Top Politicos Turned Bank Lobbyists
The former Minnesota governor and one-time presidential hopeful shocked Washington on Thursday by announcing he will become the new president and chief executive of the Financial Services Roundtable on Nov. 1.
The president and CEO of the American Bankers Association served as the Republican governor of Oklahoma from 1995 to 2003. He took the reins of the ABA in 2010.
Rep. Richard Baker, R-La., gave up his House seat in 2008 to head the Managed Funds Association, a hedge fund trade group.
Rep. Ken Bentsen, D-Texas, joined SIFMA in 1999 as executive vice president for public policy and advocacy.
Rep. Rick Lazio, R-N.Y., served three years as the chief executive of the Financial Services Forum before joining JPMorgan Chase's lobbying shop in 2004.
Rep. Steve Bartlett, R-Texas, is the Roundtable's current president and CEO since 1999. Prior to that, he served eight years in the House before becoming mayor of Dallas in 1991.
Rep. Dan Mica, D-Fla., served as a Democratic congressman from 1979 to 1989 before later becoming president and CEO of the Credit Union National Association from 1996 to 2010.
Okay, so former Sen. Chris Dodd, D-Conn., isn't a bank lobbyist, but he was too important to ignore. The former chairman of the Senate Banking Committee, Dodd joined the Motion Picture Association of America as chairman and CEO after leaving the Senate in 2010.
Tim Pawlenty is hardly the first prominent politician to turn into a bank lobbyist. Indeed, there's a long line of them.
Consumer Finance'The Entire Bay Area Is Basically Jumboland': Comments of the Week
Marketplace Lending'Social Science Experiments in Lending Always End Badly': Comments of the Week
Law & Regulation'Thanks for Fixing a Nonissue': Comments of the Week
Law & Regulation'Let's Not Add Another High-Fee Consultant': Comments of the Week
Bank TechnologyAs the U.S. Speeds Up Payments, Keep Your Eyes on These People
Law & Regulation'When Reason Fails, Try Blackmail': Comments of the Week
Law & RegulationFive Ways That Dodd-Frank Has Shaped Banking
Bank Technology'Who Doesn't Yearn to Pay Bills While Vacuuming?' Comments of the Week