Congressmen amass wealth by pitting one lobbyist against another to drive up contributions.
Hastert as a lobbyist (proxy-bidder) took it to a new level. He played both sides against each other as a lobbyist.
“With a salary of probably $1 million, compensation for serving on boards of directors, speaker’s fees and a book deal, the money was there to pay in cash what law enforcement officials say Mr. Hastert paid, said former Representative Jack Kingston, a Republican who led the Appropriations Committee.
“Yeah, it’s possible he could amass in a 10-year period a nest egg of $5 to $10 million,” he said. “I'm not saying it’s easy, but it’s not that hard.”
MORE AT:
New York Times
After Speakership, Hastert Amassed His Millions Lobbying Former Colleagues
By JONATHAN WEISMANMAY 30, 2015
I got 20,000 from company X. Do I hear 21,000? Going once...
Congressmen may say they are shrinking government but they are expanding their bank accounts. The do-nothing Congress is doing nothing in service to their country. But they are working overtime expanding their wealth.
The auction items are government contracts and laws that might potentially harm or expand a corporation’s profits. The vehicles to amass wealth for congressmen are bills in Congress and riders to bills. The congressman-auctioneers take bids in the form of campaign contributions from companies represented by lobbyists.
A bill can benefit a particular corporation or do harm to its profitability. It doesn't matter. A congressman's staffer might hint that the congressman is leaning towards a bill that will benefit a corporation or harm a corporation.
I got 20,000 from company X. Do I hear 21,000? Going once...
The congressman's staff plays one proxy-bidder (lobbyist) for a particular company off of another proxy-bidder (lobbyist) and drives up contributions to the congressman by playing one side against the other.
I got 20,000 from company X. Do I hear 21,000? Going once...
The congressman's staff plays one proxy-bidder (lobbyist) for a particular company off of another proxy-bidder (lobbyist) and drives up contributions to the congressman by playing one side against the other.
The Republican led congress is called the “do-nothing Congress". While nearly no new laws are coming out of Congress since 2011 congressman are not doing nothing. They are amassing wealth for themselves with the threat of supporting or not supporting a bill even if it never is voted on.
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