Karma is a bitch. Just ask Glenn Hubbard.
A few months ago, the Dean of Columbia’s business school was a leading economic advisor to Mitt Romney and a rumored (perhaps even consensus) candidate for the Treasury Secretary job.
Now Romney’s out of the presidential picture and Hubbard – well, he’s just yet another grasping jobholder who’s been exposed as a paid mouthpiece in a court proceeding.
Anyone who’s seen the movie Inside Job will recall the stupendously angering scene in which Hubbard pissily snaps at his interviewer for asking about his outside relationships with the financial services industry.
In the movie, renowned filmmaker Charles Ferguson pointed out that, among other things, Hubbard had co-authored a paper with former Goldman chief economist William Dudley in which he praised credit derivatives as having improved the “allocation of risk” and helped produce “enhanced stability."
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A few months ago, the Dean of Columbia’s business school was a leading economic advisor to Mitt Romney and a rumored (perhaps even consensus) candidate for the Treasury Secretary job.
Now Romney’s out of the presidential picture and Hubbard – well, he’s just yet another grasping jobholder who’s been exposed as a paid mouthpiece in a court proceeding.
Anyone who’s seen the movie Inside Job will recall the stupendously angering scene in which Hubbard pissily snaps at his interviewer for asking about his outside relationships with the financial services industry.
In the movie, renowned filmmaker Charles Ferguson pointed out that, among other things, Hubbard had co-authored a paper with former Goldman chief economist William Dudley in which he praised credit derivatives as having improved the “allocation of risk” and helped produce “enhanced stability."
Read Full Article>>>