Paul Meloan – Vested Interest

But I will now.

I never thought much about Mary Schapiro when she ran the SEC, and that is probably exactly the way she wanted it.  I certainly never planned to write much about her, although obviously now I am doing it again.

Here is a much more artful takedown of her than I have the time to pen.

The money quote:

“(Nasim) Taleb told me the other day that he views Schapiro’s move to Promontory — and to a seat on the board of General Electric Co. — no differently. “I find Mary Schapiro morally repulsive,” he said, because there is an “implicit deal” whereby regulators such as Schapiro and Blinder (and many others) “make regulations complex” and then “sell their services at a higher price when they go to the private sector.”

One of the perpetual truths about democracy is that ultimately we always end up with precisely the government we deserve.  Schapiro is only the latest in a long line of government sheep now being put out to pasture.

Nice work if you can get it.

Paul Meloan is the co-founder and co-managing member of Aegis Wealth Management, LLC, in Bethesda, Maryland USA. Before Aegis Paul was a practicing attorney as well as working in the tax practice of Ernst & Young, LLP.

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