In the Bush administration, top officials regularly cash in on their connections by taking jobs in the industries they used to regulate. Former Attorney General John Ashcroft did it. Former Secretary of Homeland Security Tom Ridge did it. And former Commerce Secretary Don Evans did it.
Chris Cox, who was recently nominated to chair the Securities and Exchange Commission, is making no secret about his intentions. Here is what his “longtime friend,” Joseph Finley, said made the job so attractive to Cox:
It’s a good way for him, if he decides over time to leave the public sector, a good place to exit from.
There was a time when people took these jobs to serve the public, not to skip a few rungs on the corporate ladder.