Why I'm Joining the Private Sector: Neil Barofsky

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Sept. 9 (Bloomberg) -- Bloomberg Contributing Editor Neil Barofsky discusses his decision to join Jenner & Block and his motivation to move to the private sector. He speaks on Bloomberg Television's "Market Makers."

You have been an independent voice of reason, the truth teller.

How do you take that to the private sector?

It is not necessarily easy.

When i did my search, had to find the right place that would allow me to do that, allow me continued to do the work in a place where i can naturally continue to bring about accountability and be a voice.

I have talked with a fee to former -- a few former regulators.

You're not the first two has gone to fight: practice.

They all feel the same way the -- you are not the first to go white collar practice.

They feel the same way.

This is a firm that has stood up to some of the interests on wall street.

When you look at the remarkable lehman report, that was an example of a firm that them up when the crisis hit and a lot of law firms went scurrying in different directions, they went straight to the truth.

That is one of the more remarkable things that came out of it.

You sat with erik and i and talked about how much these bankers make and now you are taking a turn to be on the private side to potentially make significantly more money than you did when you were a tarp inspector.

What do you make of that?

Not good, yeah.

Financial motivation is certainly part of it.

I love being in academia and on here, but sometimes you get frustrated being on the sidelines.

I am a trial lawyer by heart, a hardened investigator by heart.

What happens if the firm asks you to represent one of the six big banks?

To represent one of the ceos of those financial institutions?

More likely my practice will be adverse to them in civil practice, complex financial estimates.

But it is -- financial instruments.

But it is a white-collar institute that i am joining.

I will take that as it comes.

I'm taking that call was not

This text has been automatically generated. It may not be 100% accurate.


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