Captain Willard's picture

Because of Dodd-Frank, the Fed has drastically expanded its "oversight" of TBTF financial institutions. This apparently justifies more positions for "revolving door" bureaucrats who will conveniently look the other way while new risks pile up at these institutions. They will then move to cushy jobs at these same insitutions.

This is a Rube Goldberg contraption perfectly consistent with all of our most cynical expectations. END THE FED.

 

Tue, 10/21/2014 - 15:00 | 5360338 yogibear
yogibear's picture

The Fed is that legal treasonous organization that steals from the 99%.

Tue, 10/21/2014 - 15:01 | 5360340 johnnylb
johnnylb's picture

The central bank can afford to pay unlimited amounts to their employees.  It's not like they have to aquire the money to do it.  They simply find a keyboard and with a few strokes, presto! Payroll is funded!

 

Tue, 10/21/2014 - 15:00 | 5360341 anachronism
anachronism's picture

I am sure that all of these 113 super-heroes of the Federal Reserve truly believe that they are actually offering their services to the country -doing God's work all the time (courtesy of Lloyd Blankfein)- at a substantial discount to what the will earn whenever (if ever) they leave the FED. Common folk cannot appreciate how specialized they are, nor the sacrifces thay are making for the benefit of ....

Tue, 10/21/2014 - 15:01 | 5360344 Infinite QE
Infinite QE's picture

They need to be outsourced to Fedex Office, India.

Tue, 10/21/2014 - 15:04 | 5360351 SoDamnMad
SoDamnMad's picture

$27,855,178. down the drain.

Tue, 10/21/2014 - 15:05 | 5360357 LawsofPhysics
LawsofPhysics's picture

Name names motherfucker.

Tue, 10/21/2014 - 18:04 | 5361085 SuperRay
SuperRay's picture

and addresses...

Tue, 10/21/2014 - 15:06 | 5360358 TVP
TVP's picture

I'm guessing that their annual salaries amount to peanuts when you consider the moolah they can make on insider trading.  

And who knows what kind of payoffs they receive from priting trillions and giving them to overseas banks...

And when asked who exactly those Federal Reserve Notes were sent to, just pull a Bernanke and say... "Um, NO."  

Tue, 10/21/2014 - 15:05 | 5360359 world_debt_slave
world_debt_slave's picture

it's not Federal and not a Reserve, it is EVIL

Tue, 10/21/2014 - 15:07 | 5360360 Tsar Pointless
Tsar Pointless's picture

Now, Tyler. Trying to incite a class war, are we? These people are successful and they are the job creators. We need to emulate, not denigrate, them. If we all work hard and sacrifice, someday, we will all make $250,000/year.

That's Million Dollar Bonus good, no?

Tue, 10/21/2014 - 16:36 | 5360714 The9thDoctor
The9thDoctor's picture

No.

Tue, 10/21/2014 - 15:07 | 5360364 Bell's 2 hearted
Bell's 2 hearted's picture

the $250K puts them in top 2% income wise

 

surely, they'll make decisions to benefit the lower 98% ... and not their (7 figure?) stock portfolio ...

Tue, 10/21/2014 - 15:09 | 5360374 aliki
aliki's picture

brought to you from the same DNA-stranded clowns that are monetizing debt on this side of the pond (this article/topic not being mentioned on CNBC today:

Euro-Area Debt Swells as Governments Strive to End Crisis

http://www.bloomberg.com/news/2014-10-21/euro-area-debt-swells-as-governments-strive-to-end-crisis.html

Tue, 10/21/2014 - 15:11 | 5360377 aliki
aliki's picture

oh, and our fed-heads are making $251,000 too much at current average rates.

Tue, 10/21/2014 - 15:12 | 5360385 SheepDog-One
SheepDog-One's picture

Good perspective headline over at CNBC right now- 'DOW Flirts With Turning Positive For The Year' here with 2 months left in the year....big fuckin deal.

Tue, 10/21/2014 - 15:13 | 5360386 Bastiat
Bastiat's picture

I remember looking at a position advert for the Fed about 10 years ago and thinking:  hmmmmm, if they found out what I really think, I might have an "accident" . . . or alternatively, I might end up tarred and feathered by an angry mob. . . . so maybe not.  Needed a job then too.

Tue, 10/21/2014 - 15:14 | 5360390 p00k1e
p00k1e's picture

250K isn't much.

Here in The D the 'Detroit Institute of Arts" (DIA) director, Graham Beal, is compensated $514,000 annually.  And that’s in a BK’d city.  

Tue, 10/21/2014 - 16:38 | 5360729 The9thDoctor
The9thDoctor's picture

Detroit Institute of Arts is probably one of Detroit's only assets on their books.

Tue, 10/21/2014 - 16:41 | 5360751 p00k1e
p00k1e's picture

I don't know where to unload priceless art.  Russia??   What’s a used Van Gogh go for in Russia? 

Tue, 10/21/2014 - 15:16 | 5360395 Catullus
Catullus's picture

All that for typing in zeroes and pressing enter.

Tue, 10/21/2014 - 15:17 | 5360400 syntaxterror
syntaxterror's picture

 

Godz werk ain’t cheap.

Tue, 10/21/2014 - 15:18 | 5360406 yogibear
yogibear's picture

The Fed can be paying all their employees miliions per year. All they have to do is have to do is print.

It would be more stimulating than QE. Some poor Fed employee going from $80,000/yr to $1,000,000/year would definitely go out and spend.

Tue, 10/21/2014 - 16:38 | 5360732 The9thDoctor
The9thDoctor's picture

Isn't that socialism though?

/sarc

Tue, 10/21/2014 - 16:46 | 5360774 Postal
Postal's picture

Only once: If I had that kinda windfall, I'd spent most of it on hookers and blow... and waste the rest.

