Stanley Fischer is a Mensch

He also has some quieter virtues: this is a man, after all, who just won a 70% pay hike at the Bank of Israel for his successor. He felt the higher pay was necessary to attract good future candidates for the job, but thought it would be bad form if he himself accepted it.

2 comments on “Stanley Fischer is a Mensch

  1. What a contrast to McLoon who decreased his Successor’s salary by £50,000 a year.

  2. He is a mensch for acting in the interests of his colleagues and friends? In the interests of his class? Well I suppose a case could be made. But not before we knew more about his motivations and subsequent choices. Is he going to take up another post somewhere else, also funded by tax payers dollars, where a similar “you scratch my back and I’ll scratch yours” approach works?

    Ultimately we have to know if the raise was justified. How was the Bank of Israel working under the old salary scheme? Fairly well from what I can see. So why the need for a raise?

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