Ah, the Washington DC revolving door. They are going to have to put some more grease on those hinges with all the use it’s getting. Of course grease is really the problem. (Especially the grease on the palms of those using the door.) Perhaps it’d be better if the thing locked up.
(From Liberty Blitzkrieg)
What better way to kick off 2014 than with the first (and most certainly not last) egregious example of USA banana republic revolving door crony capitalism. In this case, the crony in question is former head of the Federal Communications Commission (FCC), Julius Genachowski, who was earlier today named Managing Director and partner in the U.S. Buyout team for private equity giant Carlyle Group. Carlyle is so giddy about its latest example of regulatory capture, they issued a glowing press release on the matter. Here are some excerpts: