Click amount to donate direct to CounterPunch
  • $25
  • $50
  • $100
  • $500
  • $other
  • use PayPal
Spring Fund Drive: Keep CounterPunch Afloat
CounterPunch is a lifeboat of sanity in today’s turbulent political seas. Please make a tax-deductible donation and help us continue to fight Trump and his enablers on both sides of the aisle. Every dollar counts!
FacebookTwitterGoogle+RedditEmail

Two More Public Officials “Cash In”

Is there anything more maddening then watching elected officials and regulators cash in for their time in office?

Here’s two more names you can add to the list: Former SEC chief Mary Schapiro and ex-US Senator Scott Brown (R-MA). Schapiro, the feckless sellout who accomplished absolutely zero as chairman of the once-feared Securities and Exchange Commission, is pegged to join General Electric’s board of directors. According to an article in Marketwatch:

“GE Chairman and Chief Executive Jeff Immelt said Ms. Schapiro’s experience overseeing U.S. financial markets and understanding of corporate governance and financial regulation will benefit the company.”

What an outrage! Can you imagine how subservient you’d have to be to get rewarded by the very industries you were supposed to regulate? If Schapiro had ever lifted a finger against GE or any of the other monster corporations that run the country, her career would now be kaput. Instead, she’s going to rake in millions for sleeping through tedious board meetings where she’ll contribute absolutely zilch. Such a deal.

Keep in mind that during her time at the SEC, Schapiro completely missed the Bernie Madoff fiasco, failed to implement any of the new Dodd-Frank legislation, did nothing to reduce the risks connected to high-frequency trading (HFT), money markets, Too Big To Fail, derivatives trading or virtually any other area of the increasingly-wobbly and crisis-prone financial system. Her 4-year tenure was a complete bust where no high-ranking Wall Street executive or top dirtbag banker was ever indicted, prosecuted, arrested, tried or sent to prison. Not even one!

Good job, Mary. Hope you get a big fat check from Mr Immelt for your patriotic service to the country!

Then there’s FOX News “on-air contributor” and waterboarding afficianado, Scott Brown. According to the Boston Globe, Brown will be “joining the Boston law firm of Nixon Peabody, where he will focus on matters relating to the financial services industry and commercial real estate. (He) will be leaning heavily on his Washington contacts to drum up business for the firm, he will not be a lobbyist, according to Nixon Peabody officials.” (boston.com)

Here’s more from Think Progress:

“Among the lobbying clients represented by Nixon Peabody is Goldman Sachs… Brown received $10,000 in PAC contributions from Goldman and more than $100,000 in contributions from its employees.” (“After Watering Down Financial Reform, Ex-Senator Scott Brown Joins Goldman Sachs’ Lobbying Firm”, Think Progress)

Nice, eh? Sounds like “Wall Street’s Favorite Congressman” (Forbes) should be able to pad the old nestegg due to his unflinching loyalty to the “people who count”. Here’s more from the Globe via wikipedia:

“On December 12, 2010, the Boston Globe reported that “[c]ampaign contributions to [Brown] from the financial industry spiked sharply during a critical three-week period last summer as the fate of the Wall Street regulatory overhaul hung in the balance and Brown used the leverage of his swing vote to win key concessions sought by firms.” Brown received more than ten times the amount of contributions from the financial services industry as House Financial Services Committee chairman Barney Frank during the same period. According to the Globe:

“Brown’s efforts benefited large Massachusetts companies such as MassMutual Financial Group, Liberty Mutual Insurance, Fidelity Investments, and State Street Corp., whose executives and political action committees contributed $29,000 to Brown during the three-week period he was extracting the concessions from Democrats. They also benefited major out-of-state institutions such as Goldman Sachs, UBS, and JPMorgan Chase. Those and other out-of-state financial interests gave Brown a total of $50,000 during the period.”

Looks like Wall Street loves the ethically-challenged Mr. Brown, who’s also a big fan of the universally-condemned practice of “simulated drowning” known as waterboarding.

