SIGN IN to access Harper’s Magazine
1. Sign in to Customer Care using your account number or postal address.
2. Select Email/Password Information.
3. Enter your new information and click on Save My Changes.
Subscribers can find additional help here. Not a subscriber? Subscribe today!
More than half the 83 lobbyists registered last year to work for the industries’ two trade groups, the Private Equity Council and the Managed Funds Association, have served in government — from Capitol Hill to the Treasury Department.
While the revolving door is nothing new, the roster is nonetheless impressive — it has included three former members of Congress (Republican Richard Baker and Democrats Vic Fazio and Martin Frost) and about a half-dozen top staffers with ties to members of the Senate Banking Committee, including its chairman, Chris Dodd (D-Conn.), and Sen. Chuck Schumer (D-N.Y.).
The Private Equity Council and the Managed Funds Association paid lobbyists more than $7.3 million last year and almost $2 million in the first three months of this year, according to the government watchdog Center for Responsive Politics. And so far in the financial reform bill pending in the Senate, hedge funds and private equity firms have not been subject to the crackdown many consumer groups pushed for.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Acreage of a Christian nudist colony under development in Florida:
Florida’s wildlife officials decided to remove the manatee, which has a mild taste that readily adapts to recipes for beef, from the state’s endangered-species list.
A 64-year-old mother and her 44-year-old son were arrested for running a gang that stole more than $100,000 worth of toothbrushes from Publix, Walmart, Walgreens, and CVS stores in Florida.
Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!
“He could be one of a million beach-bound, black-socked Florida retirees, not the man who, by some odd happenstance of life, possesses the brain of Albert Einstein — literally cut it out of the dead scientist's head.”