A Legal Bane of Wall Street Switches Sides


The revolving door continues to revolve. From government, to the banks, to government, back to the banks. It’s a pattern we see over and over.

The New York Times reports on the latest example of a big time regulator leaving to for the sunny pastures of hedge fund defense.

As a partner at Kirkland, Mr. Khuzami will represent some of the same corporations that the S.E.C. oversees. Critics say this revolving door — common at the S.E.C. — undermines the agency’s independence and links it inextricably to Wall Street. Mr. Khuzami, who spent 17 years in the government and has publicly called for lawyers to build public and private experience, called defense work essential to the justice system.

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