Former House Majority Leader Eric Cantor (R-VA), who resigned last month after losing renomination to an underfunded college professor, spent much of his 13-plus years in the U.S. Congress advancing the agenda of Wall Street investment firms. This week, he announced that he will be joining a Wall Street investment bank as its new vice chairman.Moelis and Co. will not get a value of $2 million a year from Eric Cantor, but that is not the purpose of their offer to him.
Cantor will be joining Moelis & Co., the investment bank said, to “provide strategic counsel to the Firm’s corporate and institutional clients on key issues,” to “play a leading role in client development,” and to “advise clients on strategic matters.” The announcement press release praised Cantor as a “leading voice on the economy and job creation,” who worked in Congress “to lower taxes, eliminate excessive regulation, strengthen small businesses, and encourage entrepreneurship.” The deal reportedly includes a $1.4 million signing bonus and at least a $2 million annual compensation package.
The purpose of their offer to him is to show people who are still in Congress that, if they play nice with the banksters, then when they retire, whether voluntarily or involuntarily, they will be set for life.
It's the proverbial offer they cannot refuse.
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