The revolving door between banking lobbyists and the Senate’s banking committee started spinning just moments ago.
At around 9:45 this morning, the senior economic policy advisor for Montana’s Senator Jon Tester announced that he is leaving his position on Capitol Hill for a new job at The Glover Park Group, a Democrat-oriented lobbyist firm.
But don’t get distracted by party affiliation here. This is not about progressive policy versus free markets. It’s about banking.
The Glover Park Group lists KKR, Ernst & Young, Standard Chartered, and the American Bankers Association as clients. Senator Tester sits on the banking committee. Last year he successfully opposed efforts by Dick Durbin and others to enact “cram down” legislation that would allow judges to change the terms of underwater mortgages. He also voted against his party on a provision to establish a national consumer credit usury rate that would have cracked down on pay-day lending.
We spoke briefly to the staffer, Jason Rosenberg, earlier today. He declined to comment except to say that he is still on the staff of Senator Tester and would be for at least a week longer. He seemed like a nice enough guy. Rather than considering him a villain, think of him as just a illustrative example of the system that controls the political apparatus in Washington, DC.
Here’s Jason’s email to his Capitol Hill colleagues. (We redacted the email addresses and phone numbers because we do not think they are germane to the story.)
Friends and Colleagues,
As some of you may know, I will be leaving the office of Senator Jon Tester (MT) this Friday, February 5, 2010. I have accepted a position with The Glover Park Group as a Vice President in the Government Affairs division starting on Tuesday, February 16. It’s been an honour to work with Senator Tester and my colleagues over the past 2 ½ years and to have spent the past six years working in different capacities for members of the House of Representatives and U.S. Senate.
For questions related to the Banking Committee, tax, trade, telecom, budget, small business, etc… please contact Senator Tester’s Deputy Chief of Staff, Bridget Walsh, at [redacted] or [redacted], who will be able to identify the appropriate staff to provide assistance.
I am also looking forward to working with many of you in my new capacity. As of February 16, feel free to contact me at:
The Glover Park Group
In the mean time, you can feel free to contact me on my personal email [redacted].
Senior Economic Policy Advisor
Office of U.S. Senator Jon Tester
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