Partnership for Public Service

That's easily a goal we all share, even in the most divisive political times.

This is why we're happy to be joined today by Max Stier from the Partnership for Public Service, where he's a founding member and CEO.

To quote from the organization's website, they advocate for and support initiatives and reforms that seek to transform the way government works, empowering it to better serve the public both now and in the future.

Max is an attorney and public servant who has worked in all three branches of government and for both Democratic and Republican administrations, including the Reagan administration, H.W. Bush, Clinton, and George W. Bush.

I didn't really use the stuff that was in the newspaper.

The Partnership for Public Service was my go-to place.

They've been giving awards to civil servants for 25 years, and they have a database of thousands of these people who've done really interesting things.

And I started with the bucket.

And I had...

My secret agent is a guy named Max Steyer who runs the Partnership for Public Service, which created the obligation.

They're the ones who got the laws passed that required presidential transitions.

Max Steyer, he's someone you should know.

You know, there's been so much criticism of government, and so many attempts, especially in recent years, to portray government as just filled with waste, fraud, and abuse, spending money that doesn't benefit society, and filled with people who are lazy and unknowledgeable.

And hearing things like that is tremendously disturbing to me because I know that that is not what our government is or has been, and that we're immensely fortunate as a nation to have a government that has functioned very well and filled with remarkable people who, when you start to look at their contributions in detail and, you know, there are organizations like the Partnership for Public Service that give awards every year to, uh, individuals in government who have made contributions.

And you listen to the stories of the contributions made by diligent public servants who really know their stuff, what they have protected society from, you realize that this is an asset our nation should value, and I would like to see people stop demeaning the contributions of the incredible people who work in government.

Well, that's how we bet.

This comes amid Bloomberg reporting that Treasury senior ranks have seen heavy turnover since Besson's early 2025 arrival.

Seven Senate-confirmed officials, including the Deputy Secretary and two undersecretaries, have departed the agency for the Partnership for Public Service.

So what does this all mean for your portfolio? Zervos noted the post ends in April, which signals these being tapped to lead or contribute to a specific project.

We suspect that this project will involve an expansion of the Treasury's buyback program at a minimum and at a maximum, the development of a Fed Treasury Accord 2.0, which may seek to truncate the 75-year-old regime of independent monetary policymaking that the original Fed Treasury Accord of 1951 ushered in when it ended nine years of yield curve control that capped T-bill yields at 0.375% and T-bond yields at 2.5%.