Former Senators Now Lobbying For Sanctioned Russian Bank
If you think Eric Cantor is shamelessly cashing in, check this out. Russia has two new American comrades stepping up for them. Republican Trent Lott and Democrat John Breaux are now lobbying for a Russian bank sanctioned by the United States this summer.
Gazprombank GPB, a subsidiary of Russia’s third largest bank, Gazprombank, and controlled by Russia’s huge state-owned energy company and largest gas producer Gazprom, has hired former Sen. John Breaux (D-La.) and former Senate Majority Leader Trent Lott (R-Miss.) as main lobbyists under its account for the firm Squire Patton Boggs. They are to lobby on “banking laws and regulations including applicable sanctions.” The Treasury Department added Gazprombank GPB to a list of Russian firms prohibited from debt financing with U.S. banks in July.
Although lobbying for a sanctioned Russian bank seems particularly distasteful, Lott and Breaux are part of a growing trend of former lawmakers using their political influence for personal gain.
More than 300 members of Congress have become lobbyists, according to the Center for Responsive Politics, as they have valuable contacts and often favors they have done for colleagues that can give them leverage to ask for favors on behalf of clients. Former House Majority Leader Eric Cantor this week joined a Wall Street firm in what some are calling a lobby-like position, since he does not have investment banking experience.
Obewon September 3rd, 2014 at 9:25 am
‘Let me tell you about the commie bribes my employer wants to give you!’-fmr Senate Majority Leader Trent Lott (R-Miss.)
Budda September 3rd, 2014 at 9:38 am
Traitorous?
uzza September 3rd, 2014 at 11:52 am
If only there was a way for American citizens to hire someone to go to Washington and lobby for them.
keepntch September 3rd, 2014 at 11:56 am
Well now they may actually have to read and sort of understand what the employer stands for and wants, not just sign into law benefits because a “lobbyist wants it”. They will more than likely be compelled to actually do a smidgen of work with their employers, unlike in the US Congress, we the voters, don’t seem to have any power to compel them to work while they are there. As far as traitorous, why should it be, they had no loyalty when they were in the Congress either. Weren’t those who signed pledges, last years “thing to do” (like this years ice bucket challenges) traitorous to pledge to Norquist when they should have been loyal to American Citizens? I bet they even earned more money by signing that pledge than the ALS Association did. (They being a generic term for many Senators and Representatives no just these two)
edmeyer_able September 3rd, 2014 at 12:00 pm
“smidgen of work” = golfing w/boehner, taking mcconnel to lunch.
voice_reason September 3rd, 2014 at 4:44 pm
once scum of the earth, always scum of the earth. how can any republican look them in the ye and condone what they are doing and then have the balls to say anything negative about Obama’s dealing with the russians
JamesMMartin September 4th, 2014 at 6:48 pm
I suspected that when Sen. Trite Loot left congress after his embarrassing comments about Strom Thurmon, he would simply shuffle his way over to K Street, where he could make more money selling out the interest of 99% of Americans. He is living proof that the short delay mandated for making the switch (what is it, six months, a year?) is not enough protection from pay to play schemes like Abramoff dreamed up. What is needed is a LIFETIME ban on lobbying work. And we do not even have to risk 1st Amendment or other constitutional issues with such a ban. All we have to do is have publicly funded elections that are exclusive of all outside interests, including those of lobbyists. When Lincoln was inaugurated and quickly inundated with requests for patronage positions, he said, “Too many piglets for the teets.” I don’t think people like Trite Loot should hang around on the public teet. Lobbyists cost us all. Dearly.