I don't know Eric Cantor. He may be a very nice fellow. Watching the TV from time to time one might have gotten the impression that he was a sound bite machine and that niceness was not an integral part of his gig. I do know that he was a Republican congressman from Virginia, that he had a leadership role in the House, and that he was defeated in the most recent Republican primary election. His wiki is here if you care for more.
The news that he was recently hired by a small investment bank did not come as a surprise. Neither does the news that his paychecks for the next 18 months are supposed to total $3.4 million.
I am all in favor of free enterprise and actually root for individuals to thrive financially. But, this is a bit much. There is something unseemly about "public servants" (who are nicely paid and get significant pensions) mining their fame, contacts, and insider knowledge of the system for a big payday.
So, when I become King one of the first decrees will be to institute a 90% marginal tax rate for ex-Congressman, ex-congressional staffers, and ex-high ranking government officials on the first three years of their earnings in the private sector that are in excess of their former governmental paycheck.
Well, I feel better.
A way more insightful look at the Cantor/Moelis & Co. deal can be enjoyed here.
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Tell it brother. E.
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