Opinion

Felix Salmon

Buiter comments

By Felix Salmon
December 1, 2009

I am pleased, proud and honoured that Willem Buiter has chosen the comments section of my blog to make what is as far as I know his first public statement since being appointed Citigroup’s chief economist:

I joined Citi for two reasons. First, because Citi is the one truly global bank. Second, because Citi is an institution that, following its challenges during the global financial upheaval of late 2008 – early 2009, changed course resolutely and radically to return to its core strengths: global commercial banking, financial infrastructure services and investment banking.

The global scope of Citi’s activities and its presence in every systematically important asset market mesh very well with my long-standing interest in open economy macroeconomics and in the joint determination of economic activity, inflation and asset prices and rates of return.

I am pleased, proud and honoured that this Citigroup has appointed me its Chief Economist.

It is a little bit odd that Buiter gave no indication on his blog that he ever saw Citigroup in such a fine light — but I’m encouraged by his popping up in the blogosphere like this, and hold out a tiny bit of hope that his trademark very long blog entries might yet continue largely unabated.

On the other hand, I’m not holding out that much hope. This statement doesn’t sound particularly candid, and Citi doesn’t like any of its employees going too far off the reservation. My guess is that Buiter’s writing is going to be mostly confined to Citi research papers from now on.

Update: Buiter leaves his FT perch.

I will continue to write and publish fast and furiously and to speak out in public on the issues of the day. I plan to contribute regularly again to Martin Wolf’s Economists Forum, to write columns left, right and centre and perhaps even to start another blog. But it won’t be Maverecon because it cannot be Maverecon.

Comments
4 comments so far | RSS Comments RSS

Perhaps he’ll be making a few quid from his previous quo? Financial bloggers have been known to get some plum jobs here and there after putting in a few years of solid service.Did you read his posts religiously? In the aggregate, do they point to a central theme? (Besides raw “globalism”?)Lord Professor Buiter? Reward?

 

Yes we are pleased to read at least an answer… Yet he should have explained more and perhaps be transparent in his payslip and bonuses?If Buiter’s writing is going to be mostly confined to Citi research papers from now on, I really would like to know what he thinks of plutonomy. If he advises the Global Investment Committee it will be interesting to read his research on investment strategy.You can reconcile everything in life but perhaps he cannot continue to write a blog in the way he did it and we liked it.Perhaps we will miss him but frankly speaking I think he jumped on the other side.

 

“I joined Citi for two reasons.”He’s doing it for free?! What a tremendously public spirited man he is.By the way the blog is gone, he’s just put a post up.

Posted by Matthew | Report as abusive
 

He will be paid enough to stop criticizing his new employer and its system.

 

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