The major economic players in each of the five presidential administrations of the transition were from or had ties to Wall Street. For example, Hank Paulson, Treasury Secretary at the time of the crisis, was previously the head of Goldman Sachs. You would think he would be in favor of legislation that benefits Wall Street, including deregulation, even if it were a conflict of interest. Another conflict of interest also concerns academic institutions, such as Harvard and Columbia. These individuals teach the benefits of deregulated markets while serving as financial services consultants and board members