Page 6 $ïnrtla«i» (Dbserüer June 15, 2011 Opinion articles do not necessarily represent the views o f the Portland Observer. We welcome reader essays, photos and story ideas. Submit to news@portlandobserver.com. New Prices Effective May 1,2010 Martin Cleaning Service » & Carpet & Upholstery Cleaning Residential & Commercial Services <jO\ B. S'— Minimum Service CHG. « -S ' OUSç $45.00 A small distance/travel charge may be applied / C A R PE T CLEAN IN G 2 Cleaning Areas or more $30.00 Each Area Pre-Spray Traffic Areas ( (includes: I sm all H allw ay) 1 Cleaning Area (only) $40.00 Includes Pre-Spray Traffic Area (Hallway Extra) Stairs (12-16 stairs - With O ther Services)-. $25.00 C s ) 11 Area/Oriental Rugs. $25.00Minimum Area/Oriental Rugs (Wooly. (Requiring Extensive Pre-Spraying) U PH O LSTE R Y CLEANING Sofa: $69.00 Loveseat: $49.00 Sectional: $109-$139 Chair or Recliner: $25 - $49 Throw Pillows (With Other Services)-. $5.00 ADDITIONAL SER V IC ES • Area & Oriental Rug Cleaning • Auto/Boat/RV Cleaning • Deodorizing & Pet Odor Treatment S v • Spot & Stain Removal Service • Scotchguard Protection • Minor Water Damage Services SEE CURRENT FLYER FOR ADDITIONAL PRICES & SERVICES Call for Appointment (503) 281-3949 I I ...F or T $40.00Minimum Heavily Soiled Area: Additional $10.00 each area ETHICS RULES Revolving Door Shows Coziness with Wall Street Strengthen and simplify the ethics rules by M ichael S mallberg If you're looking for evidence of the revolving door that spins between the federal government and Wall Street, look no further than Daniel Gallagher, President Barack Obama's recently announced nominee for Securities and Exchange Commission commis- sioner. Gallagher certainly appears quali fied for the job. He previously worked at the SEC as a counsel to then- Chairman Christopher Cox, and later played a key role in organizing the SEC's response to the financial cri sis. Yet Obama's nomination of Gallagher to help lead the agency during a critical time in its history is also the latest exam ple of the agency’s coziness to the industry it oversees. Gallagher is currently a partner at WilmerHale. The pricey law firm's high-profile clients have included Goldman Sachs, JPMorgan Chase, Citigroup, and other Wall Street gi ants regulated by the SEC. If the tor, just released a new report and matter to the enforcement division Senate confirms him, this would be database showing that hundreds of because, "If you've known some G a lla g h e r's seco n d spin former SEC employees have recently body or even if they didn't really through the revolving door — taken jobs representing clients be know them but you know they he previously left WilmerHale fore the SEC. worked here... Well, they should to join the SEC in January 2006, All told, the project's database hopefully be doing the right thing." only to return to the firm in shows that 219 former SEC employ A few months after the report 2010. ees filed 789 statements between 2006 was issued, the Inspector General And he would be the latest and 2010 announcing their intent to told Sen. Charles Grassley (R-Iowa) on an e v er-ex p an d in g list o f appear before the SEC or communi that his office had opened another WilmerHale alumni at the SEC, in cate with its staff on behalf of private investigation into allegations that cluding the current general counsel, clients. One former employee had to the SEC may have failed to take deputy general counsel, associate file 20 statements during this time appropriate action in a matter in general counsel, corporation finance period in order to disclose all his volving a law firm that has recruited division director, enforcement divi clients and the issues on which he numerous former SEC employees. sion chief counsel, and deputy secre expected to appear before the SEC. Congress and the SEC must tary. Another former employee filed his strengthen and simplify the ethics O f course, the revolving door first statement just two days after rules for the agency's former em spins in both directions. Many leaving the agency. ployees, including making all post former SEC employees leave the Last year, the SEC Inspector Gen employment statements publicly agency to join WilmerHale and other eral issued a report on the agency's available online, and extend the same legal, accounting, and consulting botched investigation o f Allied post-em ploym ent regulations to firms that represent clients in the Capital, which was represented by other financial watchdog agencies. securities industry. Several recent none other than WilmerHale. Two Now that the SEC has been given reports by the SEC Inspector Gen of the WilmerHale attorneys who even greater authority to protect eral have raised troubling questions represented Allied were former se investors and markets from the next about whether the promise of future nior officials in the SEC's enforce financial crisis, it's more important em ploym ent representing W all ment division. than ever for the public to see whose Street causes some SEC officials to The Inspector General found that interests the agency is truly repre treat potential employers and their a current associate director in the senting. clients with a lighter touch. SEC's compliance office who knew Michael Smallberg is an inves The Project On Government Over- one of the WilmerHale attorneys tigator fo r the Project On Govern sight where I work as an investiga said he declined to refer the Allied ment Oversight.