Dems Like Markets-For Themselves - The American Spectator | USA News and Politics
Dems Like Markets–For Themselves

The other charming aspect of the Daschle affair is that it demonstrates how tax-hiking Dems like markets when they are delivering wealth to tax-hiking Dems.  And because their political connections are of value in a world in which government policy can create and destroy industries and divert taxpayer wealth to influential interests, the Dems are only too happy to collect on their newfound “talents.”

The New York Times looks at Daschle:

Tom Daschle, the former Democratic Senate leader, had been voted out of office. His close friend Leo Hindery, a Democratic donor and media mogul, was out of a job too, having just sold his latest company, Yes Networks.

So in early 2005 the two men decided to team up. Mr. Daschle agreed to become the founding chairman of “a world-class executive advisory board” of “industry and regulatory experts” for a new investment firm run by Mr. Hindery, according to a news release announcing its inception and seeking investors. The Daschle-led board, the release said, would help provide a “collective depth of industry knowledge and expertise that will allow us to pursue unique and high-value opportunities.”

In addition to lending the prestige of his name, Mr. Daschle traveled to help raise money from investors for Mr. Hindery’s new venture, said Jenny Backus, a spokeswoman for Mr. Daschle. And in exchange, over the next four years the firm compensated Mr. Daschle with over $2 million, and Mr. Hindery lent Mr. Daschle the use of a chauffeured limousine in Washington.

What a system.  You get elected to the Senate.  You expand the state, making it even more important for private companies to lobby and suck up to politicians.  Then you go out and get those very same businesses to pay you to help them wend their way through the political thicket that you helped create!  Is this a great country, or what?

Doug Bandow
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Doug Bandow is a Senior Fellow at the Cato Institute.
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