It seems like it was only yesterday (actually it was early November) when infamous CFTC commissioner, legendary threat to gold manipulators nowhere, and Alexander Godunov impersonator, Bart Chilton made a very dramatic exit stage left.
Here is what we said at the time:
Having "left traders in their own" during the shutdown, Chilton expressed "excitement" at his new endeavours after sending his resignation letter to President Obama this morning (more poetry? - or body doubles?) "I'm reminded of the old Etta James song, 'At Last,'" said Mr. Chilton, one of the agency's three Democratic members. "At last, we've got this rule here," and at last, he would be leaving the CFTC. This leaves us wondering whether Chilton, no longer burdened by the shackles of his meagre compensation, perhaps can finally do what he has been promising to do for years - become a whistleblower - after all he has insinuated so many times he knows where all the "dirt" is; unless, of course, it was all for show.
The rhetorical answer to the rhetorical question: of course it was all for show, confirmed moments ago when Chilton became just the latest "regulator" to take the great revolving door out of a worthless public service Washington office into a just as worthless, but much better paying private-sector Washington office. Presenting the latest employee of DLA Piper, the largest law firm in the US, and possibly the world, by number of partners - Bart Chilton, poet.
From DLA Piper.
Former CFTC Commissioner Bart Chilton joins DLA Piper as senior policy advisor in Washington, DC
DLA Piper announced today that former Commodity Futures Trading Commission Commissioner Bart Chilton is joining the firm on April 15 as a senior policy advisor in the Washington, DC, office.
Commissioner Chilton’s 30-year career in government service includes working in the US Congress and serving in the executive branch during the Clinton, Bush and Obama administrations. He has extensive experience in the development and debate of major public policy related to the financial services industry, including significant market and regulatory changes impacting the full spectrum of derivatives users.
Commissioner Chilton was nominated and confirmed as a CFTC Commissioner during the Bush and Obama Administrations (2007 and 2009), and he chaired the CFTC’s Energy and Environmental Markets Advisory and Global Markets Advisory committees. His tenure was marked by landmark efforts to assist industry participants with the myriad requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which created a complex regime for the regulation of the swaps marketplace.
“Bart will bring unmatched experience and insight as one of the commissioners who oversaw the enactment and implementation of Dodd-Frank,” said Jay Smith, chair of DLA Piper’s US Corporate and Finance practice. “With many of the key derivatives requirements now coming to fruition, Bart will be an invaluable resource for clients who will be subject to increased regulation over the next few years.”
In 2008, Commissioner Chilton led the Obama Transition Team with regard to the US Department of Agriculture. Prior to joining the CFTC, in 2005, he was a Schedule C political appointee of President Bush at the US Farm Credit Administration. From 2001 to 2005, Commissioner Chilton was a senior advisor to Senator Tom Daschle, who is currently a senior policy advisor at DLA Piper.
From 1995-2001, Commissioner Chilton was a Schedule C political appointee of President Clinton, where he rose to deputy chief of staff to US Secretary of Agriculture Dan Glickman. Earlier in his career, Commissioner Chilton worked in the US House of Representatives, where he served as legislative director for three different members of Congress and as the executive director of the bipartisan Congressional Rural Caucus.
“The addition of Bart will enhance the capabilities and visibility of our global swaps practice, as well as our access to other key decision-makers with regard to recent rulemaking,” added Marc Horwitz, head of DLA Piper’s Derivatives practice. “In addition to providing his unique insight on Dodd-Frank, Bart will assist our cross-border team in navigating thorny issues surrounding equivalency with comparable regulations that are being enacted in other jurisdictions.”
Yes, we did harbor hopes that Chilton could actually become a whistleblower. But the prospect of living in the apartment below Snowden collecting nothing while actually doing some real work for the first time in his life, surely seemed far less apetizing than sitting in a glass corner office at 500 Eighth Street, NW, collecting over a million a year for doing nothing.
Appropriately enough, the DLA press release concludes with the following.
Commissioner Chilton is also the author of Ponzimonium: How Scam Artists Are Ripping Off America, a consumer education book published by the CFTC.
So, in retrospect, a non-fiction autobiography too?