Thursday, November 06, 2008

Rahm Emanuel the Investment Banker

Real Clear Politics reports:
Sixteen point two million dollars. That's more than half a million dollars per month. Details of a Halliburton contract in Iraq, you say? Nope. It's the amount of money Rahm Emanuel made working as an investment banker in the scant two and a half years between leaving the Clinton White House and going to Congress last year as the representative from Illinois' 5th district.

According to a recruiting executive quoted in the article, that salary figure puts Emanuel in the top 3-5% of all investment bankers in the country during that period of time. Not bad for a guy with zero investment banking experience:

"According to congressional disclosure statements, Emanuel received $16.2 million from Wasserstein, based on fees that the bank earned from eight clients. In each case, he worked to land the business either through a key executive he had come to know during his political career or was provided an introduction by a contact he developed through his political work.

Three of those clients were corporations controlled by major Democratic donors
We wonder is Rahm Emanuel wants to pay higher taxes voluntarily?