Lobbyists Lose Money When Former Bosses Leave

[cal04]

http://politicalwire.com/archives/2010/09/23/lobbyists_lose_money_when_former_bosses_leave.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+PoliticalWire+%28Political+Wire%29

A new study from the London School of Economics found that politically connected federal lobbyists experienced a "sizable drop in earnings when their old bosses left Congress."

Center for Responsive Politics: "Overall, the researchers found that lobbyists' earnings dropped by 24 percent upon the departure of one of their former employers in either the Senate or a senior position within the House. This decline represents about $177,000 per year for the lobbyist -- and the decrease in revenue persists for three years after the politicians exit."

Revolving Door Lobbyists
http://cep.lse.ac.uk/_new/publications/abstract.asp?index=3654
Washington's `revolving door' - the movement from government service into the lobbying industry- is regarded as a major concern for policy-making. We study how ex-government staffers benefit from the personal connections acquired during their public service. Lobbyists with experience in the office of a US Senator suffer a 24% drop in generated revenue when that Senator leaves office. The effect is immediate, discontinuous around the exit period and long-lasting. Consistent with the notion that lobbyists sell access to powerful politicians, the drop in revenue is increasing in the seniority of and committee assignments power held by the exiting politician.

Academic Study Confirms Passing Through 'Revolving Door' Pays Off
http://www.opensecrets.org/news/2010/09/academic-study-confirms-passing-through.html

A recent study from the Center for Economic Performance at the London School of Economics has found "a significant relationship" between lobbyists' salaries and their previous work experiences on Capitol Hill.

(snip)
Measuring the significance of the "revolving door" between K Street and Capitol Hill is a difficult task. The study's attempt to measure influence of the revolving door by examining earnings is the first of its kind.

[LiberalAndProud]

1. $177,000 per year per lobbyist --

How many lobbyists per former boss, I wonder?

[xchrom]

2. Very interesting. - I guess it remains to be seen if things will evolve

To get around this.

[notesdev]

3. "How a bill becomes a law"

2010 version... the lobbyist sends a bill, it gets paid, the customer gets a law.

The legislative process resembles the digestive process, without the nutrition.

[Festivito]

4. Does this mean they are making nearly $750,000 per year?

"This decline represents about $177,000 per year"

"suffer a 24% drop in generated revenue when that Senator leaves office"

What's enough to buy someone?