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Tim Pawlenty takes job lobbying for big banks

T-Paw: Lobbying on behalf of the one percent since 2012.
T-Paw: Lobbying on behalf of the one percent since 2012.

Just over a year ago, T-Paw was a leading contender to be the GOP's 2012 presidential candidate. A couple of months ago, he looked like the frontrunner for VP. Neither of those gigs worked out, but it doesn't take long for a well-connected Republican to find lucrative, full-time work, does it?

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Last night, Barb Rehm, editor at large of American Banker, reported that Pawlenty will become the new head of the Financial Services Roundtable, a Washington lobbying group that advocates on behalf of the nation's top 100 financial institutions.

From Politico:

The Roundtable is one of a handful of Washington groups, including the American Bankers Association and the Securities Industry and Financial Markets Association, that are lobbying financial regulators as they implement the 2010 Dodd-Frank Wall Street reform law.

The Roundtable, like other banking groups, is seeking to recover ground the industry lost when Dodd-Frank was enacted. Their efforts focus on trying to influence how regulators are drafting rules implementing the law as well as drumming up support on Capitol Hill for legislation that would soften its impact.

In a statement, Pawlenty said he's "excited about this new challenge," adding that he realizes "there is still work to be done to continue to earn customers' confidence."

MPR dings T-Paw for having no congressional experience and little private sector experience, then reports that Pawlenty's FSR predecessor, former Texas Congressman Steve Barlett, earned about $2 million a year.

Not bad cha-ching for the son of a truck driver from a meat-packing town, is it?

Tom Scheck tweeted that the new gig means T-Paw will be stepping down as national co-chair of Mittens's presidential campaign, while the AP's Brian Bakst speculates we'll be hearing less "Pawlenty for Senate 2014" talk from now on.


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