Each week, I receive feedback from readers and sources about Wall Street’s biggest characters and concerns. I’ll be engaging with some of those questions here—in addition to a few observations of my own.
Bill, you’re familiar with all the big private equity guys. What are they thinking after one of their own, former Carlyle Group co-C.E.O. Glenn Youngkin, won the governor’s mansion in Virginia?
The truth is this is not anything particularly new. The Wall Street crowd has long been making the pilgrimage into government once they have made their loot. Right off the top of my head, I can think of Mitt Romney, a founder of Bain Capital who was governor of Massachusetts and then the 2012 Republican presidential nominee. Jon Corzine, the former senior partner at Goldman Sachs, was the governor of New Jersey and a U.S. Senator from New Jersey. His former Goldman partner, Phil Murphy, just squeaked by in his re-election bid as New Jersey governor.