Former Rep. Brad Miller (D-N.C.) disapproves of the revolving-door relationship Capitol Hill Democrats have with Wall Street banks, such as Citigroup.
“It’s not specifically about Citigroup, but really about the revolving door generally,” Miller told HuffPost Live. “They really largely staff out administrations, and leave the administration to go back to their old jobs. And at their old jobs they have as clients all the biggest banks and other financial institutions.”
His concerns echo Elizabeth Warren’s recent Politico piece, “The Citigroup Clique," in which she highlights the benefits and concerns of employees moving between the public and private sectors.
But this cyclical practice wasn’t always frowned on. Miller explained: “That was actually regarded as some kind of a very wholesome thing, a very distinguished career that when people came out of prominent positions in the private sector in the government, they brought a perspective that was very useful. And then they applied, they acted in the public interest for a time and then came back into the private sector and brought with that the perspective of having been in government.”
Miller blames the crooked economy for any pessimism toward workers who constantly shift between the government and private firms for jobs.
“Now I fear that revolving door just brings people in. I don’t think they really think it through as how can they protect their own financial interests when they’re in government, but in subtle ways,” he said.
So should we expect to see the former congressman submitting an application to Citigroup anytime soon?
“It did not occur to me to send them a resume and I’m not sure it would have been particularly welcomed if I had,” Miller said.
See Miller’s comments on HuffPost Live in the video above
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