Question
President Trump along with former Presidents George Bush (the son),Bill Clinton, and President Barrack Obama made heavy use of Wall Street executives from the firm
President Trump along with former Presidents George Bush (the son),Bill Clinton, and President Barrack Obama made heavy use of Wall Street executives from the firm known asGoldman Sachs. People from this firm always seem to get the top economic and government regulatory jobs within the U.S. government.What economic term did Chapter 5 use to describe cases like this?(See examples below)
TrumpDeputy Treasury Secretary - James Donovan - 25 year employee atGoldman Sachs
ObamaChairman of Commidity Futures Trading Group -Gary Gensler - 18 year employee of Goldman Sachs
Bill ClintonTreasury Secretary - Robert Rubin - 26 year employee at Goldman Sachs
George BushTreasury Secretary - Hank Paulson - former CEO of Goldman Sachs
Government Failure Effect
Redistribution of Wealth
Regulatory Capture
Rent Seeking
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