When Regulators Go Private

Over the past month, we've heard that the President's former budget director and the New York Federal Reserve's chief derivatives regulator have both joined large banks, Citigroup and Goldman Sachs, respectively. It isn't a new trend for government officials to join precisely the sort of firms that used to help create rules for, but anyone who thought it was slowing was wrong, according to Zachary A. Goldfarb of the Washington Post. He reports on how this trend is as strong as ever. Here's yet another example:

Goldman also has hired David Markovitz, a lawyer who previously was a senior investigator for New York Attorney General Andrew Cuomo. Cuomo launched a number of high-profile Wall Street probes.

Read the full story at the Washington Post.