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Europe's Own Revolving Door: JPMorgan Hires Italy's Former Finance Minister Grilli

Tyler Durden's picture




 

After a job well done by a public servant, and by a job well done we of course mean facilitating the transfer of middle class, taxpayer wealth to private bank accounts, it is customary to reward them with a comfortable job in the same bank as repayment. This is also known as the revolving-door phenomenon and is the norm in US "regulation" (the epitome of career development by any SEC employee or US Treasury Secretary is to be hired by a Too Big To Fail Bank or private equity firm) and generally, politics. But not only US. Bloomberg reports that it is just as prevalent in Europe:

  • Vittorio Grilli joins JPMorgan as chairman of corporate and investment bank in Europe, Middle East and Africa.
  • Grilli will report to Daniel Pinto
  • JPMorgan announces Grilli hire in memo to staff, obtained by Bloomberg News

Because when the time comes to bailout the likes of JPMorgan, again, it will certainly help to have connected former "public servants" like Grilli on board.

Rinse. Repeat.

 

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Mon, 05/12/2014 - 06:55 | 4750165 GetZeeGold
GetZeeGold's picture

 

 

You take Sally, and I'll take Sue.....there ain't no difference between the two - Jackson Browne

Mon, 05/12/2014 - 07:00 | 4750168 XAU XAG
XAU XAG's picture

Blattant and in your FACE................the new normal.

Mon, 05/12/2014 - 07:05 | 4750177 Doña K
Doña K's picture

That's how vigilante justice starts.

 

Mon, 05/12/2014 - 07:15 | 4750195 GetZeeGold
GetZeeGold's picture

 

 

Vigilante justice........with nailguns?

 

Worth a shot I suppose...

Mon, 05/12/2014 - 07:29 | 4750217 XAU XAG
XAU XAG's picture

GetZeeGold

Vigilante justice........with nailguns?

 

They (nailguns) have been doing a good job lately.................such a good job I bought the company!

 

Mon, 05/12/2014 - 06:58 | 4750167 overmedicatedun...
overmedicatedundersexed's picture

the club rewards it's friends, now in public and in your face..not that the media takes undue notice.

Mon, 05/12/2014 - 07:02 | 4750173 XAU XAG
XAU XAG's picture

"CLUB MED" meets "COUNTRY CLUB"

Mon, 05/12/2014 - 07:01 | 4750170 Ghordius
Ghordius's picture

two possibilities: either Vittorio Grilli has helped JPM when he was Italy's finance minister or they want him because of his knowledge

meanwhile half of the problem of the revolving doors in finance is the size of those humungous, too-big-for-everything megabanks with global tentacles and no head firmly planted in any jurisdiction

Mon, 05/12/2014 - 07:05 | 4750179 XAU XAG
XAU XAG's picture

or they want him because of his knowledge

 

His knowledge for what JPM have been up to

 

It's a silence job

Mon, 05/12/2014 - 07:04 | 4750174 williambanzai7
williambanzai7's picture

Isn't that a violation of the Foreign Corrupt Fascists Act?

Mon, 05/12/2014 - 07:07 | 4750182 Doña K
Doña K's picture

And if so... Who is the enforcer?

Mon, 05/12/2014 - 07:20 | 4750200 GetZeeGold
GetZeeGold's picture

 

 

It's like illegal immigration.....nobody really enforces that crap.

Mon, 05/12/2014 - 07:25 | 4750207 negative rates
negative rates's picture

Little red riding hood.

Mon, 05/12/2014 - 07:04 | 4750176 intric8
intric8's picture

Jpmorgan is a bitch for the govt. No.. the govt is a bitch for jpmorgan and other bankers interests. i'm so confused...

Mon, 05/12/2014 - 07:10 | 4750186 XAU XAG
XAU XAG's picture

Jpmorgan is a bitch for the govt. No.. the govt is a bitch for jpmorgan and other bankers interests. i'm so confused...

 

They are both BITCHES!

 

Just look between thier legs..........they have no balls

they just have a hole for inserting printed money!

Mon, 05/12/2014 - 07:11 | 4750189 intric8
intric8's picture

ALL bitches should have the daylights fucked out of them

Mon, 05/12/2014 - 07:13 | 4750192 XAU XAG
XAU XAG's picture

ALL bitches should have the daylights fucked out of them

 

Only 12 hours a day then...........that's against the european time directive! LOL

Do they get Sundays off?

Mon, 05/12/2014 - 07:17 | 4750197 intric8
intric8's picture

12 hours will suffice. Lets start with paulson, ten inches up the ass, non-lubing. maybe he stops screaming after two

Mon, 05/12/2014 - 07:25 | 4750208 XAU XAG
XAU XAG's picture

Me thinks paulson...................just might like it

Mon, 05/12/2014 - 07:05 | 4750181 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Grillo, Grilli, let's Grill it.

Mon, 05/12/2014 - 07:26 | 4750211 Peter Pan
Peter Pan's picture

The story is not even worthy of comment. This thing happens all the time and there is nothing we can do about it other than be aware of it.

This is how the world works for those that control it.

 

Mon, 05/12/2014 - 07:36 | 4750224 UselessEater
UselessEater's picture

ring-a-ring-a-rosie-kiss-a-JPMorgan-boy-we-all-fall-down....

Now lets cut to the chase, how is this mob & their cohorts interlinked with this new world war we're supposed to be sidling up for?

These paper monkey tool heads are all lined up to destroy their home nation and then everyone elses. Lets see all the cards, not just the "western' so-to-speak cretins. Revolving doors are not covered in a wide enough scope IMO.

http://www.zerohedge.com/news/2014-04-03/guest-post-russia-dominated-glo...

...Russia is more beholden to international bankers than perhaps any nation on the planet....

Mon, 05/12/2014 - 07:46 | 4750234 Peter Pan
Peter Pan's picture

"...Russia is more beholden to international bankers than perhaps any nation on the planet...."

And if so, are we all being duped about the US v Russia situation?

Mon, 05/12/2014 - 08:13 | 4750271 whidbey-2
whidbey-2's picture

QH ought to hire an editor. Stale news never sells except to the ill inform.  Avoid this kind of news it drags your mind down........

Mon, 05/12/2014 - 08:57 | 4750371 WTFUD
WTFUD's picture

An Eye for an Eye OR Turn a blind Eye.
The good folks of Eastern Ukraine despite casualties have chosen the former whilst the western sheeples the latter, the soft belly easy option.

Mon, 05/12/2014 - 14:08 | 4751490 adonisdemilo
adonisdemilo's picture

Better make sure there is a spare rope for him, when the time comes.

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