Examples like Yellen below making Millions from the very companies she regulates, are not the exception. They are the rule for those who live in and out of Government life.
Quote:
Yellen Earned More From Citadel Than Government Salary Over Last 2 Years
t has been revealed that Janet Yellen, US Secretary of the Treasury, earned $7.2 million in speaking fees over the last two years. Within a disclosure form acquired by The Tokenist and issued by the U.S. Office of Government Ethics, Yellen was discovered to be on the corporate banking payroll, with organizations such as Citi, Barclays, and Bank of America all paying six figures for her to speak.
One of her regular customers has been Citadel, although the document does not specify whether it was Citadel LLC (the hedge fund), or Citadel Securities (the market maker). This situation has been gaining traction once again due to the recent discussions around trading “dark pools”, one of which is operated by Citadel Securities. ...
Whether it is 100% true or not, not that long ago serving in gov't was considered something to do that was a sacrifice. Many wealthy "could not afford to run" as the opportunity cost was just too high as they lived on a Public servant salary while missing out on private sector opportunity.
Something happened, and I do not think it is just a change in perception.
Gov't now attracts everyone from the Super wealthy to the poor because at all levels, if you understand the game you can either make immense wealth while in gov't or set yourself up to profit after.
Ex Presidents just line up to get their cozy positions on the Boards of massive PE Firms like BlackStone Group or Carlyle Group.
Government has devolved into the ultimate grift one can grab a ride on in society. There literally is no position better one could gain if you are looking for a grift gravy train.
Agree or disagree?