You don’t think that I am referring to the Republican Reich, do you? Of course not! They are the Reich on the right. The Reich on the left is Robert Reich, author of the following excerpt. Just as surely as the Reich on the Right is wrong, the Reich on the left is right. In this case, Reich is right about Congress critters, such as Hastert the Bastert, becoming lobbyists.
Washington has been rocked by the scandal of J. Dennis Hastert, the longest-serving Republican speaker in the history of the U.S. House, indicted on charges of violating banking laws by paying $1.7 million (as part of a $3.5 million agreement) to conceal prior misconduct, which turns out to have been child molestation.
That scandal contains another one that’s received less attention: Hastert, who never made much money as a teacher or a congressman, could manage such payments because after retiring from Congress he became a high-paid lobbyist.
This second scandal is perfectly legal but it’s a growing menace.
In the 1970s, only 3 percent of retiring members of Congress went on to become Washington lobbyists. Now, half of all retiring senators and 42 percent of retiring representatives become lobbyists.
This isn’t because more recent retirees have had fewer qualms. It’s because the financial rewards from lobbying have mushroomed, as big corporations and giant Wall Street banks have sunk fortunes into rigging the game to their advantage.
In every election cycle since 2008, more money has gone into lobbying at the federal level than into political campaigns. And an increasing portion of that lobbying money has gone into the pockets of former members of Congress… [emphasis added]
Inserted from <Robert Reich>
Robert goes on to describe the issue in more detail and propose some solutions. Click through, please. Personally, I don’t think he goes far enough. First, every penny lobbyists spend on and every word they communicate to government officials, including transcripts of conversations by phone and in person, should posted at a central website for public inspection. Second, 3 years is not long enough. Make it ten. For the record, most Democrats support laws restricting lobbyists. Virtually all Republicans oppose them, except for lobbyists that represent unions.
12 Responses to “The Reich Is Right Again!”
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Well, let's look at the old saying, "Write if you find work." I have heard it amended to "Write if you find HONEST work." With that amendment, we will never hear from retiring Congresscritters and Senators, will we? But they are hardly the only ones who are unabe to find honest work that will support them. White collar workers are increasingly being replaced by computers. Blue collar workers are increasingly being replaced by workers in China and India. Pink collar workers were always dissed, not much change there, except that other workers can no longer afford them. Every time I read that the US economy has added x number of jobs, I wonder, "But what kind of jobs?" Just as one example, in the 70s, retiring legislators often went into education (sometimes just as figureheads). Now, education has been so gutted by Republicans, that really isn't an option.
I think Robert and you, TC, are quite correct that we have to attack this whole trend and subdue it with regulation. But I do think the job market as a whole is part of it.
3 yrs. is longer than states require (if they do at all):
http://www.ncsl.org/research/ethics/50-state-table-revolving-door-prohibitions.aspx
I know. That's part of the problem.
Reich is always right. We need these rules, but since Congress has tomake them, what are the odds of it happening? This is a clear explanation of why so many leave congress as millionaires and why they are so disinterested in serving 99% of their constituents. Shared this on Facebook.
I completely agree Edie – and there is also the apparent fact that people in congress can benefit from what the rest of the world calls 'insider trading' – my jaw dropped when I heard this – talk about putting the foxes in charge of the hen coop! They make rules to benefit various companies and can buy or be given stock in them – not apparently a problem. Who on earth wrote that rule?!
Lobbyists did.
Of course Reich on the left is right again, but the way things are going in America, it hardly seems to matter that he does, both financial and political power is already so unequally distributed, or rather heaped together, that it impossible to prevent corruption, lobbying, sock-puppetting, inside trade from coming worse, let alone from rooting it out, unless Democrats win with a landslide in 2016. And even then: Hillary's name is mentioned in the article and many other Democrats in Congress and elsewhere have already shown themselves to be to weak to withstand the lure of money, so it is unlikely to change for the better soon.
Stocking up on pitchforks and selling them to Americans, is that trade with inside knowledge too?
Keep some at home. Republicans LOVE to export InsaniTEA!!
It is so very important to take the money out of politics no matter how it gets there. Large lobbying fees/anticipatory bribes = big problems that affect or rot the very root of good governance.
I completely agree. The Reich on the Left is always right when it comes to money. We definitely need to regulate. Politicians, when leaving their government offices should not be allowed to work for the Lobbies.
I don't feel sorry for Eric Cantor at all since he got booted out of his office simply because he didn't take care of his constituents. His wife works for Goldman-Sachs and with his political connections and self savvy, he will do quite well prostituting himself as a goon carrying black moneyed-bags from the Koch Party boogeymen peddling leaking money spigots from them to "influence" policy in Congress. What can a congresscriter to do…
All the more reason we need tough laws against lobbyists. Hmm… make lobbying illegal in all of its forms seems the best way to go. Isn't payola against the law…?
Yes, Reich on the left is right again. But, it needs to go further than what he advocates.
Thanks all. This will require a Supermajority in both houses.