Polar opposites on the political spectrum, but they both have the ‘told ya so’ smirk on their faces today. Former Congressman Eric Cantor is cashing in on his tenure on Capitol Hill by moving to Wall Street.
Cantor, the former number 2 in the Republican-controlled House, lost his primary to David Brat, a nationally unknown college professor. He tapped into the tea party and the growing sentiment in Cantor’s district that the Congressman was out of touch with his constituents.
Voters saw him as distant from his Richmond home, instead focusing as one of the GOP’s chief fundraisers and leaders. Brat, and local tea party leaders, jumped at the chance to paint Cantor as a Washington insider, doing Wall Street’s bidding. David Brat ran away with the primary election, and their accusations of Wall Street’s man turned out to be true today.
Eric Cator took a seven figure job with the investment bank, Moelis & Co. as their vice chairman and board member. It definitely isn’t his skills as a trader that secured him the job. Cantor had raised over three million dollars from the industry since 1999. Now, Moelis & Co has quite the in with Congress.
Cantor released a statement on his new position. “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.”
Of course Twitter is having a field day with the news, as sarcasm pours from every tweet from both sides of the political divide.