When you see fraud shout fraud!
INVERSE SKIN IN THE GAME/CRONY CAPITALISM. Peter Orszag is one of those Obama cronies who wrote the report about Fannie Mae being safe (while I was shouting that it was sitting on dynamite) and, thanks to absence of skin-in-the-game, or inverse skin-in-the-game, got a job in the Obama administration (Chapter 23 in ANTIFRAGILE) after Fannie Mae went bust (and had a taxpayer backup).
Now as predicted he is making >$3 million from Citibank a firm that the taxpayer saved!
Here is how his taxpayer-backed income was revealed.
Peter Orszag and ex-wife in contentious court fight over child support
The former head of OMB reveals he made more than $3 million last year.
Washington Post
via (1) When you see fraud shout fraud! INVERSE SKIN IN… – Nassim Nicholas Taleb.