The revolving door connecting regulators and Wall Street certainly isn't slowing down. Earlier this month, we learned that former Office of Management and Budget chief Peter Orszag was going to Citigroup. Now, the New York Federal Reserve's derivatives reform head, Theo Lubke, is off to banking behemoth Goldman Sachs. Katya Wachtel from Business Insider explains:
Lubke was in charge of the New York Fed's effort to reform the private derivatives market and immediately succeeded Geithner when he decamped Washington.
Now the bank has hired him as their chief regulatory reform officer in the securities division to help navigate the impending overhaul of financial regulations in the derivatives market.
The role is brand new.
According to Wachtel, his Facebook profile says he likes "adventure sports paired with food and wine." Sounds like he'll be a perfect fit at Goldman.
Read the full story at Business Insider.
We want to hear what you think about this article. Submit a letter to the editor or write to email@example.com.