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posted by n1 on Thursday September 04 2014, @11:32AM   Printer-friendly
from the most-qualified-candidate dept.

Alex Rogers reports at Time Magazine that nearly three months after his historic primary defeat, former House Majority Leader Eric Cantor will be joining investment bank Moelis, earning $3.4 million for the next year and four months and following in the long tradition of lawmakers profiting on their knowledge of the regulatory and political landscape post-Congress. The move to Wall Street wasn’t unexpected as Cantor, one of the Republican party’s most prolific fundraisers, had close ties to the financial services industry.

But Cantor won’t be making as much as he might have as a lobbyist, as the seven figure salaries of some former congressmen can attest. Billy Tauzin, a Louisiana Republican congressman who retired in 2005, made $11.6 million in a single year in 2010 while helping to craft President Obama’s Affordable Care Act as leader of the Pharmaceutical Research and Manufacturers of America. Tauzin did “what loads of other politicians have done -- trading on his expertise and connections to amass great personal wealth,” says Sheila Krumholz. “He’s just more successful at it than others.”

Other beneficiaries of the revolving door include former Oklahoma Rep. Steve Largent whose total compensation as CTIA-The Wireless Association’s top lobbyist was reportedly $2.7 million and Former Connecticut Senator Chris Dodd who makes nearly $3.3 million a year as the head of the Motion Picture Association of America - a post Dodd took after promising never to become a lobbyist.

 
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  • (Score: -1, Offtopic) by Anonymous Coward on Thursday September 04 2014, @11:40AM

    by Anonymous Coward on Thursday September 04 2014, @11:40AM (#89292)

    soilent newx is a shit rag for dick munchers
      F U C K
        S O Y L E N T

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  • (Score: 3, Insightful) by BasilBrush on Thursday September 04 2014, @12:01PM

    by BasilBrush (3994) on Thursday September 04 2014, @12:01PM (#89303)

    This bodes well for SolentNews - even the trolls are moving from Slashdot!

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    • (Score: 4, Funny) by mechanicjay on Thursday September 04 2014, @12:03PM

      by mechanicjay (7) <{mechanicjay} {at} {soylentnews.org}> on Thursday September 04 2014, @12:03PM (#89305) Homepage Journal

      You know, at first I was dismayed at the uptick in negative, non-constructive posts over the last couple weeks, but perhaps you're right. Maybe we've just become popular enough for people to want to piss in our cereal. Thank you for the enlightened perspective!

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      • (Score: 0) by Anonymous Coward on Thursday September 04 2014, @01:43PM

        by Anonymous Coward on Thursday September 04 2014, @01:43PM (#89342)

        Maybe because 4-5 people are dominating the queue. So whatever pisses them off gets into the queue. The rest of us are not submitting often enough. So we are going to get a lot of stories that are basically c&p from big green. I am saddened by it frankly. There are plenty of other interesting things going on out there than what some jackass in washington is doing. We could be checking back in on the libressl guys. Picking one of the dozens of cool projects from hackaday. Going in depth on one of the cool things at andatech (who just left his own site!). You know the people doing the things that the guys in washington are trying to stop.

        These sorts of stories are nice. But do little other than piss people off. They start fights between R&D's about how their team is better. A better discussion would be how do we remove the value of having money from politics. Is that even possible? My 2 cents would be to have 1 term limits. As that would basically make everyone a dead duck. Not beholden to 'need 3.8 billion dollars to get elected'. However, that is but one small facet of this and creates its own set of issues.

        • (Score: 0) by Anonymous Coward on Thursday September 04 2014, @02:03PM

          by Anonymous Coward on Thursday September 04 2014, @02:03PM (#89346)

          We could be checking back in on the libressl guys. Picking one of the dozens of cool projects from hackaday. Going in depth on one of the cool things at andatech

          I suggest you go to pipedot.org for these kind of things :)

          • (Score: 0) by Anonymous Coward on Thursday September 04 2014, @05:33PM

            by Anonymous Coward on Thursday September 04 2014, @05:33PM (#89420)

            Aw man, looks like |. stopped scraping our posts

      • (Score: 2) by c0lo on Thursday September 04 2014, @10:14PM

        by c0lo (156) Subscriber Badge on Thursday September 04 2014, @10:14PM (#89542) Journal

        people to want to piss in our beans.

        FTFY

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