Bob Reich Explains Why Washington Hires So Many Wall Street Execs


Bob Reich has a simple explanation for why so many Wall Streeters get hired in Washington.

Politicians are “starry-eyed” when it comes to Wall Street, he told NYMag.

“Official Washington is starry-eyed when it comes to Wall Street,” Bob Reich says. “They assume if you’re that rich, you must be smart.”

Case in point: check out these 22 execs who went from Wall Street to Washington and back >

What’s sad is that the financial crisis didn’t persuade them otherwise. Neither has John Mack and many others admitting that bankers are overpaid.

Should we start the countdown clock now? It’s only a matter of time until Peter Orszag heads from Citi back to Washington.