In today's episode of rewarding failure we have the resurgence of former SEC Chair Christopher Cox. The going sentence for falling asleep at the wheel and providing fertile ground for the greatest financial frauds in history is a partner position at law firm Bingham McCutcheon in the OC. Cox may not have impressed many during his stint as SEC babysitter but he managed to mesmerize Bingham chairman Jay Zimmerman.
"I sat down with him in D.C. and I thought, 'This is an incredibly impressive guy. He's very smart, he has a tremendous pedigree and he's a real star in Orange County.'"
"There's a mixed view of Chris's tenure at the SEC," Zimmerman said. "But when you look at his broader record, this is an exceptional talent. We're in a talent business, and the opportunity to get him was extraordinary."
Indeed there is a mixed view. Inmates Madoff and Stanford must have spoken very highly of Cox's time standing guard in DC.