Eric Cantor – $33.4 million – sold – new job?
Eric Cantor lost his election earlier this year. No one who knows politics felt sorry for Eric Cantor. It was a foregone conclusion that his masters would take good care of him. It was just a matter of time. It just had to be packaged appropriately in a form that passed the smell test for those that are smell deprived.
Well, it happened. When is losing winning? When you are a politician who ensured that you did all that is necessary to support the plutocracy, the rich, the investment bankers.
Eric Cantor is now an investment banker at the firm Moelis & Co. They issued a press release that in part says the following.
Moelis & Company Announces the Appointment of Eric Cantor as Vice Chairman and Member of the Board of Directors
New York, September 02, 2014
Moelis & Company (NYSE: MC), a leading global independent investment bank, today announced the appointment of Eric Cantor, former United States Representative for Virginia’s 7th Congressional District and former House Majority Leader, as Vice Chairman and Managing Director. Mr. Cantor will also be elected to the Moelis & Company Board of Directors.
In his new role, Mr. Cantor will provide strategic counsel to the Firm’s corporate and institutional clients on key issues. He will play a leading role in client development and advise clients on strategic matters.
Ken Moelis, Chairman and CEO of Moelis & Company, said, “At Moelis & Company, we offer our clients judgment and experience in order to help them with their most important strategic and financial decisions. Eric’s judgment and tremendous experience will expand the capabilities our team brings to clients around the world as he has unique expertise in assessing complex situations and crafting innovative solutions.”
Through more than 25 years of political and business experience, Mr. Cantor has emerged as a leading voice on the economy and job creation. During his Congressional career, Mr. Cantor worked to lower taxes, eliminate excessive regulation, strengthen small businesses, and encourage entrepreneurship. His commentary was often featured in publications focusing on a wide range of issues including economic matters, health care and foreign policy.
Mr. Cantor said, “When I considered options for the next chapter of my career, I knew I wanted to join a firm with a great entrepreneurial spirit that focused on its clients. I have known Ken for some time and having followed the growth and success of his Firm, I have long admired his vision and leadership. The new model of independent banks offering conflict free advice, in a smaller more intimate environment, was a place where I knew my skills could help clients succeed.”
Mr. Moelis added, “Eric has proven himself to be a pro-business advocate and one who will enhance our boardroom discussions with CEOs and senior management as we help them navigate their most important strategic decisions.
What is rather amazing is that if one reads between the lines of the press release, it is touting that Eric Cantor was purchased for his access. Further more he was the fighter for the interests of the plutocracy, lower taxes and regulations removal. Good job Eric Cantor. Unfortunately the middle class is left behind as you are paid off.