“Mary Schapiro, the former chairman of the Securities and Exchange Commission, must take us for fools.  Four months after leaving the SEC, Schapiro is joining a firm stuffed to the gills with former government financial-services regulators peddling their knowledge of Washington’s regulatory thicket to the banks and financial-services companies they once oversaw.  Promontory, founded in 2001 by Eugene Ludwig, a former comptroller of the currency, has become a sort of mini-version of Fannie Mae in its heyday.   About 100 of the 400 Promontory employees are former Washington regulators.”

http://www.bloomberg.com/news/2013-04-07/where-bank-regulators-go-to-get-rich.html

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