Mary Schapiro Leaves SEC, Takes Position at “Fixer” Firm Promontory
Concerning the revolving door of government regulators who, upon leaving office, take executive and high-ranking positions in the very industries they used to regulate, special outrage can rightfully be expressed regarding Mary Schapiro’s recent joining with Promontory Financial Group. Promontory Financial Group is a global consulting firm that advises its clients on the paths to take when legality conflicts with profitability. Promontory has loaded its ranks with former government employees and financial regulators, building its profile as a “fixer” between banks and regulators. For example, the founder and CEO of Promontory, Eugene Ludwig, is the former head of the...
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