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The SEC Just Hired This Woman To Oversee Asset Managers -- Guess Which Bank She's From

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posted on Jan, 19 2011 @ 09:08 AM
DIng, ding, ding... you guessed right! Goldman Sachs.
Source Article

Another example of a fox being hired to watch the hen house.

Is it just me or is this getting a little too flagrant? Or perhaps I am just paying more direct attention to it and things have always been this way.
I guess the real question is, will they always stay this way?

the Billmeister

posted on Jan, 19 2011 @ 09:28 AM
I think it is safe to conclude that the government has no real intent to resurrect the economy. At first glance, it seems smart to place the "best" minds from the "best" banks and other financial institutions into office because they probably have the "best" interpretation of the financial system as it is. But the truth, and everyone knows it, is that the financial system is totally bogus and fraudulent and there is not much you can do about it other than to take as much as you can from it before it all capsizes, because one way or another it will. Judging from all the government appointments and "attempts" at stimulating an economic recovery, this is exactly what they are doing, and the government itself is getting the original fraudsters from Wall Street to capitalize on the deteriorating economy while it still exists.

posted on Jan, 19 2011 @ 09:42 AM

Originally posted by asperetty
At first glance, it seems smart to place the "best" minds from the "best" banks and other financial institutions into office because they probably have the "best" interpretation of the financial system as it is.

Sorry to cherry-pick from your very insightful post, but I wholeheartedly agree with this point.

I think the worst part of the "revolving door system" is when they leave the government agencies (having directly affected policy) and return to private enterprise and directly profit from these policies.
Mind you this is true in other spheres than investment banking... the food industry and pharmaceutical firms comes to mind with their revolving door to the FDA.

the Billmeister

posted on Jan, 20 2011 @ 02:20 PM
I find it fascinating that only people that have a vested interest in financial affairs are the ones regulating the very institutions they worked for or will work for. Isn't there anyone else capable of overseeing these financial institutions that doesn't have a vested interest in those same institutions? How do you go about finding or even getting the backing needed to get these learned people into places of regulatory expertise? Fox guarding the hen house syndrome is definitely not what we need!


posted on Jan, 20 2011 @ 02:28 PM
It's got nothing to do with placing the best or smartest in these positions, it's all about having the best protection.
SEC, Treasury, Goldman Sachs has it's people in both.
The only there would ever be any fair system of oversight, regulation and investigation would be to sack everyone currently in place and start over with people without any ties whatsoever to any of the big banks they are supposed to regulate and investigate. Anything else is, as has been said already, a case of the fox guarding the henhouse.
Of course though, that is by design and another example of a rigged system and indicator of who really holds the power... it sure aint the man in the Whitehouse or any of his predecessors!

posted on Jan, 20 2011 @ 02:44 PM
ZindoDoone and Britguy,

I totally agree.

They have learned their lesson since the savings and loan scandal during the 80's.
The SEC really tried to investigate and prosecute (at least it appears that way), but when the buck stopped at the White House, no serious prosecution continued. (Although at least a few bankers were sent to jail that time.)
Funny how the SEC investigators were changed, and that the whole episode ended with massive bailouts to bankers as well... hmm, I wonder why that is?

To ensure nothing like that could happen again, they made sure to get their people on the inside. It should be criminal.

the Billmeister

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