Is Cantor Technically A Lobbyist Yet?

Since first being elected to Congress in 2000, Eric Cantor has raised $32,386,930 and spent $30,889,639 on his reelection bids-- and on building power for himself inside the GOP caucus. He spent $5,794,611 in the current cycle, significantly more than the $392,316 his primary opponent no one had ever heard of spent. Eric Cantor, on the night he lost his primary election to Dave Brat addressed his supporters at what everyone assumed would be a victory party: "I believe in this country," he declared. "I believe there's opportunity around the next former… for all of us." He basically wanted nothing more to do with his constituents in the Richmond suburbs. As far as he was concerned the Republicans of Henrico, Hanover, Chesterfield, Spotsylvania and Culpeper counties could take their job and shove it. He announced he would be resigning on August 18 and they would have no Representative in Congress at all. Take that, ingrates!

Today was Cantor's first day at work as vice chairman and managing director of international banksters, Moelis & Co. Because of legal technicalities, he won't be called a "lobbyist" per se for a couple of years, just the guy who gives "strategic advice." He once worked as a real estate developer in his father's company but I have a feeling that private sector experience isn't why Moelis is paying him over $3 million this year-- a $400,000 base salary, $1.4 million as a guaranteed bonus and this year, a special incentive of $1.6 million. How cool is that? Wall Street owes Cantor-- despite the Financial sector having paid him $8,940,890 since he was first elected, more than to any other Member of the House other than John Boehner ($10,463,339). The closest any Democrat has come to getting that kind of love from Wall Street was Charlie Rangel ($5,501,943) and he was kicked out of his committee chair for the kind of unethical behavior that made Cantor a Republican hero. But, more than anyone else in Congress, Cantor carried Wall Street's water. There was never a single instance in which the interests of consumers, average investors or the general public ever came before the interests of the managerial class of the Wall Street banks. Welcome home, Eric!

This is as good as what the banksters did for Rahm Emanuel when he took a few months off from government work to make himself into a multimillionaire. And, look-- Cantor's contract specifically permits him to leave Moelis after just 24 months without any monetary penalties if he leaves to "take a full-time elected or appointed position in federal government, state government, or a national party." Sweet!

Two of the sleaziest and most self-serving wheeler-dealers to have darkened the halls of Congress in modern times were ultra-conservative New Dem John Breaux (LA) and racist/neo-fascist Republican Trent Lott (MS). Theoretically, the Senate became a better place when the two of them retired. But not really. Both put their connections and friendships up on the market to the highest bidder and the two scumbags are among Washington's shadiest lobbyists, working for Washington's most corrupt firm, Patton Boggs. A Russian bank, widely viewed as a criminal operation for Putin and his inner circle, Gazprombank, just hired the two of them to help them circumvent sanctions over the invasion of Ukraine.

Last cycle Paton Boggs and its lobbyists handed out just over $2,000,000 in vaguely legalistic bribes to Members of Congress, including $155,220 to Steve Israel's DCCC and $115,800 to Debbie Wasserman Schultz's DNC, $74,156 to the RNC, $42,500 to the NRCC and $36,750 to the NRSC. They're big players. And so far this cycle, they've put another $733,496 into legalistic bribes to Members of Congress. Over 10K pops have already gone out to slimy conservatives like Mark Warner (D-$18,000), Susan Collins (R-$12,750), Mark Pryor (D-$11,500) and Paul Ryan (R-$10,750).

Lott resigned from the Senate after he was taped making the kinds of vile racist comments Republicans aren't supposed to say publicly. He resigned early so he could get finished with the 1 year grace period before senators were then allowed to officially be able to become lobbyists. It was due to kick up to 2 years in 2008. So he tendered his resignation on December 18, 2007 and 3 weeks later, on January 7, 2006, he and Breaux, who had retired from the Senate in 2005 and was working as an influence peddler for Patton Boggs already, opened the the Breaux-Lott Leadership Group one block from the white House. 2 years later their firm was bought out by Patton Boggs. By the way, there are over 300 former Members of Congress currently serving as influence peddlers in DC lobbying firms. There ought to be a law… No, I mean a real one.