- Jan 15, 2013
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One month ago, Eric Cantor was the highest ranking member of the House of Representatives. Now, Eric Cantor is one of the senior financial executives he railed against--while receiving millions of dollars in their lobbying money.
Eric Cantor, the Republican House Majority Leader until 31 days ago, is now the Vice Chairman of Moelis & Company, a global investment bank. This is how Moelis & Company was formed.
[Ken] Moelis, Head of Banking at the UBS LA office, left to form his own firm, Moelis & Company. And he brought many of his stars with him, including Navid Mahmoodzadegan.
In 2009, UBS was fined $780 million for, according to the Department of Justice, helping United States taxpayers open new UBS accounts in the names of sham entities then transferring [their assets] to newly created accounts, as to which the U.S. taxpayer would not be identified as a beneficiary.
In the same month, Eric Cantor took $10,000 from UBS in campaign money.
The fine camewith no exaggerationexactly one day before he complained about AIGs stunning lack of accountability to the taxpayers in the financial crisis.
Again, one day after UBS pled guilty to helping Americans dodge taxes, here was Cantor: Rewarding senior executives who created this mess is nothing short of an outrage.
One month ago, Eric Cantor was the highest ranking member of the House of Representatives. Now, Eric Cantor is one of those senior executives he railed against, who "created this mess" that is our broken economy and corrupt Congress.
The only political entities Moelis & Company founder Ken Moelis has donated to in 2013 or 2014 are the National Republican Congressional Committee, Eric Cantor, or Eric Cantors creatively named PAC, ERICPAC.
Cantor is now out of office, but he was the highest ranking Republican in the House up until one month and one day ago. This is the rule, not the exception. There is nothing stopping it from happening again, as it is surely happening right this second.
This is nowhere near the end of the list for Cantors very public corruption.
Eric Cantors assets were worth an estimated $3.6 million at the start of his third term in 2004. He is now worth a reported $9.3 million.
Cantor received $784,650 in campaign donations from the securities and investment industries in 2013 alone. His largest donor, the Blackstone Group, is his wifes former employer.
His campaign received $908,900 from the securities and investment industries in 2011 and 2012, but his biggest donor in the 2012 cycle came from another industry entirely.
Cantor accepted the most amount of campaign money ($71,650including $10,000 in PAC money, which was the most allowed at the time) from Dominion Resources. Dominion Resources, it was announced today, won a $4.5-$5 billion bid to build a natural gas pipeline through Virginia and North Carolina.
In November of last year, before he was ousted, Eric Cantor voted for and publicly applauded the passing of a bill that would expedite Dominions permit-seeking process and make sure ground was broken on a fracking deal, like this one, within 12 months.
This was the highest ranking member of the House until last month. This is how its run.
Congress is bought. The system is broken. It is rigged from the top down.
Link to the news article
-----------------------------------
Get rid of Citizens United, force open transparency on all contributions and where these politicians are really getting their money from. Close loopholes in the laws that allow them to do this shit.
Eric Cantor, the Republican House Majority Leader until 31 days ago, is now the Vice Chairman of Moelis & Company, a global investment bank. This is how Moelis & Company was formed.
[Ken] Moelis, Head of Banking at the UBS LA office, left to form his own firm, Moelis & Company. And he brought many of his stars with him, including Navid Mahmoodzadegan.
In 2009, UBS was fined $780 million for, according to the Department of Justice, helping United States taxpayers open new UBS accounts in the names of sham entities then transferring [their assets] to newly created accounts, as to which the U.S. taxpayer would not be identified as a beneficiary.
In the same month, Eric Cantor took $10,000 from UBS in campaign money.
The fine camewith no exaggerationexactly one day before he complained about AIGs stunning lack of accountability to the taxpayers in the financial crisis.
Again, one day after UBS pled guilty to helping Americans dodge taxes, here was Cantor: Rewarding senior executives who created this mess is nothing short of an outrage.
One month ago, Eric Cantor was the highest ranking member of the House of Representatives. Now, Eric Cantor is one of those senior executives he railed against, who "created this mess" that is our broken economy and corrupt Congress.
The only political entities Moelis & Company founder Ken Moelis has donated to in 2013 or 2014 are the National Republican Congressional Committee, Eric Cantor, or Eric Cantors creatively named PAC, ERICPAC.
Cantor is now out of office, but he was the highest ranking Republican in the House up until one month and one day ago. This is the rule, not the exception. There is nothing stopping it from happening again, as it is surely happening right this second.
This is nowhere near the end of the list for Cantors very public corruption.
Eric Cantors assets were worth an estimated $3.6 million at the start of his third term in 2004. He is now worth a reported $9.3 million.
Cantor received $784,650 in campaign donations from the securities and investment industries in 2013 alone. His largest donor, the Blackstone Group, is his wifes former employer.
His campaign received $908,900 from the securities and investment industries in 2011 and 2012, but his biggest donor in the 2012 cycle came from another industry entirely.
Cantor accepted the most amount of campaign money ($71,650including $10,000 in PAC money, which was the most allowed at the time) from Dominion Resources. Dominion Resources, it was announced today, won a $4.5-$5 billion bid to build a natural gas pipeline through Virginia and North Carolina.
In November of last year, before he was ousted, Eric Cantor voted for and publicly applauded the passing of a bill that would expedite Dominions permit-seeking process and make sure ground was broken on a fracking deal, like this one, within 12 months.
This was the highest ranking member of the House until last month. This is how its run.
Congress is bought. The system is broken. It is rigged from the top down.
Link to the news article
-----------------------------------
Get rid of Citizens United, force open transparency on all contributions and where these politicians are really getting their money from. Close loopholes in the laws that allow them to do this shit.
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