Saturday, October 20, 2007

Public Servants at Work

"A yearlong investigation has now provided unassailable evidence that the Interior Department abdicated its responsibility to collect royalties from oil and gas companies. ... Top officials at the agency also seemed more concerned about the fortunes of the industry they were supposed to regulate than those of the federal government", NYT, 28 September.

"Helaine Morrision, head of the [SEC's] San Francisco office, is leaving at the end of the month for a private-sector position. Ms. Morrison will join San Francisco money management firm Hall Capital Partners as general counsel, chief compliance officer and principal", WSJ, 19 October.

It's nice to see our public servants doing well. It would be nicer to believe they did not regularly use their positions to protect the industries they purport to regulate.

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