Policy: Economy

Sheila Bair, regulator who criticized the revolving door, passes through the revolving door

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Beltway Confidential,Opinion,Timothy P. Carney,MSNBC,Economy,Revolving Door

There is a Japanese children's book that has been translated into English with the title "Everyone Poops."

It doesn't matter who you are or what you do. Everyone poops.

Chris Hayes, the liberal MSNBC host, once joked on Twitter, "If I were to write a kids' book about DC, along the lines of 'Everybody Poops' it would be called 'Everybody Cashes Out.' "

Sheila Bair, former head of the Federal Deposit Insurance Commission, once wrote that she "would like to see financial regulation be viewed as a lifelong career choice — similar to the Foreign Service — rather than a revolving door to a better-paying job in the private sector."

"There should be a lifetime ban on regulators working for financial institutions they have regulated," Bair said in her 2008 book.

Sheila Bair has just joined the board of Spain's Banco Santander.

Everybody cashes out.

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