Sen. Elizabeth Warren (D-MA) shook her head in frustration regarding former House Majority Leader Eric Cantor’s (R-VA) quick departure for a job on Wall Street in an interview with Katie Couric posted on Wednesday by Yahoo News.
“This is wrong,” Warren told Couric. “People work in Washington and, man, they hit that revolving door with a speed that would blind you and head straight out into the industry, not because they bring great expertise or insight, but because they’re selling access back in to their former colleagues, who are still writing policy, who are still making laws.”
The Washington Post reported that Cantor took a position as vice chairman for Moelis & Co., a New York-based investment firm. He is set to make at least $400,000 in base salary both this year and in 2015. The firm is also reportedly opening a Washington D.C. office soon.
Cantor resigned from the House last month, just under two months after he lost the Republican primary in his home district to Tea Party conservative Dave Brat. At the time, Cantor said he was leaving office early to give his successor the chance to “have a voice in what will be a very consequential lame-duck session.”
But on Wednesday, Warren called this kind of move a fundamentally wrong approach for legislators to follow.
“It worries me about what happens if people in government are looking for that next job [and saying], ‘Yeah, I’m working now, not as much money as I could be making, but when I leave here that’s where I’m headed,’” she explained. “That ultimately infects whatever it is that they’re doing. I just think this is wrong.”