They turned to an industry of power-brokering little known outside the capital: strategic consultancies. Retiring leaders often open firms bearing their names: Madeleine Albright has one, as do Condoleezza Rice and former Secretary of Defense William S. Cohen. Their strategic consultancies tend to blur corporate and governmental roles. This obscure corner of Washington is critical to understanding how a President Joe Biden would conduct foreign policy. He has been picking top advisers from this shadowy world.