By most objective measures, Eric Cantor is a bum. Democrats have no use for anything he “accomplished” as a congressman, and the Republican primary voters just threw him out of office for insufficient zeal. It’s true that he climbed the leadership ladder quite quickly, but right when he was on the cusp of success, he lost his job.
Yet, he doesn’t have to worry about a thing. His new compensation package is worth $3.4 million a year. He now has an office in New York City and he’s opening up a new branch of the Moelis & Co. investment bank in DC. He’ll also be on their board of directors.
As Politico says:
First elected in 2000, Cantor was seen as a major ally for Wall Street on Capitol Hill. He was a top recipient from the private equity and investment industry during 2013 and 2014, according to the Center for Responsive Politics.
In its statement, Moelis & Co. praised Cantor’s work, including his efforts to lower taxes and “eliminate excessive regulation.”
As of 2010, the House Majority Leader makes $193,400 annually, so Cantor is now making more than seventeen times as much money as he was making in Congress.
This is not how most bums fare.
A thoroughly sickening and nauseating development, but of course completely expected—by literally every knowledgeable person. One has to wonder how the “value” of Cantor to this particular swarm of Wall Street Boyz was calculated. How is this Cantor coronation sold to the plutocrats who put their millions into this “bank”?
If there are historians in the future, this sort of obvious, open and tolerated (indeed, encouraged) corruption of our political (and economic) system(s) will be seen as a clear sign of systemic failure, and our abject failure to address such obvious corruption will also have to be examined and explained.
Total inability to reform such national degeneration and decay clearly marks a failing state. We are paralyzed as a people. Pass the vodka, as the Russian intelligentsia of 1890 would say….
Quibble: his Rolodex will be earning 3.4 million.
I’m shocked, shocked to see that a former congressperson will now make millions as a pimp.
He should see James O’Keefe about buying a uniform for the job.
NO SHOCK IN THE LEAST.
None at all
His stint in Congress was merely an elaborate job interview. Apparently, they liked what they saw. Smooth sailing ahead for our “Free” market man.
Has anyone read anything about this company? If not, you can read these:
http://en.wikipedia.org/wiki/Moelis_%26_Company
http://en.wikipedia.org/wiki/Ken_Moelis
This place is a natural for him, all things considered. It also looks like the main Moelis & Co. just went public earlier this year. Though his pay looks outlandish viewed against, even now after the announcement, what Wall Street thinks the company is worth.
…but, I though that Cantor was against welfare?