Tuesday, July 09, 2013

Ka-Ching! Tim Geithner Cashes In

Not that it's unusual for former government officials to cash in on their years of service, but it seems to me that it's worth noting when a guy who personifies "regulatory capture" cashes in:
Tim Geithner, the former US Treasury secretary, has been elevated to the highest rank of public speakers, alongside former world leaders Bill Clinton and Tony Blair, after receiving about $400,000 for three speaking engagements.

A speech at a Deutsche Bank conference last month netted him about $200,000, according to people familiar with the situation, underscoring the lucrative fees that former public officials can receive.
I'm not clear on why people would be particularly interested in Geithner's "take on topics including Federal Reserve policy and the state of the world three months after leaving the Obama administration", but then I have always been skeptical that this type of payment is actually for the speech as opposed to reminding other "public servants" of the riches that await them if they keep the industries they regulate happy.

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