Promontory Financial Group, a consulting firm, has become so powerful in the financial regulatory world that is advises both the government on how to write regulations and banks on how to comply with them. Part of their dominance is because nearly two-thirds of the company’s senior executives came from financial regulatory agencies. 

Mary Schapiro, the former head of the Securities and Exchange Commission (SEC), is joining Promontory Financial Group LLC, a major private consulting firm stocked with former regulators, but she thinks she isn’t part of the revolving door.

Find out why.

Major corporations make it financially advantageous for executives to take government jobs, according to regulatory filings reviewed by the Project On Government Oversight. Through their compensation policies, companies may be fueling the revolving door and making it easier for their alumni to gain influence over public policy.

See what companies offer what rewards in the full story.

And until the government deals with that core problem, the ratings agency system will not be fixed.

The collapse of one mutual fund was central to the 2008 financial crisis, but the father-son team that led the mutual fund escaped punishment Monday when the Securities and Exchange Commission lost their case against them. Read the full story at The New York Times.

Hard to feel bad for the banks who will finally pay for years of money laundering for drug traffickers, terrorists and sanctioned countries. Isn’t it nice when regulators actually regulate?