The Center for Public Integrity reports today that 52 percent of financial reform lobbyists are former employees of the government.
The Center was able to identify 1,556 former members of Congress, Capitol Hill staffers and executive branch employees among the 3,000 financial reform lobbyists. But the actual number of feds-turned-FinReg-lobbyists could be higher:
The Center’s examination of financial reform lobbying disclosure data for all of 2009 and the first quarter of 2010 found only about one-third of lobbyists who were once on the government’s payroll listed their former jobs. The remaining 1,000 did not report their government ties on the disclosure forms analyzed by the Center.
Almost certainly accounted for, however, was Peter Roberson, a former House Financial Services Committee staffer who played a key role in drafting financial regulatory reform legislation and then promptly bolted for an industry lobbying position. In the wake of his departure, one of his former colleagues on the Committee remarked that "it was always obvious he was playing for the other side." Could the same could be said for any of the other FinReg lobbyists that CPI noticed passing through the revolving door?
-- Bryan Rahija
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