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New Supply of Former Fed Officials Finds High Demand on Wall Street

Wall Street Journal Original article ›

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Revolving door for officials in U.S. government and regulatory authorites, the S.E.C., the Federal Reserve, and the large banks.

01/28/2009

Orszag, budget director in the Obama administration, joins Citigroup. A senior official at the New York Fed's regulatory department joins Goldman Sachs. Another Fed official joins Morgan Stanley as chief economist. S.E.C. enforcement chief leaves Deutsche Bank for the S.E.C. and leaves the S.E.C. for a position in the financial industry. The nominee for S.E.C. chief in 2013, Jo White, represented JP Morgan Chase in her work at a law firm. The nominee for Treasury Secretary Jacob Lew, worked at Citigroup for a short period. A similiar situation exists in the UK and in other EU countries.

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