If the financial industry is doing things so complicated that they cannot be policed, then they should be made to define their actions so that they CAN be policed, or their actions should be illegal.
If the financial industry is doing things so complicated that they cannot be policed, then they should be made to define their actions so that they CAN be policed, or their actions should be illegal.
"People like [the Democratic appointees] Rubin, Summers, Patterson, and Gensler shuffle back and forth between the public and private sectors, taking turns as needed with their GOP counterparts. When in government, they ensure that laws and regulations are written to redound directly to the benefit of a handful of Wall Street firms, abolishing most regulatory safeguards that keep those behemoths in check. When the electoral tide turns against them, they return to those very firms and collect millions upon millions of dollars, profits made possible by the laws and regulations they implemented (or failed to implement) when they were in charge. Then, when their party returns to power, back they go into government, where they use their influence to ensure that the cycle keeps on going."
And if you don't care for a 9–5 back at your old bank, or your party holds the presidency for too long and you're kinda strapped for dineros, you just ask for a reassignment with a short period of unemployment. During the sabbatical, you visit your Wall Street office for a few hours, collect a "speaking fee"[1], and take a holiday. When you come back, infused with vitamin D and liquidity, your lesser-minded colleagues may think you never left or (gosh!) took a bribe.
[1] http://americablog.com/2013/07/tim-geithner-speaking-fees-go...