The More Things Change...
DECEMBER 30, 2010 by SHELDON RICHMAN
From the Washington Post:
The president’s recently departed budget director is joining Citigroup.
The New York Federal Reserve Bank’s derivatives expert is joining Goldman Sachs.
And numerous investigators from the Justice Department and the Securities and Exchange Commission are joining Wall Street’s top law firms.
The vast overhaul of financial regulations and the renewed intensity of investigations into white-collar crime has been a boon for regulators, prosecutors and financial policymakers looking to cash in on their government experience and contacts.
In recent months, prominent officials from the White House, Justice Department, SEC, banking regulators and other agencies, both federal and state, have been walking through the proverbial revolving door to join Goldman, Citi, other financial companies and top law firms in Washington and New York.
The corporate state is alive and well.