When is Enough.....Enough?

There's a great scene from the TV show M*A*S*H* (I feel I have to say it was a TV show for our younger readers) where Hawkeye and Trapper John are getting chewed out by Colonel Blake for some stunt they pulled.  Here's the dialog from memory;

Colonel Blake:  "Ok, this does it!  This time you've gone too far!  What were you thinking??"

Hawkeye :  "I don't know, we were too busy going too far!"

This is how I feel about this article from Bloomberg News Wall Street Begins Campaign to Thwart 'Populist Overreaction'

Wall Street’s largest trade group has started a campaign to counter the “populist” backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.

In memos of confidential meetings with top financial executives, the Securities Industry and Financial Markets Association said it began this month the “execution phase” of the operation, which pledges to “embrace change” and accountability. The plan targets policy makers and the media in New York, London, Washington and Brussels and calls for a “city-by-city, grass roots” approach.

Have a read.  SIFMA is doing some sneaky stuff like using smaller regional dealers to grease Congress since these smaller dealers are under the radar, but that isn't what really bothers me (maybe I should be really bothered that that doesn't really bother me).  What should be poking all of us in the eye is two of Hank Paulson's deputies are getting a $70,000 monthly retainer to "craft the message".  Jim Wilkinson was Hapless Hank's Chief of Staff and Michele Davis was his spokesperson. 

As soon as the jig was up in January, these two signed on with The Brunswick Group.  You think it's just random that the Street decided to start a Congressional petting session and they just happened to find these two working at The Brunswick Group?  No?  Neither do I.  Ms. Davis knows exactly how to "get the message across" and Wilkinson knows who to "get it across to."  This was probably in the works when they were both sitting at Treasury.

This sh*t just has to stop....now!  You want to work for the government and then go and work in the industry you were either regulating or doing business with, fine....unless it has to do with using your Rolodex of Congressional and government contacts to peddle influence.  If that's the case then NO YOU CAN'T!  When is enough enough?

Comments

[eric]

nice!

[anon]

When the regulated thinks the regulator approves of the regulator, something is wrong...

Rep. Frank: Let me ask [George] Gould and [Franklin] Raines on behalf of Freddie Mac and Fannie Mae, do you feel that over the past years you have been substantially under-regulated?

Mr. Raines?

Mr. Raines: No, sir.

Mr. Frank: Mr. Gould?

Mr. Gould: No, sir. . . .

Mr. Frank: OK. Then I am not entirely sure why we are here. . . .