<story><title>Many who crafted regulations after the 2008 crisis now work for Wall Street</title><url>https://www.washingtonpost.com/business/economy/many-lawmakers-and-aids-who-crafted-financial-regulations-after-the-2008-crisis-now-work-for-wall-street/2018/09/07/50f63a1e-b075-11e8-a20b-5f4f84429666_story.html</url></story><parent_chain><item><author>chollida1</author><text>I mean the man who wrote the CBA for the NHL owners now works for the Toronto Maple Leafs.&lt;p&gt;If you were regulated and you had to hire someone to help you understand what you are and aren&amp;#x27;t allowed to do by these regulations wouldn&amp;#x27;t the first person you look to hire be the person who actually wrote the rules?&lt;p&gt;&amp;gt; Seventeen of the 40 most senior staffers who served on the House Financial Services Committee in August 2008, as well as 15 of the 40 senior staff who served on the Senate Banking Committee at that time, later joined or took jobs representing a large financial institution.&lt;p&gt;So you train for many years and acquire knowledge of a particular area and then what?  You can&amp;#x27;t actually make money from the skill you learned?&lt;p&gt;People get angry when tech companies try to limit people mobility, you really have to work hard to contort your view to see this as being any different.&lt;p&gt;Most governments actually spend alot of  money on programs to get people from private industry to do a year stint with the government and then go back to private industry.  They do this because everyone sees value in people moving from government to private industry.&lt;p&gt;If you are against this what measure would you consider to be fair that doesn&amp;#x27;t limit a person&amp;#x27;s mobility, wrt work, and helps get people who worked in government into private industry.</text></item></parent_chain><comment><author>mikeash</author><text>It’s a major conflict of interest to go from writing the regulations to being paid by the companies you regulated. What if it becomes understood that you get a high salary for an easy job if and only if you write regulations that are favorable to the companies?&lt;p&gt;How do you stop this without limiting fundamental human freedoms? I have no idea. But that doesn’t mean this situation is good or that we should stop pointing out the problems. The lack of a solution does not imply the absence of a problem.</text></comment>
<story><title>Many who crafted regulations after the 2008 crisis now work for Wall Street</title><url>https://www.washingtonpost.com/business/economy/many-lawmakers-and-aids-who-crafted-financial-regulations-after-the-2008-crisis-now-work-for-wall-street/2018/09/07/50f63a1e-b075-11e8-a20b-5f4f84429666_story.html</url></story><parent_chain><item><author>chollida1</author><text>I mean the man who wrote the CBA for the NHL owners now works for the Toronto Maple Leafs.&lt;p&gt;If you were regulated and you had to hire someone to help you understand what you are and aren&amp;#x27;t allowed to do by these regulations wouldn&amp;#x27;t the first person you look to hire be the person who actually wrote the rules?&lt;p&gt;&amp;gt; Seventeen of the 40 most senior staffers who served on the House Financial Services Committee in August 2008, as well as 15 of the 40 senior staff who served on the Senate Banking Committee at that time, later joined or took jobs representing a large financial institution.&lt;p&gt;So you train for many years and acquire knowledge of a particular area and then what?  You can&amp;#x27;t actually make money from the skill you learned?&lt;p&gt;People get angry when tech companies try to limit people mobility, you really have to work hard to contort your view to see this as being any different.&lt;p&gt;Most governments actually spend alot of  money on programs to get people from private industry to do a year stint with the government and then go back to private industry.  They do this because everyone sees value in people moving from government to private industry.&lt;p&gt;If you are against this what measure would you consider to be fair that doesn&amp;#x27;t limit a person&amp;#x27;s mobility, wrt work, and helps get people who worked in government into private industry.</text></item></parent_chain><comment><author>jondubois</author><text>&amp;gt;&amp;gt; If you were regulated and you had to hire someone to help you understand what you are and aren&amp;#x27;t allowed to do by these regulations wouldn&amp;#x27;t the first person you look to hire be the person who actually wrote the rules?&lt;p&gt;That&amp;#x27;s just the kind of story that people tell themselves and others while they&amp;#x27;re making a ton of money by screwing over society; that way not only can people get rich doing horrible things, but they can also look their victims straight in the eyes and smile while they&amp;#x27;re doing it. It&amp;#x27;s a win-win! (in the sense that one side gets to win twice).</text></comment>