Friday, October 3, 2014

How Sweet: Bankster Consoles Crony Pol Eric Cantor

Bloomberg reports:
Eric Cantor sat in his Washington office in June after one of the biggest upsets in congressional history, getting encouragement from JPMorgan Chase & Co.’s Jamie Dimon, head of the largest U.S. bank.

Dimon talked about being fired from another bank by his mentor before rebounding to an even better seat, according to two people who were there. He reassured the Virginia Republican that his career would be just fine, too.

He was right. Cantor, 51, started this month as a managing director and vice chairman of New York-based investment bank Moelis & Co. (MC), where he’ll earn more than $3.4 million by the end of next year. With former White House officials and a Tea Party spokesman calling Cantor a sellout, half a dozen people close to him described his new Wall Street life as an extension of his principles rather than a betrayal of them. They cite a fascination with finance that goes back years before he became House majority leader, a conviction that bankers drive the economy and an enthusiasm for helping them do it better.

“Some will bemoan, ‘Oh, Eric cashed in, and this is all about him chasing money,’” said Mike Ference, Cantor’s former senior policy adviser and now a partner at Washington-based lobbying firm S-3 Group. “Smarter people get that’s not actually true. There have to be respectable men and women who run, quite frankly, the system.”


  1. The Ritual of Our Existence

    It is getting so bad, one cannot even continue to make allowances for gross incompetence and hubris on the part of The Fed. Today Bill Dudley had his James Clapper moment, and roundly denied any lack of regulatory zeal at the New York Fed. It was insensitive, arrogant, and pretty disgusting.

    “I don’t think anyone should question our motives and what we are trying to accomplish.”

    The Fed is to regulation what David Cameron's Tories are to the English people.

    That is, they may sometimes sound eloquent and publicly appear to be broad minded, informed, and responsible. But deep down you know that they are worse than useless, being self-absorbed, atavistic, conspicuously indifferent to the public, myth driveling toffs and gits. At least the Tories have the stuff to put up a proper nob like Osborne as their man. The Fed's overlords have to hide behind bubbe.

    Andrew Jackson was right.

  2. I'm in his district, I worked hard to get rid of him in the primary cause he is just like all the rest of them, frauds and crooks. I almost just decided to ignore the mess but then thought that perhaps changing my House Rep is the best, most immediate way I could have a positive effect on the Leviathan central govt. It's pathetic that that's the best we can do and may prove to be an exercise in futility, but it sure felt good to vote out just one stinking incumbent, because, alas, it so rarely happens. And it couldn't have happened to a nicer guy. Good riddance.