This page has been archived and commenting is disabled.

The Latest Revolving Door Farce: Bernanke, Trichet And Gordon Brown To Form Pimco Advisory Board

Tyler Durden's picture




 

The public-to-private sector "revolving door" has crossed into the macabre twilight zone.

Moments ago an announcement by giant bond manager (technically, these days "merely above average height" bond manager, considering the collapse in the TRF's AUM since Bill Gross' departure over a year ago) revealed that public service cronyism is not only alive, but has never been better, when in a press release it reported that former Fed Chairman Ben Bernanke, ex-U.K. Prime Minister Gordon Brown, and former ECB president Jean-Claude Trichet will form the backbone of a "global advisory board" at Pimco.

Bernanke, Trichet and Brown, along with Ng Kok Song, former chief investment officer of Singapore’s GIC Pte, and Anne-Marie Slaughter, an ex-director of policy planning for the U.S. State Department, will provide Pimco their “collective view on global economic, political and strategic developments and their relevance for financial markets,” the Newport Beach, California-based firm said in a statement Monday.

Translation: PIMCO is absolutely clueless how to trade in these centrally-planned markets and is hoping that those who created said "markets" can share some insight on how to actually generate some profits instead of suffering 14, or is it 15 consecutive months of PIMCO Total Return Fund capital outflows, where the Bill Gross departure may have been the worst thing to ever happen to the Newport Beach-based bond fund.

Which should make one wonder: in hopes of landing such lucrative 7 - 9 figure private sector jobs with funds like Pimco and Citadel, just who are public sector employees working for?

 After all, they know they have to make a favorable impression on their future employers (read: make them lots of money) which is only possible at the expense of taxpayers, so just when will the taxpaying public rise up and ask how much longer will this farce of a "public servant" serving the public instead of their future very private sector employees, continue?

For now, these three are praying that nothing happens to the corrupt status quo that will soon generate them millions in wages.

 

Here is the press release:

PIMCO Creates Global Advisory Board Of Five Leading Global Economic and Policy Experts

PIMCO, a leading global investment management firm, has retained five world-renowned experts on economic and political issues to form a PIMCO Global Advisory Board. The Board members will contribute their insights to the firm on global economic, political, and strategic developments and their relevance for financial markets. The members of the Board are Ben Bernanke (who will serve as chairman), Gordon Brown, Ng Kok Song, Anne-Marie Slaughter and Jean-Claude Trichet.

The Board will meet several times a year at PIMCO’s Newport Beach office as well as at other PIMCO offices around the world. The members will also attend the firm’s annual Secular Forum in May of each year, where PIMCO’s investment professionals discuss the economic outlook and its implications for markets over the next three to five years. Together, the Board members will contribute their economic, geopolitical, and market expertise and insights to the firm’s investment process.

The Global Advisory Board members:

  • Ben Bernanke , former Federal Reserve Chairman and scholar at the Brookings Institution.
  • Gordon Brown , former U.K Prime Minister and former Chancellor of the Exchequer.
  • Ng Kok Song, former Chief Investment Officer of the Government of Singapore Investment Corporation (GIC).
  • Anne-Marie Slaughter , President and CEO of New America, Bert G. Kerstetter '66 University Professor Emerita of Politics and International Affairs at Princeton University, and former Director of Policy Planning for the U.S. State Department.
  • Jean-Claude Trichet, former President of the European Central Bank and present chairman of the European group of the Trilateral Commission.

“The Global Advisory Board is an unrivalled team of macroeconomic thinkers and former policymakers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer.

“Sharing insights on how global macroeconomic and geopolitical policy affects markets and investments is an important part of the value we bring to investors as stewards of their assets, so our clients will benefit greatly from the experience and insight the Global Advisory Board will provide to us,” said Douglas Hodge, PIMCO’s Chief Executive Officer.

Dr. Bernanke, Chair of the PIMCO Global Advisory Board and senior advisor to the firm, said: “I am honored to chair a Board of individuals I hold in the highest esteem. We are all excited by the opportunity to provide PIMCO’s strong team of investment professionals with our collective view on how global economic, political, and strategic developments will affect markets and PIMCO’s clients.”

* * *

And since we can only assume Bernanke will retain his existing job at Citadel we wonder: will he high frequency frontrun the retail public's purchases in the S&P on even numbered days, while spoofing the German 2 Year Bund further into record negative territory on odd days?

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 12/07/2015 - 17:42 | 6889799 Kaiser Sousa
Kaiser Sousa's picture

DEATH TO THE MONEYCHANGERS.

Mon, 12/07/2015 - 17:43 | 6889807 InjectTheVenom
InjectTheVenom's picture

Buck Fernanke

Mon, 12/07/2015 - 17:45 | 6889819 Soul Glow
Soul Glow's picture

PIMCO wants advice from Brown and Bernanke and Trichet?  The guys that created the financial meltdown of 2008?

The world's gone mad.

