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The revolving door

July 29th, 2012

While working on a piece about a possible bailout for the Spanish government, I discovered a couple of things that were news to me

* The Economics Minister in the (pro-austerity) Spanish government is a former executive of Lehman Brothers

* Axel Weber, formerly the ultra-hawkish head of the Bundesbank went straight from that job to the chairmanship of UBS, of which the NYT recently wrote “The bank’s recidivism seems rivaled only by its ability to escape prosecution”

Comment seems superfluous to me, but I hope readers will prove me wrong on this.


Posted via email from John’s posterous

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  1. Dan
    August 2nd, 2012 at 09:37 | #1

    Or respond to my observation at #28. Let me re-pose it thus: is all that matters to you efficiency? Or, do you think greater efficiency will fix whatever doesn’t seem to be working about present economic-social systems?

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