Time served on Wall Road has lengthy smoothed the trail to the highest job at America’s Treasury. Earlier than he was the primary treasury secretary Alexander Hamilton might boast, amongst different issues, a job in establishing the Financial institution of New York, which continues to be in enterprise. Extra just lately, and considerably much less heroically, Robert Rubin and Hank Paulson each ran Goldman Sachs, a financial institution, earlier than taking workplace. As its title suggests, the “revolving door” sends individuals within the different path, too. Mr Rubin went on to carry senior positions at Citigroup, one other financial institution. Cerberus Capital Administration and Warburg Pincus, two funding corporations, are chaired by John Snow and Timothy Geithner respectively.
