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Revolving Door Between Gov't And Industry Continues: Pharma Lawyer Goes To USPTO As Gov't Financial Regulator Goes To Wall St.

from the who-needs-bribes? dept

The level of regulatory capture between the government and industry is really quite sickening these days. There's a revolving door where government officials go work for industry and vice versa, with plenty of back-scratching in both directions. Two separate stories crossed my desk at about the same time, highlighting this in both directions. First up, it's really no surprise that one of the pharma industry's favorite lawyers has just become deputy director of the US Patent Office. Of course, the pharma industry is one of the more aggressive ones when it comes to expanding the power of patents, and abusing them to block innovation in healthcare. Now they have another person on the inside to help.

Going in the other direction, a senior "dealmaker" and advisor to the government's FDIC program has jumped ship to Goldman Sachs. That article lists a bunch of other top government officials involved in dealing with the financial crisis and setting the new regulatory rules, who have wasted little time in taking new jobs in the private sector on Wall Street. As some have pointed out, this kind of revolving door makes bribes totally unnecessary. You don't need any form of bribery or overt corruption, when the corruption is entirely implicit in the nature of the revolving door.
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Filed Under: corruption, patents, pharma, politics, revolving door, wall street

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  1. identicon
    Anonymous Coward, 23 Feb 2011 @ 11:22am

    When on the 'inside' - whether it be industry or government, depending the entry level of the person, one's main interest will remain that to 'corrupt' the system by working in the interest of the higher bidder: so when working in industry you work for $$$, lots of $$$ - and when in Govt you work for $$$, lots of Govt $$$ - How you get those $$$ will be a matter of the 'implicit' corruption and corruptive behaviour allowed. In Govt. you can manipulate the system in the interest of the $$$ which is usually for the industry (forget the consumer!); and when in industry - you work to push your company's objective: lobby for the interests of your company balance sheet- $$$ and yourself. It's all about corporate greed. Thankfully there are Saints that are not corrupt so they balance out the system. The worst thing that could happen is when the system becomes fully poised to follow 'corporate' greed and intentions. In the world of IP that is happening at some IP offices around the world, but led by the example of the current WIPO administration. EPO and OHIM seem to be OK -for the moment ....

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