Report: Revolving Door Spins Quickly Between Congress, Wall Street

The Center for Responsive Politics and Public Citizen recently released a report showing the number of former federal employees now lobbying Congress and federal agencies.  They say:

Organizations in the financial services sector have deployed at least 1,447 former federal employees to lobby Congress and federal agencies since the beginning of 2009, according to a joint analysis of federal disclosure records and other data released today by Public Citizen and the Center for Responsive Politics. (Download the full report here: FinancialRevolvingDoors.pdf )

This small army of registered financial services sector lobbyists includes at least 73 former members of Congress, of whom 17 served on the banking committees of either the U.S. House of Representatives or the Senate. At least 66 industry lobbyists worked for these committees as staffers, while 82 additional lobbyists once worked for congressional members who currently serve on these key committees.

Further, at least 42 financial services lobbyists formerly served in some capacity in the U.S. Treasury Department. At least seven served in the Office of the Comptroller of the Currency, including two former comptrollers.

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