Just as the Obama administration nominated two academics for positions at the Securities and Exchange Commission, sidelining a bid by a lawyer working for a famous white collar defense firm, comes a bill whose goal is to slow the revolving door between Wall Street and federal government. Golden parachutes are a “breach of a fiduciary duty” The Financial Services Conflict of Interest Act, introduced by Sen. Tammy Baldwin (D-WI) and Rep. Elijah Cummings (D-MD), would make it criminally illegal under the bribery section of the U.S. Code for government officials to accept ““government service golden parachutes” from corporations and Wall…
Obama Urged To End Golden Parachutes, Slow Wall Street Revolving Door
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.