Thursday, July 11, 2013

(Related Update): It's called "The revolving door"....

Related Update: Virtually all Presidents engage in payback once they gain the White House, so Obama's not breaking new ground here.  Nevertheless, it's still repulsive.  From an article at CNSNews today:
President Obama on Tuesday nominated two major campaign bundlers to two of the most prized ambassadorships available anywhere – London and Rome – part of a pattern that has seen him reward at least 18 top fundraisers with plum diplomatic positions since 2009.
Read all about it, here.

President Obama on Tuesday nominated two major campaign bundlers to two of the most prized ambassadorships available anywhere – London and Rome – part of a pattern that has seen him reward at least 18 top fundraisers with plum diplomatic positions since 2009. - See more at: http://cnsnews.com/news/article/18-and-counting-plum-ambassador-posts-go-obama-campaign-bundlers#sthash.DeUX9s22.dpuf
Original Post:  And it refers to the eons-old method of cashing in on political influence.  Those who have accumulated power and influence in DC commonly move into the corporate sector and rake in the big money by using their political connections, knowledge, and power on the firms' behalf.  So, on Friday, they work in the political sphere; on Monday, they're back in DC -- only now they're working the system on behalf of their corporate employers:
It works like this- Work in the White House for a few years. Cozy up with the president and David Axelrod (who has just recently cashed in himself at NBC.) Found a consultancy. Then wait for the corporate clients to send you checks. It is nearly that simple as Noam Scheiber explains in his great article in The New Republic, Get rich or Deny Trying, How to make Millions Off of Obama.

There has been a steady parade of Obama White House folks straight into the influence peddling business. As Scheiber says, the selling of the Lincoln bedroom during the Clinton years almost seems “quaint” in comparison. Everyone is on the take, and the taking is good.
Excellent article over at againstcronycapitalism.org.  Check it out here.