The Revolving Door

The Revolving Door

This is a topic that hasn't drawn enough attention. There are some restrictions on employment options when it comes to the "revolving door" between government and private sector positions. There shouldn't be any of it. It's a major conflict of interest, and there really aren't any necessary reasons for it.

There are several areas where the "revolving door" is an issue. A couple of examples include the pharmaceutical industry and the financial sector. To get an idea of how little has been published when it comes to this, look at this brief Wikipedia article.

The revolving door may have been partly responsible for the financial crisis, as well as the Madoff scandal, to name a couple of examples, and it may be partly responsible for the next economic downturn. There are some serious questions when it comes to this issue and the defense industry.

Things would be bad enough if there was a revolving door question between companies which were headquartered on the West Coast, for example, and D.C. Wall Street is close to D.C., and three of the top five defense contractors are based in the D.C. area.