Since the financial reform debate kicked off in 2009, 1,447 former federal employees were hired to lobby Congress and federal agencies. Out of these, at least 73 were former members of Congress, accounting for 47 percent of overall former members who registered to lobby during this period. Their party affiliations are almost equally divided; 35 Democrats and 38 Republicans.
This is according to a report from The Center for Responsive Politics and Public Citizen covering ties between Congress and lobbyists in the financial sector. The report contains data from the past year and spans organizations in the financial services sector, including banks, investment firms, insurance companies, and associations that commissioned former federal employees to lobby in 2009-10.
The report also said 17 of these former members have at one point or the other served on House or Senate banking committees, while 42 of the lobbyists had formerly served in some capacity in the Treasury Department.
The members of Congress currently lobbying on behalf of the financial sector include Steve Bartlett, Rep. (R-Texas), 1983-1992, lobbying for Financial Services Roundtable; Birch Bayh, Sen. (D-Ind.), 1963-1981, lobbying for Beacon Capital Partners and Equity Office Properties; and Dennis Eckart, Rep. (D-Ohio), 1981-1992, lobbying for CP Development Co. Read the full list and report here.
Tags: Center for Responsive Politics, financial lobbying, financial reform