Mon, 12/07/2015 - 17:45 | 6889823 NidStyles
NidStyles's picture

They must be trying to run a scam of some sort.

Mon, 12/07/2015 - 17:55 | 6889878 knukles
knukles's picture

I'm absolutely sure that addition of academia oriented practical world fuckups will decidedly enhance PIMPCO's stellar returns.
Gordie Boi will be especially handy on gold market strategies.

Mon, 12/07/2015 - 18:17 | 6890012 NotApplicable
NotApplicable's picture

"So experts, have we paid you enough in order for us to join the Front-Runners Club now?"

Mon, 12/07/2015 - 18:36 | 6890113 The Pope
The Pope's picture

I doubt that PIMPCO has any phys Au to sell at rock bottom prices. So does this mean? Oh Wait!

Tue, 12/08/2015 - 00:15 | 6891925 Derezzed
Derezzed's picture

Anne-Marie Slaughter ... you can't make that up !

Mon, 12/07/2015 - 17:51 | 6889858 two hoots
two hoots's picture

 

Meltdown proft team.  They have the experience on where the money can be made and connections to when.

 

Need a Rubicon law.

  

Mon, 12/07/2015 - 17:52 | 6889870 Sudden Debt
Sudden Debt's picture

Maybe pimpco hired them for advise so they can take the other side from their advice?

It will almost be a 99% win if they do it like that!

Mon, 12/07/2015 - 17:54 | 6889877 EscapeKey
EscapeKey's picture

entirely appropriate - pimco made out like bandits

 

fuck gordon brown

Mon, 12/07/2015 - 21:52 | 6891297 RiverRoad
RiverRoad's picture

Were they rejected by the Carlyle Group??!!

Mon, 12/07/2015 - 17:57 | 6889843 algol_dog
algol_dog's picture

The American dream in the 21st century.

Mon, 12/07/2015 - 17:59 | 6889901 Butter_cup
Butter_cup's picture

Check this legitimate ways to mak? money from home, working on your own time and being your own boss... Join the many successful people who have already used the system. Only reliable internet connection needed, no prior experience neccessary, that's why where are here. Start here... www.wallstreet34.com

Mon, 12/07/2015 - 18:18 | 6890019 NotApplicable
NotApplicable's picture

OMG, WHERE HAVE YOU BEEN ALL OF MY LIFE?!?!?!??!

Mon, 12/07/2015 - 18:28 | 6890074 THE COIN
THE COIN's picture

They all look like Joe Pesci at the end of " My Cousin Vinny ", waiting for the handcuffs to be put on.

Mon, 12/07/2015 - 18:35 | 6890111 Osmium
Osmium's picture

I was thinking of Larry, Curly, and Moe.

Mon, 12/07/2015 - 19:13 | 6890350 The Pope
The Pope's picture

I was thinking of whatever gay porno movie was made where 3 dudes line up to take donkey dicks up their asses. I'm not sure, but there must be one rolling around somewhere.

Mon, 12/07/2015 - 17:42 | 6889801 DetectiveStern
DetectiveStern's picture

They got Gordon Brown in for his eye for detail.

Mon, 12/07/2015 - 17:42 | 6889802 Bill of Rights
Bill of Rights's picture

No shit, looks like easy money to me.

Mon, 12/07/2015 - 17:42 | 6889803 Sudden Debt
Sudden Debt's picture

Sick.

Mon, 12/07/2015 - 17:43 | 6889808 NoDebt
NoDebt's picture

They're not even trying to hide the corruption any more.

Mon, 12/07/2015 - 17:53 | 6889855 Rainman
Rainman's picture

+1 ...funny thing is Pimpco thinks these old gangsters will enhance their reputation.

Mon, 12/07/2015 - 18:13 | 6889951 LawsofPhysics
LawsofPhysics's picture

Correct, the other glaring message I see is when it comes to the rule of law and security is that we are all on our own. Welcome back your fuedal lords and the rule of man...

Mon, 12/07/2015 - 18:19 | 6890028 NotApplicable
NotApplicable's picture

IOW, same as it ever was.

Mon, 12/07/2015 - 17:43 | 6889811 Soul Glow
Soul Glow's picture

I don't know weather to laugh or cry anymore.

Mon, 12/07/2015 - 17:50 | 6889853 Sudden Debt
Sudden Debt's picture

Who better to trust a trillion in pension savings to...

Mon, 12/07/2015 - 17:44 | 6889813 Martin T
Martin T's picture

From Macro Man on Twitter: "PIMCO hires new advisors Bernanke for housing calls, Trichet for ideal policy modelling, and Gordon Brown for advice on trading gold"

Mon, 12/07/2015 - 17:50 | 6889850 LawsofPhysics
LawsofPhysics's picture

Holy shit!  Un fucking believable!  Must really be some good porn over at the SEC because they won't even bat an eye!

roll the mother fucking guillotines already!

Mon, 12/07/2015 - 17:51 | 6889861 PhiBetaZappa
PhiBetaZappa's picture

PIMPCO not PIMCO.

