Quote:
Originally Posted by GrantMercury
BUT that wouldn't stop them from fucking us over in exchange for cushy industry jobs when they get out - so that would have to be addressed.
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Here's a great example of the 'revolving door'. Phil Gramm was a powerful senator who chaired the Senate Banking Committee.
- He co-sponsored the bill that repealed Glass-Steagall, The Gramm-Leach-Bliley Act (aka the Citigroup Relief Act
)
- He also led the charge on the Commodities Futures Trading Modernization Act, which made it illegal for the govt to regulate derivatives like Collateralized Debt Obligations and Credit Default Swaps. These are the 'weapons of mass destruction' that nuked our economy to the tune of $12+ Trillion.
His gig after leaving office? Vice-Chairman of UBS.
That's how it works....