Sunday, September 7, 2014

Why Today’s Politicians Make Tomorrow’s Perfect Lobbyists

“Let’s look at Cantor’s résumé. Let’s look at all his investment-banking experience. Let’s look at his capital-markets experience. He has none. He has no experience or skills that would qualify him to be even an intern at a fifth-tier firm in the financial industry. I mean, come on! I love the spin. They’re pushing back this morning. They’re saying, 'This is really different! This isn’t like everybody else' ...

“They’re guaranteeing him $3.8 million. You don’t guarantee someone $3.8 million because you’re training him to be an investment banker.

“Wall Street is after what it’s always buying in Washington: access, influence, and unfair advantage. And Cantor is a big catch for anybody who wants access. Look, if you’re in congressional leadership for X number of years, you know plenty that’s worth a lot of money. If you’re the majority leader, who’s in charge of the agenda and vote counting? One of your jobs is to make sure you’re doling out favors to people. There are dozens and dozens of House members indebted to Eric Cantor for the things he’s done for them. You’re worth a lot.

“In addition, Eric Cantor knows why some things got done and other things didn’t get done. He knows why someone voted for or against a bill or amendment. He knows how to strategically target everybody in the House on the issues that anybody cares about in a way that’s close to unique. He’s not going to crudely do it in a way that puts the scarlet-L lobbyist on his lapel. He and the rest of the influence peddlers at the highest level of government work the shadows and do indirectly what the law prohibits them from doing directly.

Dennis Kelleher