Essay on "Door Politics Is a Lucrative"

Essay 2 pages (590 words) Sources: 3

[EXCERPT] . . . .

Another example of the revolving door is former New Jersey Governor John Corzine. (Foley, 2011) After losing his reelection bid, Corzine joined up with a lobbying firm, and proceeded to use his gubernatorial instincts to try to change policy. He had worked for Goldman Sachs, becoming the CEO in the 1990s before he joined politics. Now, he joined MF Capital, a boutique investment firm that Corzine started with the intention of regaining his former Financial Boss glory. Unfortunately for him, MF Capital went bankrupt in 2011. Corzine remains one of the leading Revolving Door Politicians in the financial sector.

In conclusion, the revolving door is a dangerous political move that positions the overseers uncomfortably close to those who they are supposed to be overseeing. Some industries, like oil, require a large amount of expertise that can only be attained by professionals, which makes managing their safety even more difficult. Other industries depend solely on individuals and the connections that they have to the places that investors need to be involved in. The complete ban of public elected officials joining lobbying firms for 3 years needs to be the action taken by the public sector to prevent too much revolving door action. Three years allows for enough time to maintain knowledge about a field, but also permits enough of a period to allow for proper changeover in Washington and within administrations.

Work Cited

Foley, S. (18, November 2011). "Goldman Sachs Conquers Europe." The Independent. London. Retrieved from, http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.html.

Taibbi, M. (11, January 2012). "Revolving Door." Rolling Stone Magazine. New York. Retrieved from, http://www.rollingstone.com/politics/blogs/taibblog/revolving-door-from-top-futures-regulator-to-top-futures-lobbyist-20120111.

Tempest, R. (June 2010). "Before Deepwater Horizon Disaster." "Wyoming File. Idaho Falls. Retrieved from, http://wyofile.com/2010/06/before-deepwater-horizon-disaster-wyomingites-had-key-roles-in-mms.

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