Posted on 09/02/2014 6:55:52 AM PDT by SeekAndFind
Late Monday night it was reported that former House Majority Leader Eric Cantor would take a job at investment bank Moelis.
The news has already prompted the predictable eye-rolling about the "revolving door." And to the Tea Partiers who ousted Cantor in a primary earlier this year, the news that he is going to Wall Street is vindication that he was never a populist like them.
But anyway, Moelis has put in a filing with the SEC, detailing his pay package (Via Erik Schatzker).
From the filing:
Group LP has agreed to pay Mr. Cantor an annual base salary of $400,000. Group LP has also agreed to pay Mr. Cantor an initial cash amount of $400,000 and grant Mr. Cantor $1,000,000 in initial restricted stock units (“RSUs”), based on the average closing price of the Company’s common stock on the five trading days prior to his start date. The initial RSUs will generally vest in equal installments on each of the third, fourth and fifth anniversaries of his start date. For calendar year 2015, Group LP has agreed to pay Mr. Cantor minimum incentive compensation of $1,200,000 in cash and $400,000 in incentive RSUs, payable in equal quarterly installments. The incentive RSUs will generally have the same vesting schedule as incentive RSUs granted to Group LP’s other Managing Directors.
So he'll have a base salary of $400,000 for this year and next. Add in $1.4 million in signing bonuses this year, and $1.6 million in incentive compensation next year, and Cantor is looking at a cool $3.4 million.
(Excerpt) Read more at businessinsider.com ...
“Just wait until you see Boehner’s package.”
I, for one, do not want to see Boehner’s package.
You missed the point. His choice symbolizes the control of Congress by Oligarchs. They in fact let those they have bought and paid for know that if their dictates are followed, then a lavish lifestyle waits in the wings.
Cantor is a lawyer. If he cared about the Constitution or about the precious freedoms that Americans are blessed with, he could have made ‘the choice’ to fight for American values by joining with any number of organizations that stand for these values. But he chose the sugar instead.
And to think this guy was in line to be Speaker of the House.
Boehner’s package is large, very profitable, well-structured, very attractive.
And him being a former Congressman with specific inside info and connections has no bearing on who hired him? Give me a break.
Nice landing Eric.
Exactly! Criminals all.
so if you get voted out of Congress, you should go home and mope? People wanted him out of office and voted him out, the process in work. At that point, if we are all true conservatives, we shouldn’t have a problem that he ended up with a nice job and big compensation. In this day an age, being an ex politician or family of, generally means big money. If that’s what any of you want go do the same thing.
Yawn. Another turn in the revolving door.
Funny, I heard barely a peep when Timmah Geithner joined an evil private equity firm.
Follow the money!
In DC its all about the Benjamins. How you can parlay your Federale career into millions when you leave public dis-service
No wonder a puke like Cantor is open borders. What does he care? What does anyone in DC care about our open borders? It’s all a joke to them. They are too busy scheming how to make millions (all off the taxpayer one way or another)
F’N PARASITES ALL!!!
go back to sleep....zzzzzzzzzzzzzzzzz.......
Should a new law be passed banning former congressmen from entering into certain professions?
In a truly free society, people should be free to choose where they want to work and what they want to do.. without being judged.
If Cantor chooses to pursue a lucrative career on Wall Street, I have no issues with it. It’s his business. I wish him luck. I have no issues with Wall Street. I have no issues with making money. I don’t expect Cantor to work at a gas station.
Sen. Phil Gramm went to work for a Wall Street firm after he left the Senate. I don’t recall any complaints about it.
I’ve read we all have a price. It all depends on the price we’re willing to buy into.
And his silence
Well, if you don’t like Cantor. Fine. Celebrate the fact that he is no longer in Congress.
No matter what Cantor does I guess some people will criticize. If he decided to remain in politics, that would surely annoy many.
As long as corporate taxes are as high as they are, I have no issues at all with a guy like Cantor using his expertise to help the private sector keep their taxes as low as possible.
I guess that you don’t see a problem,so let it go.
RE: Sen. Phil Gramm R-TX joined a Wall Street firm after he left Congress.
Didn’t hear a peep from anyone.
_____________________________________
I hasten to remind everyone that Gov. John Kasich was a director for Lehman Brothers after he left Congress.
He then ran for governor ( and won of course ) after the Lehman collapse.
No. I have no problem at all with what he does. He is no longer in public office. He is in the private sector now. It’s his personal business. If there IS a problem, please explain to me what it is, and more importantly what you think should be done about it.
You win,I’m done-bye.
Thanks. I’m sure we can find many such examples.
I’m tired of demonizing Wall Street and the financial industry.
I expect it from Occupy Wall Street radicals, but not here.
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