The Wall Street Journal is reporting the Federal Reserve selected advisers for a new Investor Advisory Committee on Financial Markets.

-Keith Anderson, CIO, Soros Fund Management LLC
-Nicole Arnaboldi, Vice Chairman of Alternative Investments, Credit Suisse Group
-Louis Bacon, Chairman, CEO and Founder, Moore Capital Management LLC
-William Clark, Director, New Jersey Department of the Treasury, Division of Investment
-Mohamed El-Erian, CEO and Co-CIO, Pacific Investment Management Company
-Garth Friesen, Principal, III Associates
-Gary Glynn, President and CIO, US Steel and Carnegie Pension Fund
-Joshua Harris, Managing Partner, Apollo Advisors LP
-Alan Howard, Director and Co-Founder, Brevan Howard Asset Management LLP
-Glenn Hutchins, Co-CEO and Co-Founder, Silver Lake
-Sander Levy, Managing Director, Vestar Capital Partners
-Morgan Stark, Managing Member, Ramius LLC
-Thomas Steyer, Senior Managing Member, Farallon Partners LLC

WSJ notes to avoid conspiracy theories this group won't make policy, but come on, who cares, why have a formal group in that case? Here are the Federal Reserve's other advisers. I suggest reading through the list and that will assuredly having you running to the closet for your tin foil hat.

Catherine Mann for example wrote pure corporate lobbyist insanity, an extremely flawed study, trying to justify the offshore outsourcing of jobs (for McKinsey Institute). We also have AIG listed as an economic adviser.

Naked Capitalism has some more wry comments.