Rep. Baker resigns, set to take job with those he regulated (Hedge Funds) the next day. (1 Viewer)

TPS

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http://www.nola.com/news/index.ssf/2...e_congres.html

Looks quite a bit like what Tauzin did. I thought there was a 1 year moratorium on taking a lobbying job when you left congress, but that must not have passed. Or something.

Along with McCrery's resgination and Jefferson's indictment, Louisiana will lose the majority of our seniority in Congress. Another reason that keeping Mary in the Senate is paramount to our future.

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Mr. Sparkle

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I think he is barred from directly lobbying Congress for 1 year, but that doesnt mean he can't take the job and do everything BUT directly lobby congress during that time. He's been there for more than 20 years - hard to blame the guy for cashing out, I guess, especially since the GOP is not likely to win back the House anytime soon. If anything, they're going to be even further in the minority for the foreseeable future. Hard to go from Committee Chairman to Second Banana.


Still, it's a really tough blow for the LA delegation.

And I agree about Mary. I really like John Kennedy, but until we're ready to stop asking for more Federal assistance, we can't afford to lose any more seniority. Especially with Vitter somewhat, uh, neutered.
 

SaintsFan11

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He's been there for more than 20 years - hard to blame the guy for cashing out, I guess, especially since the GOP is not likely to win back the House anytime soon. If anything, they're going to be even further in the minority for the foreseeable future. Hard to go from Committee Chairman to Second Banana.
I can blame him. I don't think he's any worse than anyone else, but I think it's pretty disgusting that most of these guys "retire" to jobs where they lobby for the industries they previously regulated (of course, there was no conflict of interest).

Serving in government is now less of a public service and more of an internship for a lobbying firm.
 

Mr. Sparkle

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I can blame him. I don't think he's any worse than anyone else, but I think it's pretty disgusting that most of these guys "retire" to jobs where they lobby for the industries they previously regulated (of course, there was no conflict of interest).

Serving in government is now less of a public service and more of an internship for a lobbying firm.
20 years is one hell of an internship.

As for the industry he went to work for, if he's not going to stay in Congress forever, then it makes sense to go to the industry you 're most familiar with. I guess he could always open a restaurant or start a publishing house or start over in some random industry, but if it were me, I'd be looking for a job in the industry where I had the most knowledge/interest/leverage, etc. :dunno:
 

SaintsFan11

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20 years is one hell of an internship.

As for the industry he went to work for, if he's not going to stay in Congress forever, then it makes sense to go to the industry you 're most familiar with. I guess he could always open a restaurant or start a publishing house or start over in some random industry, but if it were me, I'd be looking for a job in the industry where I had the most knowledge/interest/leverage, etc. :dunno:
You don't think it's something of a conflict of interest? My guess is that he didn't retire and then suddenly find out that this job was available. Let's not forget Rep. Tauzin who wrote the prescription drug bill that was so friendly to the drug industry and then quit to go be the industry lobbyist and make $2.5M a year.
 
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Mr. Sparkle

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You don't think it's something of a conflict of interest? My guess is that he didn't retire and then suddenly find out that this job was available.
It's no more of a conflict of interest than when a state court judge goes into private practice with a law firm. Or when a prosecutor goes into private practice as a criminal defense lawyer. It happens all the time. Why would anyone ever take a public job if they knew they could never take another job in a related field after that?

And, you are correct, the job came available first and then he announced he was leaving Congresss (is that really "retiring"? Has he used that word?). My understanding is that the firm came to him, he announced that he was going to interview with them (as per the new lobbying rules), and then they came to a deal - which led to this second announcement.

Believe me, I am sorry to see him go, but, when you've been a Congressman for over 20 years and and you're still only making slightly more than a first year associate at a big DC law firm, I can't begrudge the guy taking a better paying job.
 

Mr. Sparkle

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On the bright side, there are plenty of members of Congress that are in no danger of being hired away by Wall Street -->


from today's hearings, in which Rep. Marcy Kaptur tries to ask Fed Chairman Ben Bernanke about her plan to ask Wall Street leaders to "pay back" the US treasury for all these losses, but confuses him with Treasury Sec. Paulson:


http://www.youtube.com/watch?v=YLzXkhYTk-U

:0030:
 
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