Robert E. Rubin, Lawrence H. Summers, Timothy F. Geithner. Jacob J. Lew and Janet L. Yellen in the New York Times:
We were fortunate that during our tenures in office no effort was made to unlawfully undermine the nation’s financial commitments. Regrettably, recent reporting gives substantial cause for concern that such efforts are underway today.
The nation’s payment system has historically been operated by a very small group of nonpartisan career civil servants. In recent days, that norm has been upended, and the roles of these nonpartisan officials have been compromised by political actors from the so-called Department of Government Efficiency. One has been appointed fiscal assistant secretary — a post that for the prior eight decades had been reserved exclusively for civil servants to ensure impartiality and public confidence in the handling and payment of federal funds.
These political actors have not been subject to the same rigorous ethics rules as civil servants, and one has explicitly retained his role in a private company, creating at best the appearance of financial conflicts of interest. They lack training and experience to handle private, personal data — like Social Security numbers and bank account information. Their power subjects America’s payments system and the highly sensitive data within it to the risk of exposure, potentially to our adversaries. And our critical infrastructure is at risk of failure if the code that underwrites it is not handled with due care.
More here.
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