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Tag Archive: Revolving Door

Futures industry nabs former government regulator as new leader


In the latest example of a former financial regulator finding employment in the industry, the Futures Industry Association (FIA) has announced that its new president will be a former leader at the Commodity Futures Trading Commission (CFTC).

Walter Lukken was nominated to the commission by former President George W. Bush and chaired the agency's global markets advisory committee while there. From 2007-2008, when the financial crisis was at its height, he served as its acting chairman. Lukken resigned when President Obama took office in 2009.

In his current role as chief executive officer for New York Portfolio Clearing, he ...

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SOPA revolvers: Sixteen former Judiciary staffers lobby on online copyright issues


As the House Judiciary Committee readies to consider a controversial bill that supporters say will crack down on websites pirating content, some interest groups may have a leg up on influencing the legislators.

That’s because 16 lobbyists, representing various companies and organizations favoring, opposing or watching the bill, used to work on the House panel. The committee plans to markup the measure tomorrow.

The bill, called the Stop Online Piracy Act, is hotly contested, dividing Hollywood, which wants tougher laws to protect copyrighted material, and Silicon Valley, which contends that SOPA would introduce new, uncertain liabilities for web companies ...

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Moody’s has most employees leaving through revolving door


Moody's credit rating service -- one of the major credit rating agencies that was cited as a contributor to the 2008 financial meltdown -- has more employees go through the revolving door to work at companies they used to rate than any other credit rating agency, according to new Securities and Exchange Commission (SEC) filings required under the Dodd-Frank financial law.

Eighty-two Moody's employees have moved on to jobs at big banks such as Credit Suisse, Morgan Stanley, and Bank of America over the past five years, according to the filings, which are available here. This is nearly four times ...

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In response to Renco lobbying, activists mount their own campaign


A coalition of environmental advocates has launched a letter writing campaign directed at government officials who intervened in a dispute between Renco Group and its Doe Run Peru subsidiary and the government of Peru. The campaign came after the Sunlight Foundation reported that Renco had hired eight former government officials in less than three months to lobby on its behalf.

Two members of Congress, House Financial Services chairman Spencer Bachus, R-Ala., and Rep. Donald Payne, D-N.J., wrote letters to executive branch officials summarizing Renco Group's position in the dispute with Lima. The letters request that the U.S ...

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