Tea Party Patriots Criticizes Cantor Over New Wall Street Job
The Tea Party Patriots group is criticizing former House majority leader Eric Cantor for accepting a new lucrative job on Wall Street.
“After Dave Brat’s upset victory in June, many analysts accused Eric Cantor of paying more attention to Wall Street than to the people of Virginia’s 7th District,” Kevin Broughton, a spokesman for the Tea Party Patriots Citizens Fund, said Tuesday. “He certainly didn’t waste any time validating that theory.”
Cantor is going to work on Wall Street, joining Moelis & Company as vice chairman and managing director. He will also serve on the company’s board of directors. The move was announced Tuesday.
While majority leader, Cantor made $193,400 a year.
It was reported Tuesday that in 2015, “Moelis will pay Cantor a minimum of $1.2 million in salary and $400,000 in restricted stock” and will reimburse him for a New York City apartment for a year.
Cantor will still live in Virginia and will open the firm’s new office in Washington.
Since his surprise loss in the Republican primary to a little-known conservative challenger this summer, Cantor has been expected to take a Wall Street or K Street job.
“When I considered options for the next chapter of my career, I knew I wanted to join a firm with a great entrepreneurial spirit that focused on its clients,” Cantor said in a Tuesday statement.