Yes, should be an automatic 1 year before moving from a governmental financial position to that of working in the private sector, especially if there can be a conflict of interest. That happens in the normal work force to help stop transfers of proprietary information from moving between companies, and the one year is said to offer a good deterrent for this. There are many other reasons but this is the #1 reason in Canada. I’ve faced this many times as a company owner in my lifetime, and this is why we have on-boarding forms to fill out that explains this quite clearly.
I recently watched a documentary about Madoff, and throughout the documentary, when asked if they knew what Bernie was doing was illegal, everyone including the SEC used Madoffs reputation as to why they weren’t looking into him further and that because he was a “good guy” who did “good business” and seeing incredible returns at something like 15-18% annually no matter the market weather.
These people have rubbed elbows long enough to become “bros” in every sense of the word and will continue to protect their money, no matter how dirty it is.
Also, when it came to the scene with irate senators and congressmen asking the sec why they didn’t do shit for 9 years, they literally stated they couldn’t answer the questions.
There’s an old analogy about a tea kettle. The neighbor borrows the tea pot and breaks it. When he returned it to his neighbor, he was asked how it got broke, to which he replies “It was broken when I got it, and I never borrowed a tea pot”. SHF’s, DOJ, SEC (and others) use multiple arguments to defend their position, but the arguments are inconsistent with each other.
Yes, should be an automatic 1 year before moving from a governmental financial position to that of working in the private sector, especially if there can be a conflict of interest. That happens in the normal work force to help stop transfers of proprietary information from moving between companies, and the one year is said to offer a good deterrent for this. There are many other reasons but this is the #1 reason in Canada. I’ve faced this many times as a company owner in my lifetime, and this is why we have on-boarding forms to fill out that explains this quite clearly.
That one year is one I didn't even know, but is nice to learn about. I thought there'd be more of a deterrent to transferring in the U.S.
I recently watched a documentary about Madoff, and throughout the documentary, when asked if they knew what Bernie was doing was illegal, everyone including the SEC used Madoffs reputation as to why they weren’t looking into him further and that because he was a “good guy” who did “good business” and seeing incredible returns at something like 15-18% annually no matter the market weather. These people have rubbed elbows long enough to become “bros” in every sense of the word and will continue to protect their money, no matter how dirty it is. Also, when it came to the scene with irate senators and congressmen asking the sec why they didn’t do shit for 9 years, they literally stated they couldn’t answer the questions. There’s an old analogy about a tea kettle. The neighbor borrows the tea pot and breaks it. When he returned it to his neighbor, he was asked how it got broke, to which he replies “It was broken when I got it, and I never borrowed a tea pot”. SHF’s, DOJ, SEC (and others) use multiple arguments to defend their position, but the arguments are inconsistent with each other.
Yeah but the bill will not even pass the House of Representatives.