Word: feldstein
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Thomas Schlesinger, executive director of Financial Markets Center—a nonprofit research group that specializes in the Federal Reserve—said that the Bush administration may be reluctant to choose Feldstein because of the administration’s desire to distance itself from anything that might be seen as corporate scandal...
...recently as a few months ago, Baker Professor of Economics Martin S. Feldstein ’61 was the hands-down favorite to become the nation’s next Federal Reserve chairman when Alan Greenspan retires next year. But in recent months, pundits and online gamblers alike have started putting their money on different candidates as details of a scandal at the American International Group, Inc. (AIG) unfold...
...Feldstein currently sits on AIG’s 18-member board of directors, a post he has held since 1988. He is also a member of the board’s finance committee...
...Feldstein declined to comment for this story...
...although Feldstein has not been linked to the accounting practices in question, some say his mere association with the company may hurt his chances of securing the Federal Reserve chairmanship...