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Thursday, September 14, 2006

Fed Governors Assets & Income (2005-2006 Disclosures)

By Yaser Anwar, CSC of Equity Investment Ideas

The Fed's three newest members have made the Federal Reserve's Board of Governors significantly wealthier as a group and widened the already substantial financial gap that exists between America's top economic policymakers and average U.S. households.

In 06, the Fed leaders reported that they held $83.8-$163.1 million in combined assets, up from $18.0-$45.6 million in the previous filing cycle.

People should pay attention to the lucrative pre-appointment consulting activities of new governors Randy Kroszner and Rick Mishkin.

In the year before they were named to the Board, the two former economics professors separately took in fees totaling $263,300 from clients such as American high tech firms fighting a proposed rule on expensing stock options and Icelandic companies attempting to change negative market perceptions of that country's financial condition.

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