From the cover story on Michael Steinhardt (a former partner of mine in the New York Sun) and his WisdomTree ETF business ("Return of the King: The Greatest Trader in Wall Street History is Back and He's Reinventing Investing Again") in the February 10, 2014 issue of Forbes: "Arthur Levitt, who had been chairman of the SEC from 1993 to 2001, was brought on board to help grease the skids with regulators."
What does it say about our system of financial regulation that if you want to start a new consumer-facing investment business the set-up creates incentives to hire government officials to "grease the skids" with their former colleagues?
