By most objective measures, Eric Cantor is a bum. Democrats have no use for anything he “accomplished” as a congressman, and the Republican primary voters just threw him out of office for insufficient zeal. It’s true that he climbed the leadership ladder quite quickly, but right when he was on the cusp of success, he lost his job.
Yet, he doesn’t have to worry about a thing. His new compensation package is worth $3.4 million a year. He now has an office in New York City and he’s opening up a new branch of the Moelis & Co. investment bank in DC. He’ll also be on their board of directors.
As Politico says:
First elected in 2000, Cantor was seen as a major ally for Wall Street on Capitol Hill. He was a top recipient from the private equity and investment industry during 2013 and 2014, according to the Center for Responsive Politics.
In its statement, Moelis & Co. praised Cantor’s work, including his efforts to lower taxes and “eliminate excessive regulation.”
As of 2010, the House Majority Leader makes $193,400 annually, so Cantor is now making more than seventeen times as much money as he was making in Congress.
This is not how most bums fare.
