21–30 of 132 posts
That many people find this acceptable is disconcerting. We have a revolving door system whereby the top regulator knows they will get a nice payout by the regulated after their days of regulating end. Clinton’s Secretary of Treasury got a very high paying job after his repeal of Glass-Steagall and the Clinton’s themselves were richly rewarded by Wall Street. Therein lies one of the curses of wealth inequality. Humans…
That many people find this acceptable is disconcerting. We have a revolving door system whereby the top regulator knows they will get a nice payout by the regulated after their days of regulating end. Clinton’s Secretary of Treasury got a very high paying job after his repeal of Glass-Steagall and the Clinton’s themselves were richly rewarded by Wall Street. Therein lies one of the curses of wealth inequality. Humans…
No, it's a personal failing. Janet Yellen could have told them to fly a kite.
Whenever I see a politician or regulator arrested for accepting bribes, I think, what an amateur. American elites have perfected the art of the grift: do a turn in government or academy, and then become a ‘thought leader’ or form an NGO and collect speaking fees from Wall Street and foreign powers. Wait for your party to get back in power, do another round in government, rinse and repeat. Even the Presidency and Prim…
So did Hillary Clinton and I’m sure Yellen is just as uninfluenced by them as she was.
Anyone who thinks that people (on either side of the political aisle) are not influenced by big-money payouts, does not understand human nature. Corporations would not offer these kinds of payments in the form of 'speaking fees' if they didn't think it would influence decision makers.
What the OP alleges [1] Hillary did is crooked and corrupted by any reasonable standard, if not illegal; which says more about out laws than or does redeem the corrupt.
[1] "alleges" because I don't want to start something. Everyone on the forum knows where they stand on the Clintons.
It's obvious that once you become a high-ranking politician (especially President, VP, or a similar high-level position), wealth awaits you once you leave office. What's then the incentive to serve the people if you know that you'll make enough money to not give a damn once your tenure is over?
1- https://www.vox.com/culture/2017/3/2/14779892/barack-michell...
Citicorp and Travelers group merged in 1998, officially violating Glass-Steagall, which was law at the time. Robert Rubin, former chairman of Goldman Sachs, was Treasury Secretary at the time. Once the repeal was passed 1999, he resigned from treasury and joined Citi the same fuckin year as a consultant and director. Between 1999 and 2009, he made ~$120 million.
For more on the influence and corruption of the financial services industry see Inside Job. [1]
Policy-makers and politicians can be bought cheaply. They are, and always will be, commodities.
That's the lesson here.
What makes it worse: They always try to give lessons to the rest of the world, but meh.
The result is here: Record homeless Americans, drug addicts in the streets, health crisis, education crisis, while the ruling elite (it's even more hypocritical when it's the left like Yellen) gets even richer. Time for a revolution maybe.