You would think the dearth of legislation coming off Capitol Hill might be a problem for K Street. But that would be outside-the-beltway thinking. There are other ways to skin a cat … or a taxpayer. And the lobbyists have found one. As Megan R. Wilson at The Hill writes, they are happily:
... minting money from the surge in government regulations.
Ever on the prowl for opportunity:
Top K Street officials say their regulatory work has accelerated in recent years thanks to the sprawling rule-making from the healthcare and financial reform laws.
That “work” is all done indoors, requires no heavy lifting, and the pay is real good.
… one of the most important but little-known steps in the regulatory process, the filing of a comment letter on a proposed rule, could cost a company up to $100,000, one source said.
Nice “work,” if you can get it. So it is unsurprising that many public servants at “the agencies” are leaving government to work in the lamprey division of the private sector.
… with firms paying top dollar to land their services.
“Literally, the devil’s in the details, so the folks that understand ... are going to be top dog,” said headhunter Ivan Adler, a principal at the McCormick Group
[whose] clients have snatched up numerous former officials from the Department of Health and Human Services as they seek help dealing with the implementation of the Affordable Care Act.
So while Obamacare may not be so good for those beyond the Potomac, in D.C. it is making it rain money.
Which explains a lot.