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Revolving Door Goes Both Ways: Morgan Stanley Hires Former Treasury Staffer To Head Corporate Affairs
Think the revolving door for Morgan Stanley's diaspora of clutch interests goes only from the private sector outward, with the recent appointment of MS' darling Mary Jo White (who will promptly recuse herself in virtually all major cases involved her former clients at Debevoise for years to come) to head the SEC? Think again. Moments ago, Reuters reported that according to a memo sent internally today, Morgan Stanley has hired Michele Davis, "a public relations official and policy director who helped shape the Treasury Department's strategy during the financial crisis, to become global head of corporate affairs, according to a bank memo sent on Monday."
Michele Davis will report to Vice Chairman Tom Nides, according to the memo from Nides and CEO James Gorman. She has worked "at the nexus of political and financial media throughout her career," said the memo, which was sent to employees and obtained by Reuters.
Davis is taking a position that was held by Jeanmarie McFadden who retired in February.
Davis worked under former Treasury Secretary Hank Paulson during the financial crisis in 2008. She had previously held posts at Fannie Mae and at the White House, where she was a deputy assistant to the president and deputy national security advisor for communications.
One could wonder just what benefits MS and other Wall Street firms incurred courtesy of Ms. White's benevolence in the days following Lehman's failure, and/or what the promised benefits to the said former Treasury staffer were from Morgan Stanley as a result of the preceding, but that would be trivial.
After all who cares: we are at a point in time in US history when the chief advisor to the US Treasury on its borrowing needs is none other than the COO of JPMorgan. Everything else should really be a logical continuation of this mindboggling state.
And yes, the revolving door goes both ways. Hence the name.
For those curious to learn some more about Ms Davis, here she is presenting, hilariously, on the topic of "Too Big To Fail"
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A revolving door is a key tool for tyranny and fascism. Guillotines and gold, not so much.
Round them up and apply justice. Infinite justice!
You must keep the mobsters coordinated or all hell will break loose.
Incestuous bitches & bastards!
Long bi-itches and inglorious bass-turds.
Just remove the door alltogether. As if anyone even thinks there is a difference anymore. Just rename the SEC "Internal Affairs."
better yet, "Monies "R" Us"
"Your money is our money, so pay it back debt slave" "You work for yours, and we collect ours the old fashion way".
Prostitution is not really the oldest professional. Common thievery is.
Aka... Politics.
"i certainly did not see it coming"
then you are a clueless toad not worthy of your role and should quietly excuse yourself from the room
Must be trustworthy then.
They probably have some horse orgy porn on her, they stay loyal that way.
Shocked! I am completely shocked I say!
Her qualifications????
Calloused knees!
Lack of particular moral and ethical standards.
Love of money and power.
Ohhh, wait... I am confused... She is doing God's work. My bad.
Wait again, that would be GS, right? Does MS also do God's work?
Now that's a callous joke!
yeap she swallows balls and all
Nah, she's bukkake all the way... CB
She didn't see it coming... Classic line for further promotion!
I'd like to apologize for my previous comment about this fed guy Warsh. He is completely throwing Bernanke under the bus and running him over and over again.
That being said, he sees more QE.
We all know where incest got the Egyptians...
Its unbelievable how these stooges are recycled. Unbelievable...
Is it people like this that need to be killed?
The SYSTEM is Immortal!
All Hail the SYSTEM. \.m./
The market and this country has become a complete farce. It literally makes me sick reading about these things.
The definition of "revolving" is that it goes around and around.
Yes, and they use the Back door to get unmentionable things done.
I was talking to staffers on The Hill about the future of Fannie Mae and Freddie Mac. Then I added "And what are you going to do about the TBTF banks?"
Dead silence.
Clearly you're not an Insider.
More of the same from the "shadow elite" that runs this dump.
http://janinewedel.info/shadowelite.html
But, hey - it's just business, nothing personal.
Isn't that the Fascist creed?
There is nothing inherently superior within the talents of Morgan Stanley senior executives than the average person in that industry except a lot of brown-nosing, a little luck, a ruthless disregard for others, and a lack of moral fibre...and an ability to talk bullshit without wretching...
O, and the big one. Average intelligence which allows focus and lack of distraction...since you can't get ahead much in that environment if your superior mind is jumping in all different directions, can you?
That's what my crew have told ME on occasion. ;-)
Why should men have all the muppet fleecing fun?
Be brief, we fucked up and wanted youto bail us out. See ya. Fuckin' witch.
She talks like a freshman coed talking about her first (giggle) frat party experience.
Wfhat revolving door? There ain't a door, just one big room and we ain't allowed in.
+1 Comment of the month right there. You fucking guys are so swift.
Looks like she was fucking Kashkari up the ass , while blowing Paulson.
I'd do a um word cloud, but UM would be um too um big to fit um on the page.
"Break the glass plan".
She uses more "ums" than a pro football/baseball player does during a postgame interview.
Why are you doing this Hank, why do you want to become the treasury sec?...
"To take my 700 million tax free, that's why!"
I couldn't even get through more than 3 minutes of this garbage. Barf!
Bitch, bitchez!
Sigh. Yet another instance of crony capitalism. Yet this kind is so blatant that it's almost as if they're flaunting it. Step 1) Remove reading glasses Step 2) Insert head into sand.
I really wonder.....can it get any worse?
This should be call "Treasury Hooker Gets Her Pay Off". As the Secret Service learned to their chagrin, you have to make sure the hookers get paid off, other wise it's bad luck.
Meritocracy YOU deserve what? And what kind of society would that be, where meritocracy rules? Fascism, communism, democracies, monarchies...all are prone to nepotism.
And sometimes...rarely...but sometimes nepotism will lead to the desired outcome.