« Technology and Design Maturity to Knowledge Attainment: The Space Between | Main | Morning Smoke »

Mar 30, 2009


Account Deleted

Ah, we like POGO's purported wary style, as opposed to the knee-jerk condemnation of anything private sector. That is progress, truly, ladies and gents. One other development, idling below your radar (perhaps) are the repeated attempts by the usual types of government contractors to get into the TARP and related Treasury and other-agency arena. Some have touted their neutrality from Wall Street, but some of these have had banking, investment bank, and trading houses as clients in the past, even for things as remote as cyber-security. Even that kind of relationship, some wag will say, poses a COI. Others say their contracting firms are ideal because they have no Wall Street connection, and look, they know IT and a little bit of numbers stuff, e.g., cost analysis But they have few if any of the arcane skills to evaluate bad assets or understand the private markets. (And just look at the contractor's results for government clients in such fields as shipbuilding and missile defense!) One prominent firm pitched, "Look, we are cheaper." And, "look, we already have a lot of security clearances." One claimed to be the restructuring queen consultant in the government market, but than hemmed and hawed about examples that could be asserted as proof of capabilities; this firm is waiting for the govt to fill in the blanks. None of the usual-suspects in contracting have any experience in true fiduciary roles so that they can serve as Financial Agents of the United States. That's what several of the roles are for outside parties that support Treasury in asset management and marketing and investing. So, the beat and the dithering go on. Not only can Treasury not hire enough government employees, but it also can't get enough help from "contractors" (wrong skills, COI) or FFRDCs (really unequipped but eager nonetheless) or universities (forget it).

Jim Jones

Ultimately the only fix to this is the ultimate breakdown of the system. We are reliably self-destructing, inevitable given societal norms and values.

The comments to this entry are closed.