Here’s the scoop from the Globe:

“After a press conference in Boston in which he called for a freeze on wages for federal employees, Brown, in response to a question, told reporters that Umar Farouk Abdulmutallab, 23, the Nigerian accused of trying to blow up a passenger jet en route to Detroit on Christmas Day, should be treated as an enemy combatant, taken to the US detention camp at Guantanamo Bay, Cuba, interrogated “pursuant to our rules of engagement and laws of war,’’ and not be treated as a civilian criminal suspect. Brown asserted that waterboarding does not constitute torture, but he did not specifically say Abdulmutallab should be subjected to waterboarding.” (“Brown and Coakley clash over terror suspects’ rights”, boston.com)

There you have it! Is it any wonder why the country is in such bad shape when you look at the apple-polishing suck-ups and carpetbagging, human rights abusing scoundrels who are in charge? And Schapiro and Brown are just the tip of the iceberg. The whole system is riddled with corruption from top to bottom.

MIKE WHITNEY lives in Washington state. He is a contributor to Hopeless: Barack Obama and the Politics of Illusion (AK Press). Hopeless is also available in a Kindle edition. He can be reached at fergiewhitney@msn.com.

More articles by:

MIKE WHITNEY lives in Washington state. He is a contributor to Hopeless: Barack Obama and the Politics of Illusion (AK Press). Hopeless is also available in a Kindle edition. He can be reached at fergiewhitney@msn.com.

Weekend Edition
May 25, 2018
Friday - Sunday
Melvin Goodman
A Major Win for Trump’s War Cabinet
Andrew Levine
Could Anything Cause the GOP to Dump Trump?
Pete Tucker
Is the Washington Post Soft on Amazon?
Conn Hallinan
Iran: Sanctions & War
Jeffrey St. Clair
Out of Space: John McCain, Telescopes and the Desecration of Mount Graham
John Laforge
Senate Puts CIA Back on Torture Track
David Rosen
Santa Fe High School Shooting: an Incel Killing?
Gary Leupp
Pompeo’s Iran Speech and the 21 Demands
Jonathan Power
Bang, Bang to Trump
Robert Fisk
You Can’t Commit Genocide Without the Help of Local People
Brian Cloughley
Washington’s Provocations in the South China Sea
Louis Proyect
Requiem for a Mountain Lion
Robert Fantina
The U.S. and Israel: a Match Made in Hell
Kevin Martin
The Libya Model: It’s Not Always All About Trump
Susie Day
Trump, the NYPD and the People We Call “Animals”
Pepe Escobar
How Iran Will Respond to Trump
Sarah Anderson
When CEO’s Earn 5,000 Times as Much as a Company’s Workers
Ralph Nader
Audit the Outlaw Military Budget Draining America’s Necessities
Chris Wright
The Significance of Karl Marx
David Schultz
Indict or Not: the Choice Mueller May Have to Make and Which is Worse for Trump
George Payne
The NFL Moves to Silence Voices of Dissent
Razan Azzarkani
America’s Treatment of Palestinians Has Grown Horrendously Cruel
Katalina Khoury
The Need to Evaluate the Human Constructs Enabling Palestinian Genocide
George Ochenski
Tillerson, the Truth and Ryan Zinke’s Interior Department
Jill Richardson
Our Immigration Debate Needs a Lot More Humanity
Martha Rosenberg
Once Again a Slaughterhouse Raid Turns Up Abuses
Judith Deutsch
Pension Systems and the Deadly Hand of the Market
Shamus Cooke
Oregon’s Poor People’s Campaign and DSA Partner Against State Democrats
Thomas Barker
Only a Mass Struggle From Below Can End the Bloodshed in Palestine
Binoy Kampmark
Australia’s China Syndrome
Missy Comley Beattie
Say “I Love You”
Ron Jacobs
A Photographic Revenge
Saurav Sarkar
War and Moral Injury
Clark T. Scott
The Shell Game and “The Bank Dick”
Seth Sandronsky
The State of Worker Safety in America
Thomas Knapp
Making Gridlock Great Again
Manuel E. Yepe
The US Will Have to Ask for Forgiveness
Laura Finley
Stop Blaming Women and Girls for Men’s Violence Against Them
Rob Okun
Raising Boys to Love and Care, Not to Kill
Christopher Brauchli
What Conflicts of Interest?
Winslow Myers
Real Security
George Wuerthner
Happy Talk About Weeds
Abel Cohen
Give the People What They Want: Shame
David Yearsley
King Arthur in Berlin
Douglas Valentine
Memorial Day
FacebookTwitterGoogle+RedditEmail