Apart from being appointed a senator for life to the Canadian parliament, or, as it was in the old days, becoming a member of the International Olympic Committee, there surely are few things as likely to raise the ire of ordinary folk than news a former civil servant has been appointed to a fat cat job in an industry he or she previously regulated.
Of course, such actions are not limited to those tasked with carrying out the orders of elected ministers – often ministers themselves try to take advantage of "The System", as David Blunkett found out to his misery. The rot seems to permeate every which way: in most countries it is easy to find ex-policemen employed by security firms, armed forces staff joining arms makers, and medical professionals previously employed by the state now developing drugs or, more likely, helping forge a path through regulatory barriers to getting a product to market. And so to financial services. While f...
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