Mon, 12/07/2015 - 17:56 | 6889873 Lumberjack
Lumberjack's picture

William Banzai 7 will have a field day with this...

Mon, 12/07/2015 - 18:00 | 6889909 knukles
knukles's picture

They worship Mammon

Mon, 12/07/2015 - 18:03 | 6889926 Lumberjack
Lumberjack's picture

Looks like they are televangelists giving Al the spirit.

 

http://www.leif.org/research/Al-Gore-Receives-News-Global-Warming-has-St...

 

Mon, 12/07/2015 - 17:55 | 6889883 fiftybagger
fiftybagger's picture

Fox meet Henhouse :-)

Mon, 12/07/2015 - 18:02 | 6889922 Yen Cross
Yen Cross's picture

  Are you sure that isn't the NAMBLA Board of Directors?

Mon, 12/07/2015 - 18:15 | 6890005 falak pema
falak pema's picture

<Return of the dirty dozen... oops, they think they are the remains of the magnficent seven...My Bad!

What a Calamity Jane Brigade these scions of assholia incarnate.

Mon, 12/07/2015 - 18:16 | 6890008 will ling
will ling's picture

wish it were possible to round -up, try and hang all in one day.

Mon, 12/07/2015 - 18:25 | 6890059 NotApplicable
NotApplicable's picture

Anne-Marie Slaughter looks to be an interesting person. She wrote the legal justifications for all of Hitlery's games in Libya.

https://en.wikipedia.org/wiki/Anne-Marie_Slaughter

Mon, 12/07/2015 - 18:27 | 6890065 GRDguy
GRDguy's picture

This is just a way of paying them to keep their mouths' shut about who they really answered to when they did all their past financial damage. 

Mon, 12/07/2015 - 18:27 | 6890067 Mark Mywords
Mark Mywords's picture

"Look! - a Muslim!" [Quick getaway by financial terrorists]

Mon, 12/07/2015 - 18:36 | 6890118 huggy_in_london
huggy_in_london's picture

Seriously, they should have hired Huey, Dewey and Louie ... they'll get better results....

Mon, 12/07/2015 - 18:43 | 6890158 Raul44
Raul44's picture

Trichet was actually ok, tried to push governments instead of easy stimulus. They hated him for that, including his own France. Also was unique for French to stick to "hard" money idea. Bernanke on the other hand... we all know.

Mon, 12/07/2015 - 18:50 | 6890194 smacker
smacker's picture

"Gordon Brown To Form Pimco Advisory Board"

ROTFL.

Brown the Clown couldn't advise someone on how to get out of a paper bag.  He's a gold-plated buffoon and unfit to be in any office.

Mon, 12/07/2015 - 18:51 | 6890200 NuYawkFrankie
NuYawkFrankie's picture

Should change its name to PIMPco.

Mon, 12/07/2015 - 18:58 | 6890237 logicalman
logicalman's picture

I think the elites are now openly taking the piss.

Tom Lehrer said satire had become obsolete when Kissinger won the Nobel Peace Prize.

I think Obama receiving one confirmed that.

Here is more proof.

YCMTSU.

Mon, 12/07/2015 - 19:02 | 6890278 commoncourtesy
commoncourtesy's picture

Flash Gordon...saves the world. Oops! I smell something Brown...c o r r u p t i o n

Tue, 12/08/2015 - 09:00 | 6892657 smacker
smacker's picture

You can listen to Brown "saving the world" right here:

"Gordon-Brown-Saves-The-World.mp3"

Mon, 12/07/2015 - 19:14 | 6890361 JamaicaJim
JamaicaJim's picture

NO mention of Corzine...hmmmmm

 

Muhammed El Arian.....hmmmmmmm

 

 

Mon, 12/07/2015 - 20:18 | 6890739 BiPolarFrenchman
BiPolarFrenchman's picture

Quid Pro Quo is the name of the game today, folks

Mon, 12/07/2015 - 20:33 | 6890834 silverer
silverer's picture

They should all be put on the no-fly list.

Mon, 12/07/2015 - 21:37 | 6891223 Tarshatha
Tarshatha's picture

Revolving Jews and obidient Goyim.

 

Mon, 12/07/2015 - 21:42 | 6891246 tarabel
tarabel's picture

 

 

This is really quite alarming. Three ex-rulers for the price of one.

Deflation is definitely headed our way.

Mon, 12/07/2015 - 23:05 | 6891672 damicol
damicol's picture

Want to know why the world is the way it is.
There's your answer, a fucking megalomaniacal bath house trolling promiscuous disease raddled faggot Kenyan monkey in charge and three of the worlds most corrupt thieving lying psychopathic criminal cunts ever born of genetically corrupt bitches running your investments.

And if the fund doesn't implode in the next 24 hours from withdrawals you know, you KNOW people are stupid beyond comprehension.

Do NOT follow this link or you will be banned from the site!