The Revolving Door: Bracewell & Giuliani attorney to head SEC's Texas regional office

Students will notice that I like to discuss this central feature of politics on all levels of government - one that helps tie interest groups with the various branches of government. This can negate the checks and balances and make it more likely that these branches work together to provide benefits for a well connected group. One of the more effective ways to do so is to control the executive agency that regulates the industry the group is involved in.

This story is today's illustration of this phenomenon;

- Click here for it.
- Click here for a bio of Shamoil T. Shipchandler.

The individual in question went from the U.S. Justice Department (where he served as "Assets Forfeiture Chief" and focused on fraud) to Bracewell & Guiliani (where he represented clients accused of fraud. Now he is expected to take those skills to the Securities and Exchange Commission. If you are paying attention, this means that Mr. Shiplander has gone from prosecuting white collar crime to defending white collar crime to regulating white collar activities.

Note that Bracewell & Guiliani is not only a law firm, but a lobbying form as well - the two jobs overlap.

From the story:

Legal experts said the SEC's decision to make Shipchandler, 41, the regional director is likely a sign that the agency's leadership wants its Texas enforcement division to focus more on fraudulent activity by businesses and individuals and less on technical violations of federal securities laws.

Critics might wonder how forcefully he might do so given the relationships he developed at Bracewell & Giuliani and where he might seek to go after his tenure at the SEC is over.

For background and related class concepts:

- Wikipedia: Revolving Door.
- Open Secrets: Top Industries.
- Rolling Stone: Revolving Door: From Top Futures Regulator to Top Futures Lobbyist.
- Bracewell & Guiliani.
- Wikipedia: Regulatory Capture.
- Wikipedia: Bracewell & Guiliani.