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Five House members and two senators who left office in January are already working for lobbying firms that make millions peddling influence on Capitol Hill
It didn’t take long for these lawmakers to cash in on their careers as public servants. Less than a month after leaving office, at least five former House members and one U.S. senator are already on the payroll at firms that make millions lobbying their congressional colleagues.
The findings, provided to Vocativ by the Center for Responsive Politics, a government watchdog group, also show that a second senator who left office at the beginning of January, Alaska’s Mark Begich, took the extra step of starting his own public affairs consulting firm, which has already secured clients in health care and aviation.
7) Congress is a stepping-stone to lobbying
Congress is no longer a destination but a journey. Committee assignments are mainly valuable as part of the interview process for a far more lucrative job as a K Street lobbyist. You are considered naïve if you are not currying favor with wealthy corporations under your jurisdiction. It's become routine to see members of Congress drop their seat in Congress like a hot rock when a particularly lush vacancy opens up. The revolving door is spinning every day. Special interests deplete Congress of its best talent.
itigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi, Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these “golden parachutes” ensure more financial insiders in policy positions and favorable treatment toward Wall Street.
originally posted by: Glassbender777
I guess im trying to wrap my head around these stupid Lobbying firms. Are these guys pretty much just up there, like car salesman, tying to wine and dine as many as politicians as possible. How do these companies pay lobbist, because they secured a dinner, and maybe won the vote. They should totally outlaw any and all lobbying. but I guess thats like trying to tell someone starving not to eat.
originally posted by: AlaskanDad
a reply to: Glassbender777
Oh but it gets worse:
Wall Street Pays Bankers to Work in Government and It Doesn't Want Anyone to Know
itigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi, Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these “golden parachutes” ensure more financial insiders in policy positions and favorable treatment toward Wall Street.
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