Greedster Cantor goes where he belongs

Political Wire - Former House Majority Leader Eric Cantor (R) plans to join boutique investment bank Moelis & Co. as he embarks on a new career on Wall Street, the Wall Street Journal reports.Bloomberg says Cantor will be paid at least $3.4 million this year

Jon Walker, Firedog Lake - Eric Cantor’s new job sends a clear message to all incumbents: toe the Wall Street line and you’ll be rewarded later

Bribing people with big bags of money or expensive gifts is so 20th century. Not only is it gauche to carry around suitcases full of hundred dollar bills, it is also stupid. Basically the only time American politicians ever get in trouble for corruption is when they accept really expensive Rolexes while in office or are literally caught with a freezer full of cash.

The perfectly legal way to influence policy makers is to simply let it be known that if they hold favorable voting positions, they will very likely be rewarded with lucrative jobs. There is no need for a quid pro quo or even explicit promise as long as a clear and consistent norm is established. This is what happened to Rep. Eric Cantor (R-VA). From Market Watch:

Cantor, whose Republican primary loss to little-known Dave Brat stunned Washington, will open an office for Moelis & Co. in the nation’s capital and also work out of its New York City office.

This was about more than just Cantor. Every member of Congress has seen this news and gotten the implied message.

We have 20th century anti-corruption laws that are completely inadequate for 21st century issues of good governance. If you want to know why there is such a huge disconnect between what regular people want on economic policy and our what our “democratically elected” legislature vote for, this is likely at the heart of the problem.

 Earlier stories

House Majority Leader Eric Cantor (R-VA) claimed Sunday that he didn't expect Social Security, Medicaid and Medicare to be around when he retires. "What we [House Republicans] have said is this: We'll protect today's seniors and those nearing retirement, but for the rest of us, all of us, who are 54 and younger, I know the programs are not going to be there for me when I retire," Cantor told Fox News' Chris Wallace. "They can't," he added. - OpEd News

U.S. House Republican Leader Eric Cantor said he will not support President Barack Obama's proposal to renovate U.S. schools as part of the administration's bill to spur job growth. "Anything that is akin to the stimulus bill I think is not going to be acceptable to the American people," Cantor said. He added that Obama should focus instead on cutting federal regulations that he says kill U.S. jobs. Cantor and other Republican leaders voted for over $120 billion to rebuild Iraq and Afghanistan, funds that were used to construct and repair schools, roads, bridges, and other critical infrastructure. But now these same Republicans are saying there's not a penny left to help kids and jobless Americans.
Cantor voted for $120 billion in public works for Iraq and Afghanistan, but opposes any for U.S. schools