Comments on: Political appointees and the revolving door http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/ A slice of lime in the soda Sun, 19 May 2013 20:32:21 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: SARABELLE10 http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22949 SARABELLE10 Mon, 10 Jan 2011 15:22:33 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22949 The reverse revolving door has not worked out well for middle class constituents of the 5th Congressional District. Our Conressman, Jim Himes, was formerly with Goldman Sachs. After making his piles of cash, he went to work for an affordable housing non-profit. This made him look very attractive to Democratic regulars like myself. After getting elected, however, he joined the corporate friendly New Democrats coalition and became a tool for corporate interests. You can't get a constituent meeting with him now, guess you have to be a hedge fund manager or a lobbyist to get his attention. The reverse revolving door has not worked out well for middle class constituents of the 5th Congressional District. Our Conressman, Jim Himes, was formerly with Goldman Sachs. After making his piles of cash, he went to work for an affordable housing non-profit. This made him look very attractive to Democratic regulars like myself. After getting elected, however, he joined the corporate friendly New Democrats coalition and became a tool for corporate interests. You can’t get a constituent meeting with him now, guess you have to be a hedge fund manager or a lobbyist to get his attention.

]]> By: zinkus http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22908 zinkus Sun, 09 Jan 2011 03:18:50 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22908 So you either need to spend time on Wall Street to afford political office, but by the time you arrive think Wall Street is so ace you won't do anything to touch it or are in political office and counting the days til you get the Wall street gravy so have no reason to touch it either? Not quite catch 22, but it does suggest there are deeply incentivised structures in-place that are going to continue distorting US economic and social policy making for the long-term. As for Hank Paulson vs Gordon Brown re: the Danny Black post, yeah right. Gordo wiped Hank's ass after the Lehman Bros policy catastrophe. So you either need to spend time on Wall Street to afford political office, but by the time you arrive think Wall Street is so ace you won’t do anything to touch it or are in political office and counting the days til you get the Wall street gravy so have no reason to touch it either?

Not quite catch 22, but it does suggest there are deeply incentivised structures in-place that are going to continue distorting US economic and social policy making for the long-term.

As for Hank Paulson vs Gordon Brown re: the Danny Black post, yeah right. Gordo wiped Hank’s ass after the Lehman Bros policy catastrophe.

]]> By: TFF http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22819 TFF Fri, 07 Jan 2011 19:42:22 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22819 Investment bankers enable (and feed off) the flow of capital. The efficiency depends on the owners of the capital. hsvkitty, read up on the court decision out of Massachusetts today. A bunch of foreclosures are thrown into question on procedural grounds. The banks are starting to pay for their sloppiness, and I doubt we have seen the last of it yet. Investment bankers enable (and feed off) the flow of capital. The efficiency depends on the owners of the capital.

hsvkitty, read up on the court decision out of Massachusetts today. A bunch of foreclosures are thrown into question on procedural grounds.

The banks are starting to pay for their sloppiness, and I doubt we have seen the last of it yet.

]]> By: hsvkitty http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22817 hsvkitty Fri, 07 Jan 2011 19:29:53 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22817 Danny_Black This old URL works so much better then anything I might say. http://trueslant.com/matttaibbi/2009/06/08/mean-street-it’s-time-to-enshrine-hank-paulson-as-national-hero-deal-journ Danny_Black This old URL works so much better then anything I might say.

http://trueslant.com/matttaibbi/2009/06/ 08/mean-street-it’s-time-to-enshrine-h ank-paulson-as-national-hero-deal-journ

]]> By: fresnodan http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22815 fresnodan Fri, 07 Jan 2011 19:21:09 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22815 It appears from what I read that the finance sector used to be 7% and apparently now it is consideraly larger ?14%? But if the theory is that investment bankers allocate capital efficiently and effectively - well, it appears that theory has been shot to hell. Was giving loans to people for overpriced houses a good thing? Is there any evidence that investment bankers are allocating capitcal any better than before? It appears from what I read that the finance sector used to be 7% and apparently now it is consideraly larger
?14%? But if the theory is that investment bankers allocate capital efficiently and effectively – well, it appears that theory has been shot to hell. Was giving loans to people for overpriced houses a good thing?
Is there any evidence that investment bankers are allocating capitcal any better than before?

]]> By: Danny_Black http://blogs.reuters.com/felix-salmon/2011/01/07/political-appointees-and-the-revolving-door/comment-page-1/#comment-22806 Danny_Black Fri, 07 Jan 2011 17:28:57 +0000 http://blogs.reuters.com/felix-salmon/?p=6856#comment-22806 We should all be thanking every respective deity that Hank Paulson was Treasury Secretary when this all hit as opposed to say Gordon Brown. We should all be thanking every respective deity that Hank Paulson was Treasury Secretary when this all hit as opposed to say Gordon Brown.

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