I would consider this faux controversy because exactly what kind of person would be a better steward of these decisions. The "revolving door" is funny to see how ridiculous it can get, but really who of the citizenry would be better prepared to steward these organizations? What exactly would the pedigree of that person look like?
The Fed was ALWAYS going to be forced to buy corporate debt as it expanded the universe of eligible assets. This was predictable no matter who at the Treasury negotiated with the Fed that "the time is now".
To me, the only controversy would be the tax implications of the sham transfer of his stakes in his company. But actually, we don't even know if they neglected the taxes and it probably isn't a real issue for them as they'll just report it and try to offset the tax footprint just like everyone else.
If it wasn't corporate debt, it would be mortgage backed securities, or leverage up on treasury bonds, or even higher leverage on currencies. There are always information asymmetries and that isn't controversial, except in single issues of companies in the securities market.