Transcript Some Salaries • Chairman of the Federal Reserve Bank: $133,600. • CEO of the Bank of Boston: $2,989,832. • Fed executive in charge of custodial services:

Some Salaries
• Chairman of the Federal
Reserve Bank: $133,600.
• CEO of the Bank of Boston:
$2,989,832.
• Fed executive in charge of
custodial services: $163,800.
• Lowest-paid President of one
of the twelve regional Federal
Reserve Banks: $177,550.
The Four P’s Plus One
• Marketing: Price, Promotion,
Place, Product
•
•
•
•
•
Policy: the result
Pride: reputation for talent
Place: honor from rank
Power: ability to affect results
Principle: trying to do right
• For: Central Bankers, Judges,
Politicians
• (Pecunia, too!)
LAW ANALOGY
• Principal-Agent Paradigm:
The Principal father tells the
Agent friend to keep $ 2 million
for his son.
• Trust Paradigm: The Settlor
father draws up a Trust under
which the Trustee friend
controls $2 million on behalf of
his Beneficiary son.