Sunday, October 9, 2016

Hillary Finds Rules Onerous and Unnecessary

From the John Podesta e-mails Presidential hopeful Hillary Clinton spoke about federal rules to ensure appointees don't have conflicts of interest. 

"But you know, part of the problem with the political situation, too, is that there is such a bias against people who have led successful and/or complicated lives.  You know, the divestment of assets, the stripping of all kinds of positions, the sale of stocks.  It just becomes very onerous and unnecessary.” [Goldman Sachs Builders And Innovators Summit, 10/29/13]
John Podesta served as the head of President elect Obama's transition team, which had health reform a top priority.  White House Health Reformer Nancy-Ann DeParle supposedly disposed of all conflicting assets in 2009.  How then did she receive a gain from her earn out from MedQuest, a medical imaging company?  Nowhere on her prior two disclosures did she indicate residual private equity stakes in MedQuest or any other healthcare firms, where she served as a board member.

After designing PPACA Nancy-Ann DeParle returned to her private equity underwriting (PEU) roots.  PEUs leverage political connections to earn monstrous gains.  It appears public servants can keep their residual private equity stakes and not declare them.  For the greed and power class it's all so onerous and unnecessary.