How Denny Hastert Could Afford $3.5 Million In Hush Money
Ex-lawmakers can get very rich once they leave office, as Ana Marie Cox writes:
In Hastert’s case, the ability to profit off of one’s legislative position is especially galling: While in office, Hastert used the earmarking process to turn his investment in some Illinois farmland into a profit of 140 percent when a federal highway project just happened to make its way through those very fields. Indeed, it was this instance of a completely legal form of insider trading that helped prompt Congress to end earmarks.
And, of course, Hastert made even more money once he was out of office. One study found that, on average—and when the information is publicly available—former lawmakers get a 1,425 percent raise when they make the jump from Capitol Hill to K Street. Hastert, who was worth between $4 million and $17 million when he left Congress, was making $175,000 as a representative. His K Street bump would be to almost $2.5 million a year.
whatthe46 May 30th, 2015 at 6:18 pm
nola878 May 30th, 2015 at 6:19 pm
I remember years ago when I was selling a bit of weed, my father told me to go into politics if I wanted to be a crook. Huge pay outs with little risk, and minimum security with a lot less time if caught.
whatthe46 May 30th, 2015 at 6:22 pm
“…a lot less time if caught.” or no time at all.
StoneyCurtisll May 30th, 2015 at 6:29 pm
We both should have went into politics years ago…;)
StoneyCurtisll May 30th, 2015 at 6:41 pm
Your pops was right~!
allison1050 May 30th, 2015 at 7:29 pm
Should have listened to your Dad.
DsMTwoShoes June 2nd, 2015 at 11:11 am
My Mother told me the same thing when I got out of the service.
After returning I just thought I’d take a little breather, not having to worry about someone blowing my head off.
She, on the other hand offered her 2 cents worth of advice.
“If you want to lay around and do nothing and expect others to wait on you hand an foot, get off you ass and run for Congress!”
robert May 30th, 2015 at 6:59 pm
its close to what Aaron schock ( R ) took in while he saw the world on the tax payers dime
maybe the 2 of them will be cell mates
DsMTwoShoes June 2nd, 2015 at 11:06 am
I bet Hastert would love that, and I doubt that Schock would object.
allison1050 May 30th, 2015 at 7:28 pm
I know this happens but it still makes me ill to read it knowing that people all across the country are struggling month to month.
William May 31st, 2015 at 9:42 am
Some 79 percent of congress members who have left office since 1988 now work as lobbyists.
It’s time to lock the revolving door.
Between super-pacs and lobbyists we are simply a nation owned and operated by billionaires and corporations.
rg9rts June 1st, 2015 at 7:22 am
LOL why do you think they run for office??? Patriotic duty?? LOL