Caldwell

Patrick Caldwell

Reporter

Patrick Caldwell is a reporter in Mother Jones’ DC bureau. Previously, he covered domestic politics for The American Prospect and elections for The American Independent. His work has also appeared in The NationThe New Republic, and The Washington Independent. E-mail any and all tips to pcaldwell [at] motherjones [dot] com. Follow his tweets at @patcaldwell.

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Patrick Caldwell is a reporter in Mother Jones’ DC bureau. Previously, he covered all things domestic politics for The American Prospect and elections for The American Independent. His work has also appeared in The NationThe New Republic, and The Washington Independent. E-mail any and all tips to pcaldwell [at] motherjones [dot] com. Follow him on Twitter at @patcaldwell.

Surprise! Eric Cantor Lands $3.4 Million Job on Wall Street

| Tue Sep. 2, 2014 1:56 PM EDT

After Rep. Eric Cantor lost his primary to a tea party challenger in June, he could have stayed on as a lame duck, collecting his salary and voting as a full member of Congress through January 2015. Instead, Cantor decided to step down from his job as the GOP's majority leader and resign his seat early. Cantor claimed that the decision to call it quits was in the interests of his constituents. "I want to make sure that the constituents in the 7th District will have a voice in what will be a very consequential lame-duck session," Cantor said at the time, explaining that he'd timed his decision so his replacement could be seated as soon as possible.

No one believed it—on August 1, the Huffington Post's Arthur Delaney and Eliot Nelson wrote that voters would soon hear about "Eric Cantor's forthcoming finance job." A month later, their prediction has proven true: On Monday, the Wall Street Journal reported that Cantor will soon start work at Moelis & Co, an investment bank. Cantor—whose experience prior to becoming a professional politician largely consisted of working in the family real estate development business—will earn a hefty salary for his lack of expertise: According to Business Insider, he's set to make $3.4 million from the investment firm. "Mr. Moelis said he is hiring Mr. Cantor for his "judgment and experience" and ability to open doors—and not just for help navigating regulatory and political waters in Washington," the Journal reported.

Democrats sell out, too. In 2010, former Indiana Sen. Evan Bayh announced his plans to retire in 2010 in a New York Times op-ed that bemoaned the lack of bipartisan friendships in the modern Senate and attacked the influence of money in politics. Yet shortly after he left Congress, Bayh signed up with law firm McGuireWoods and private equity firm Apollo Global Management and began acting as a lobbyist for corporate clients in all but name. Less than a year later, he joined the US Chamber of Commerce as an adviser. Sen. Chris Dodd (D-Conn.) pulled a similar trick, promising "no lobbying, no lobbying," before taking a $1-million-plus job as the head of the Motion Picture Association of America, Hollywood's main lobbying group.

According to the Center for Responsive Politics, 417 ex-lawmakers hold lobbyist or lobbyist-like jobs.

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Tea Partier Staves Off Primary Challenge in Koch Country

| Tue Aug. 5, 2014 10:49 PM EDT
Todd Tiahrt (left) and Rep. Mike Pompeo (right) at a July debate in Wichita.

Rep. Mike Pompeo (R-Kan.) withstood a challenge from his predecessor, former Rep. Todd Tiahrt, in a battle for the House district that's home to Charles Koch, the billionaire GOP donor and industrialist, and his company, Koch Industries. Tiahrt was a close ally of Koch Industries during his House tenure in the '90s and 2000s, taking in more than $329,000 from the company's PAC and employees over the course of his career. But Pompeo—whom Tiahrt handpicked to replace him when he ran for US Senate (and lost) in 2010—has since become Koch's favorite son. The company endorsed Pompeo this time around. Koch's backing boosted the incumbent's monetary advantage. As of July 16, Pompeo had raised a little over $2 million, while Tiahrt had only drawn $155,000 (with just $65,000 left in the bank).

Pompeo was the incumbent, but his success is actually a win for the tea party. As a congressman, Tiahrt was a founding member of the House tea party caucus. But for his comeback attempt, he ditched his prior conservative persona and ran as a moderate, even populist Republican, arguing for the reinstatement of earmarks and questioning Pompeo's support for NSA spying. Conservative groups, including the Club for Growth, FreedomWorks, and Americans for Prosperity lined up to support Pompeo, a tea party favorite since he joined the House in 2011. There won't be a revival of moderate conservatism in Kochland anytime soon.

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