For Profit Lobbying Should Be Illegal But Until Then, Congressmen Who Become Lobbyists Should Lose Their Pensions

Mac Thornberry and Buck McKeon, shameless tools of the Military Industrial Complex

Last Friday, we looked at some of the speculation on which Members of the House are most likely to announce retirements over the next few months. The big giveaway for Buck McKeon, for example, was when his family started an armaments-oriented lobbying firm and bought his favorite chair that no one is allowed to sit in for the plush empty corner office. Most of the vaguely sentient retirees-- so scratch Howard Coble and, if he finally goes for it, Ralph Hall-- will become lobbyists. Lobbyists is, literally, the only occupation in America rated as more untrustworthy than serving in Congress! Just right for crooks like McKeon-- and he's far from the only one. Last week, Kevin Bogardus took a look for The Hill at which Members are looking towards K Street-- and which ones K Street is cruising back.

K Street prefers conservatives with records for corruption, so they're especially excited about Blue Dog Jim Matheson and low grade GOP crooks Tom Latham and Frank Wolf, all three of whom have recently announced they were done. (All 3 were looking at very difficult reelection prospects.) Not every firm is ready to hire just any garden variety corrupt congressman these days, though.

“Just having a congressman doesn't get you much in the world. But if you got a name with the right connections, they can work for magic for you,” said Larry Latourette, a principal at Lateral Link… Retiring lawmakers who accrued seniority and a bipartisan record are the top prizes for K Street.

“The keys for this for any of these people are if they have any seniority, if they can transition to the private sector and if they are bipartisan,” said Nels Olson, vice chairman at Korn/Ferry International. “If you don't, it's going to be a tougher road. It's a supply-demand issue.”

Olson said the financial services, healthcare and tax are the areas of expertise “most in demand.” Lawmakers that are well-versed in those fields could make a soft landing on K Street.

Headhunters said that Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee, would have been a top target for many law and lobby firms. But Obama nominated Baucus for U.S. ambassador to China, taking him out of the job pool.

“Baucus, given his track record and bipartisan reputation, would have demanded top dollar,” Olson said.

“Max Baucus would have been the big dog if he had gone to the lobbying and government relations sector out of this class of lawmakers. Now that he has taken the road to China, others who are retiring will have to step up their game,” Jones said.

Other former members are considered good candidates for K Street. Matheson is one of the remaining Blue Dog Democrats, a popular breed among lobby shops for their business support in the House.

“Jim Matheson is a blue dog Democrat and has been helpful to the business community, so that's appealing to K Street,” said a Republican lobbyist.

Further, Latham is considered close to Speaker John Boehner (R-Ohio), which could help if he chooses a lobbying career.

“I think Boehner will stick around, and you cannot get a better guy [Latham]. He's certainly at the top of everyone's list,” said the lobbyist.

Other prospects include retiring Sens. Saxby Chambliss (R-Ga.) and Mike Johanns (R-Neb.). Chambliss will have almost two decades of service in the House and the Senate when he retires, while Johanns is also a former Agriculture Secretary during the George W. Bush administration.

“I see Chambliss or Johanns fitting in extremely well with a law firm that lobbies in Washington. They would fit in like a glove,” said Ivan Adler, a principal at the McCormick Group.

A career in influence can be lucrative for a former lawmaker.

Ex-House members can draw anywhere between $250,000 and $500,000 in annual salary, with the pay scale rising further depending on seniority, according to headhunters’ estimates. Former senators fare better, taking home between $500,000 to $1 million in a year.

That is a big step up from congressional pay, which is $174,000 per year for a House member or senator.

Major trade associations often pay even more. Former Sen. Chris Dodd (D-Conn.), chairman and CEO of the Motion Picture Association of America, earned more than $2.4 million in compensation for 2011, according to the Hollywood lobby’s tax form for that year.

Yep, sometimes handing out the bribes is more lucrative than taking the bribes. Especially when the retiring congressmember can game the system before he leaves. McKeon ingratiated himself to the War Industry by getting Congress to end sequestration for them. He also stuck a knife in the back of one would-be successor to his chair at Armed Services, Randy Forbes, on behalf of a more pliant sap, Mac Thornberry, who is the favorite candidate of the weapons industry and war contractors.