Tue, 10/21/2014 - 15:21 | 5360420 divedivedive
divedivedive's picture

Just how many Fed Reserve staff members are there ?

Tue, 10/21/2014 - 15:26 | 5360437 jacship
jacship's picture

Dream Job

Accountable to none

Tue, 10/21/2014 - 15:47 | 5360517 bluskyes
bluskyes's picture

Don't be so sure.

Tue, 10/21/2014 - 15:26 | 5360443 dizzyfingers
dizzyfingers's picture

Moar banker suicides please.

Tue, 10/21/2014 - 15:34 | 5360465 agstacks
agstacks's picture

are they allowed to trade on inside information like congress?

Tue, 10/21/2014 - 15:35 | 5360473 Bear
Bear's picture

Damn ... this is good news; I thought that they made at least a million a year.

Question: Are they allowed to trade eminis?

Tue, 10/21/2014 - 15:51 | 5360531 TrustbutVerify
TrustbutVerify's picture

And how long do they have to work before they can retire?  And with what level of retirement benefits? 

Tue, 10/21/2014 - 15:52 | 5360536 netpounder
netpounder's picture

Turn Rikers Island into the new Fed.  They take no salary and do a better job stealing.  They own a whole island too.

Tue, 10/21/2014 - 16:04 | 5360581 baldski
baldski's picture

The Fed is a private corporation. They can pay what they want to.

Tue, 10/21/2014 - 16:04 | 5360582 baldski
baldski's picture

The Fed is a private corporation. They can pay what they want to.

Tue, 10/21/2014 - 16:18 | 5360640 nakki
nakki's picture

1 trillion dollars a year would get you 4 million $250k per year jobs. Looks like they're 3,999,987 short.

Tue, 10/21/2014 - 16:23 | 5360669 fibonacci's claus
fibonacci's claus's picture

if artificial intelligence programs are running the algos and reading the news stories why do these peanut heads even still have a job !!! 

america needs to get rid of three quarters of these dead weight entitled govt employees!  we need to pass laws and take the guns away from the militarized beaurocracys.  and then fire THREE QUARTERS of them! 

and these bankers all need to be fired!  now a days you walk into a bank and they tell you you can't have your money.  after an hour and quarter inch of paper work you finally get to withdraw your eight grand cash!  awa ta foking joke!  whose money is it!?  who do they think they are!?  bunch a faget coke heads who wrecked the foking economy and in bed with the criminal govt!

Tue, 10/21/2014 - 16:42 | 5360748 The9thDoctor
The9thDoctor's picture

It's coming. The governments of the world will be replaced with AI supercomputers, and their software will micromanage all resources.

Tue, 10/21/2014 - 16:34 | 5360706 orangegeek
orangegeek's picture

Q:  as money grubbing pigs, how do you separate janet yellen from nancy pelosi?

 

A:  with a crowbar - carpet muching ditch pigs

Tue, 10/21/2014 - 16:58 | 5360834 Duc888
Duc888's picture

 

 

I must confess I’m a little unimpressed.  When you own the printing presses you should be able to do better than 250K.  That's actually embarrassing...

Tue, 10/21/2014 - 17:08 | 5360874 nakki
nakki's picture

Think about 20 million $50k per year jobs. That's 1 trillion dollars a year. How is it that not one person (that I know of) has ever as Ben or Janet if they were so worried about jobs why doesn't the FED hire more people. The FED is private corporation, after all. Think about all those jobs, creating other jobs, taxes, and most importantly for the FED inflation. Just a thought. I guess to a certain extent the FED do exactly that, however they just flipped the numbers. $20 million a year for 50,000 people doesn't make it socialism.

Tue, 10/21/2014 - 19:13 | 5361346 ersatz007
ersatz007's picture

+1

Tue, 10/21/2014 - 17:34 | 5360987 hangemhigh77
hangemhigh77's picture

does that count the hundreds they stuff in their pockets when they come up from the cellar after getting their lunch in the fridge next to the printing machine?

Tue, 10/21/2014 - 18:14 | 5361130 yellowsub
yellowsub's picture

If live in a shitty, crooked state similar to NJ then take a look at your muni's public records and see that is worse than this comparably speaking.

Tue, 10/21/2014 - 18:25 | 5361184 thtmnbhndthecrtn
thtmnbhndthecrtn's picture

It's a private company. They can pay what they want. Pay attention to over-the-top salaries in the Federal Government instead.

Tue, 10/21/2014 - 18:31 | 5361212 illadeljim
illadeljim's picture

Human Resources assistants have salaries starting at 65k! You work 20 years, get tons of overtime for very little work, hire your friends and relatives, get the most generous benefits, retire with a huge golden parachute and pay no taxes on your pension -- damn, it's good to be a thief in the King's Court.

Wed, 10/22/2014 - 12:10 | 5363768 yellowsub
yellowsub's picture

That's every muni and state gov't worker in a union.

Tue, 10/21/2014 - 19:11 | 5361339 ersatz007
ersatz007's picture

yeah - but didn't you hear on CNBC this morning - the CEOs at the big banks got a 'dressing down' by the President of the NY Fed regarding bonus compensation?  So don't you realize how much the Fed is looking out for us?  HaHa.  More like:  "y'all need to chill a little on the bonuses, otherwise the general public comin' after all of us with pitchforks!"  

Tue, 10/21/2014 - 22:28 | 5361970 AdvancingTime
AdvancingTime's picture

Not necessary, I already had enough reasons to dislike the thieving Federal Reserve.

Wed, 10/22/2014 - 12:44 | 5363924 chinaboy
chinaboy's picture

hedge fund pay.

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