How Washington Works

The Washington Post has a fascinating, if not disturbing, account of Washington's most lucrative lobbying firm, Cassidy and Associates. It's well worth the read.

Cassidy's career has spanned an astounding boom in the lobbying business. When Cassidy became a lobbyist in 1975, the total revenue of Washington lobbyists was less than $100 million a year. In 2006 the fees paid to registered lobbyists surpassed $2.5 billion; the Cassidy firm's 51 lobbyists earned about $29 million. In 1975 the rare hiring of a former member of Congress as a lobbyist made eyebrows rise. Today 200 former members of the House and Senate are registered lobbyists. Two of them, tall, gregarious men named Marty Russo and Jack Quinn, work for Cassidy, and at the 30th birthday party they worked the crowd with relish.

The business involves giving as well as receiving. As lobbying became more and more lucrative, Cassidy realized that members of Congress who helped his clients could be thanked with campaign contributions. "You can't be in this business and not give," he once explained.

He encouraged his colleagues to give, and he gave prolifically himself. In the quarter century leading up to his party, Cassidy, his employees and their spouses had personally given at least $5.3 million to candidates for the House and Senate and to the two major parties. Cassidy and his wife, Loretta, donated more than a million of that themselves. The lobbyists of Cassidy & Associates had received many times that much in fees from their clients - almost always in the form of monthly retainers. The clients had received hundreds of millions in earmarked appropriations and other benefits worth hundreds of millions more.

To keep this lobbyig income figure in perspective, $100 million in 1975 is equivalent to about $375 million today, nearly one-seventh the $2.5 billion lobbyists stole collected in 2006..  No wonder it's so difficult to compete in political campaigns in terms of fundraising. It's all controlled at the top.

Comments

[True_Liberal]

Is this not the greatest reason for Americans to take back the streets of Washington DC?

[H-Mart]

Looks like maybe he's seen the light:

"Cassidy says his blog entries won’t back specific policies favored by his clients. He instead plans to share his opinions on larger political issues. He says he intends to push for public financing of political campaigns to rebuild public trust in government and for more government oversight of hedge funds."

http://thehill.com/business--lobby/gerald-cassidy-businessman-lobbyist-blogger-2007-01-30.html