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View Diary: The reverse-revolving door in Congress (23 comments)

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  •  Heh. (0+ / 0-)

    "There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning." —Warren Buffett

    by Joan McCarter on Mon May 06, 2013 at 03:41:16 PM PDT

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    •  I don't find this surprising (0+ / 0-)

      While it is certainly troubling, I don't find this at all surprising. All senior executives have severance agreements that are in place from the time they join a company, or are promoted. Unless someone is terminated "for cause", the severance is paid. Many of these agreements have a public service clause that if the person accepts a job in government it is treated as a not-for-cause severance and the payments are due. There are no severance payments should someone resign to join a competitor. These severance payments can include acceleration of option vesting, a payout of any deferred compensation, and any earned bonus payments due. It would be interesting to know if the payments were part of an employment agreement, or decided after the fact.

      "let's talk about that"

      by VClib on Mon May 06, 2013 at 04:11:56 PM PDT

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      •  I don't find it surprising either. . . (1+ / 0-)
        Recommended by:
        thomask

        And you are certainly correct that severance agreements are common and your examples are sound.

        But I find this just infuriating b/c the examples that The Nation was able to find, the "above ground" stuff is pretty egregious and I simply have to believe that the "real deals" are way way way down below the surface.

        I wonder if there is a way to track how many "lobbyists" leave their firms - company, go to Congress for 2 - 4 years (while, say a major piece of legislation is written and ushered through) and then hired BACK. I would LOVE to hear about the pay agreements for those people.

        Blessed are the peacemakers, the poor, the meek and the sick. Message to Repug Fundies: "DO you really wonder "what would Jesus do?" I didn't think so.

        by 4CasandChlo on Wed May 08, 2013 at 04:00:10 PM PDT

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        •  One big problem -- whether or not some or all (1+ / 0-)
          Recommended by:
          4CasandChlo

          are above board -- is that it looks bad. A soul as pure as the driven snow is going to be stuck looking bad. There's no way around it.

          It's hard not to be suspicious when big sums of money go to somebody in (or about to be in) public service.

          LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

          by dinotrac on Wed May 08, 2013 at 04:19:02 PM PDT

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