Dodd-Frank's winners: Revolving-door regulators | Timothy P. Carney | Politics | Washington Examiner

I would only add that this is not limited to democrats, a review of both Bushes and Reagan administrations documents the same behavior.


Comments Dodd-Frank's winners: Revolving-door regulators
By: Timothy P. Carney

House Financial Services Committee Chairman Spencer Bachus (R-AL) adds a grade of F- to a 'report card' for the Dodd-Frank Act one year after the legislation passed July 15, 2011 in Washington, DC. Republican members of the committee gave grades of F to all aspects of the bill.It may not prevent another bailout or protect consumers from dangerous financial products, but the Dodd-Frank financial regulation law -- now one year old -- has already benefited one group of people: the government officials who wrote and implemented the law before cashing out as lobbyists or consultants for Wall Street, hedge funds and big banks.
The top staff lawyers in charge of crafting the legislation in both chambers of Congress have both left Capitol Hill for K Street, as has a Securities and Exchange Commission staffer who helped implement the law. This is "private-sector job creation, Obama-style," as blogger Ira Stoll drolly notes.

The Great Wall Street Cashout is another example of how President Obama's agenda of bigger government -- and congressional Democrats' style of leaving the key details up to executive-branch regulators -- accelerates the revolving door and breeds crony capitalism.

Read more at the Washington Examiner:

http://washingtonexaminer.com/politics/2011/07/dodd-franks-winners-revolving-door-regulators#ixzz1TzZE17tJ