Washington's revolving door continues to work well. This time it is former SEC Commissioner Cynthia Glassman
who is making a return visit to Washington's bureaucracy less than three months after leaving her last post. However, in her new post she will not be having the same influence over the fund industry as she did before.
Last week, President Bush nominated her to be undersecretary of commerce for economic affairs. Glassman left Ernst & Yount to join the SEC at the end of January 2002 after being nominated by President Bush. She served as the Acting Chariman of the SEC during the summer of 2005 before the confirmation of current chairman Christopher Cox. She had resigned from the SEC last May.
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