Elizabeth Warren proposes a 4-year ban on government officials going to work for "market dominant" companies

If you leave a senior US government position, Elizabeth Warren wants you to wait at least four years before taking a job at a "market dominant" company -- any company with a $150b (or larger) market cap, or that controls "the product or labor supply in their industry."

Violating companies will be fined 1% of net worldwide annual profits for a first offense, 2% for a second offense, at at least 5% for subsequent violations.

The ban also extends to any DOD contractor taking in $5m/year or more from the Pentagon.

I am a donor to both Elizabeth Warren's and Bernie Sanders' campaigns.

Its not just Facebook. Today, it is standard practice in Republican and Democratic administrations for giant mega businesses like Pfizer, Google, BP, Citibank, AT&T, Boeing, and Comcast to vacuum up anyone and everyone who leaves one of their government regulators in an obvious effort to leverage their new hires political connections and use the allure of potential future job offers to extract favorable treatment. Take just a few recent examples of the nations largest companies giving cushy jobs to the very people who went easy on them while serving in government or helped them escape harsh penalties. All of this hiring is perfectly legal right now but it shouldnt be.

In 2018, Wells Fargo scooped up HUDs Acting General Counsel Beth Zorc to be its Head of Public Policy, as the bank scrambled to recover from a parade of scandals. By the end of the year, it had negotiated a fine that represents 2% of its annual profits to resolve dozens of investigations into its employees opening bank accounts in customers names without their permission.