revolving door

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Signing Bonus? Outgoing Rep. Altmire to Lobby For Company That Gave Him Most Campaign Cash

Blue Cross/Blue Shield placed a big bet on Rep. Jason Altmire (D-Pa.) with its corporate PAC and executives giving more money toward Altmire’s 2012 re-election effort than those of any other company.

Unfortunately for BCBS, while data from the Center for Responsive Politics show it gave $32,250 to Altmire’s campaign and leadership PAC, he was narrowly defeated by Rep. Mark Critz in an April Democratic primary.

NEW REPORT: Wall Street and the Supercommittee: The $41 Million Question

Public Campaign, along with National People's Action, released a new report today: "Wall Street and the Supercommittee: The $41 Million Question." The report details the close ties from Wall Street and other financial industry interests to the supercommittee.

The Chronicles of Money, Politics, and How a Penny Became Not Nearly Enough For Your Thoughts

Here's a round-up of Public Campaign and Public Campaign Action Fund's work for the week of Aug 15-Aug 19, 2011.

What's in a Name?

"The names have been changed to protect the revolving door." You could say that. It's hard to say for sure, but it seems a little fishy. Think Progress reports on a former Goldman Sachs Vice President who changed his name shortly before going on to become a top staffer to House Oversight Committee chairman, Rep. Darrell Issa (D-Calif.).

Revolving door: Next up, Speaker-elect Boehner

Politico reports today that Speaker-elect John Boehner (R-Ohio) has hired the medical device industry’s chief lobbyist as his policy director. The new hire, Brett Loper, was a major player in opposing health care reform. 

NOW HIRING: K Street lobbyists for chief of staff positions

The Hill has a story today on newly elected Republican lawmakers hiring lobbyists to head their staff's. At least nine soon-to-be members of Congress are embracing the revolving door that has become a staple on Capitol Hill.

Hedging his bet

In yesterday's Congress Daily, we saw that Rep. Richard Baker (R-LA) will be resigning from Congress to become president of the Managed Funds Association, a hedge fund trade association: