5 of 10
Stability in Iceland
Stability in Iceland
Four months before he was named a Fed Governor in 2006, Frederic Mishkin published a paper on "Financial Stability in Iceland." The Iceland Chamber of Commerce had paid him $124,000 to co-author the report.

Not surprisingly, he had nice things to say about their economy. "The analysis in this study suggests that although Iceland's economy does have imbalances that will eventually be reversed, financial fragility is not high and the likelihood of a financial meltdown is very low."

Iceland's economy collapsed less than a year later.

As depicted in the Oscar-winning documentary "Inside Job," Mishkin's resume mysteriously changed the title of the report to "Financial Instability in Iceland." It has since been changed back. Mishkin resigned from the Fed in 2008 and returned to his position teaching economics at Columbia University.

NEXT: Greenspan's Enron prize
Last updated March 24 2011: 3:05 PM ET
More Galleries
17 cool gadgets that tease the future Smart telescopes, surveillance for dogs, an electric roadster and more from CES 2018. More
These 12 airplane beds let you really sleep on a flight For the price of a premium class ticket, you may just get a space that's comfortable, private, and quiet enough to ensure a good rest. More
CES 2018 kicks off with oddball gadgets The biggest tech show of the year opened with a collection of quirky gadgets. More

Special Offer