President Donald Trump’s former acting chief of staff, Mick Mulvaney, once bet that he could dismantle a groundbreaking consumer regulatory agency. Now, he is betting that he can monetize his knowledge.
Mulvaney is starting a hedge fund, Exegis Capital, with a focus on financial services regulations. In addition to serving as director of the Office of Management and Budget, Mulvaney was acting head of the Consumer Financial Protection Bureau, an agency he once denounced as a “sick, sad joke” while serving as a South Carolina Congressman.
“Politics is going to be a very turbulent thing for the near future, and I think it creates opportunities for those who understand how Washington works,” Mulvaney said on an S&P Global Market Intelligence podcast last week, during which the new venture was announced.
In his time at the helm of the CFPB, Mulvaney pushed to have its budget