After Defeat by Tea Party, Eric Cantor Gets Paid for Service

Eric Cantor was forced to “retire” from Congress before he planned to do so, but that doesn’t mean he has lost his reward. His years of faithful service to the financial establishment must be repaid.

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You may remember that the same media that praised Occupy Wall Street suddenly got all concerned about Wall Street’s well-being after Eric Cantor was defeated by a candidate who ran on opposing crony capitalism. As I posted in “Washington Post Weeps for Big Business after Cantor Loss,”

It is amazing how all we hear about Big Business and the Republican Party is how evil and influential the Koch Brothers are. The Republicans are despised because they serve corporate interests. Over and over again the Republicans are hammered for being the party of Big Business.

And then the Tea Party wins a victory and suddenly it is bad news that Big Business no longer has the Republican Party on its side.

So now, Eric Cantor’s new job is reported and the media treats it as if it was just a piece of trivia, not a window into our corrupt government. Thus, NPR’s blog, “It’s All Politics,” reports, “Eric Cantor Joins Wall Street Investment Bank.”

Former House Majority Leader Eric Cantor this week begins working at the boutique investment bank Moelis & Co.

Cantor will serve as vice chairman and managing director, and will also be elected to the firm’s board of directors.

Cantor, 51, and firm founder Ken Moelis announced the decision in a joint interview Monday.

A statement on the Moelis website said, “Cantor will provide strategic counsel to the firm’s corporate and institutional clients on key issues. He will play a leading role in client development and advise clients on strategic matters.”

Cantor does not have a Wall Street background but was considered a friend of Wall Street while he served in Congress.

Cantor, who will continue to live in Virginia, will open a new office for the firm in Washington, D.C., in addition to having an office at the company’s headquarters in New York City, according to The Wall Street Journal.

This is called hiding in plain sight. The media deals with news that exposes the corruption of Washington DC by reporting on it accurately but pretending this doesn’t reveal anything about how politicians are bought and sold.

Do you think Eric Cantor didn’t have some inkling that, if he played his cards right, he could get a lucrative Wall Street job? Notice, he has no experience, but not only is he hired, and put on the board, but an entire office at a new location is created for him.

We now have one more lobbyist for the banks. But at least he’s not lobbying for them as a member of Congress any more.