Eric Cantor Joins Wall Street Bank
Posted by Steve Markowitz on September 2, 2014
The Wall Street Journal reported that former House Majority Leader Eric Cantor, who was defeated in a Republican primary earlier this year, will be joining the Wall Street investment bank Moelis.
Cantor was a Congressman for 14 years. During that period he was a favorite of Wall Street bank, raising about $1.4 million from these financial firms. Donors included Goldman Sachs and Blackstone Group.
Cantor’s experiences in the past 14 years make him an expert on opening doors in Washington, not on the ins and outs of investment banking. Cantor’s $1 million plus compensation package from Moelis puts a high value on those connections. This type of incestuous relationship between Washington DC and special interests is a major cause of the dysfunctional federal government. It is also offers a compelling argument for term limits and the need for a balanced budget amendment.