Geithner to Join Private Equity Firm

[Beet]

http://www.marketwatch.com/story/geithner-to-join-warburg-pincus-wsj-2013-11-16?link=MW_home_latest_news

He will be in charge of the firm's strategy and management. Now I happen to think Geither was one of the greatest Treasury Secretaries in U.S. history, but let's not pretend that a conflict of interest doesn't exist here. Public officials are deterred from cracking down on the financial sector because they know that is where their next paycheck is coming from.

[Filuwaúrdjan]

He should be arrested post haste.

[Tetro Kornbluth]

Shocking!!!1

[Bleach Blonde Bad Built Butch Bodies for Biden]

[TheDeadFlagBlues]

[Lief 🗽]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

[Beet]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

That, and a combination of revolutionizing the pay scale of government employees, the latter of which ought to be set by the private sector. In other words, if someone is doing a job that the private sector would pay them X for, the American people ought to pay them X as well. That way our employees aren't at a disadvantage working for us, compared to working for The Man.

[Bleach Blonde Bad Built Butch Bodies for Biden]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

That, and a combination of revolutionizing the pay scale of government employees, the latter of which ought to be set by the private sector. In other words, if someone is doing a job that the private sector would pay them X for, the American people ought to pay them X as well. That way our employees aren't at a disadvantage working for us, compared to working for The Man.

What if a private sector company offers a better deal to someone already in the government?  Do we prohibit that company from giving them more than what they made in their government job?

[Lincoln Republican]

So, Obama's minions are not above profiting from what they so maliciously attacked Romney for.

Shame!

[© tweed]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

as with all symptoms of The Problem there is no solution outside of fixing The Problem, only a few patches and medications.

[TheDeadFlagBlues]

So, Obama's minions are not above profiting from what they so maliciously attacked Romney for.

Shame!

Obama doesn't care about private equity, his campaign was heavily dependent on individuals working for equity firms in 2008 but he also needed to win an election. Also, the financial sector is filled with ungrateful sociopaths who actively seek out and kill hundreds of browns to pad their balance sheet. Obama could have eviscerated the sector and re-made it but instead he took the hit for America's tremendous sacrifice. Then he had the gall to press for a timid regulatory framework and wall street sobbed as if they were being expropriated by a band of Maoists.

This country desperately needs a revolutionary tribunal to try the finance majors and quants who's only concern is to seek rents via the plunder of public policy. Maybe a small dose of terror would inspire them to submit to the collective good...

[King]

How does one gain the experience and knowledge to work at the Treasury without having a career in the banking sector?

[TheDeadFlagBlues]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

as with all symptoms of The Problem there is no solution outside of fixing The Problem, only a few patches and medications.

and no one knows how to fix The Problem and all major operations have been guided either by trial and error or false medicine.

[TheDeadFlagBlues]

How does one gain the experience and knowledge to work at the Treasury without having a career in the banking sector?

You get a PhD and study public policy like a real civil servant who is concerned with promoting the public interest or you could just make bank, stop being a dweeb and start being a pro who has frequent slampieces.

[Beet]

Okay but what is the solution to this? Prohibit public servants from working in the private sector? You wouldn't be able to hire anyone half-way qualified or competent to be in the government ever again.

That, and a combination of revolutionizing the pay scale of government employees, the latter of which ought to be set by the private sector. In other words, if someone is doing a job that the private sector would pay them X for, the American people ought to pay them X as well. That way our employees aren't at a disadvantage working for us, compared to working for The Man.

What if a private sector company offers a better deal to someone already in the government?  Do we prohibit that company from giving them more than what they made in their government job?

We don't prohibit the company from offering, we prohibit the employee from accepting on the basis of obligations they took when they accepted our employment. Non-compete clauses in employment contracts are created like this all the time in the private sector. The goal is to create a respected civil service that is in no way inferior, and in many ways superior, to those they are attempting to regulate.

[○∙◄☻¥tπ[╪AV┼cVê└]

Gee, who would have thought that a severely ethically challenged person would do such a thing?

[Indy Texas 🇺🇦🇵🇸]

How does one gain the experience and knowledge to work at the Treasury without having a career in the banking sector?

You get a PhD and study public policy like a real civil servant who is concerned with promoting the public interest or you could just make bank, stop being a dweeb and start being a pro who has frequent slampieces.

Geithner did college at Dartmouth and has a MA (but not a PhD) in econ from Johns Hopkins. He worked at Treasury and the Federal Reserve prior to taking his current job. He's not part of the Goldman Sachs revolving-door clique like Paulson, Rubin and others.