Last year, 64 former congressmen sat on corporate boards — and made $357,000 each

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published 28 October 2016

Last year, 64 former Congress members sat on corporate boards — 31 Democrats and 33 Republicans — earning an average $357,182 each, roughly twice what they earned as lawmakers. Former House Majority Leader Eric Cantor made a whopping $2 million last year serving on the board of investment bank Moelis & Co., Bloomberg reports.

Since 1992, 44 percent of former senators and 11 percent of former representatives have become corporate directors. Some watchdog groups cry foul, saying "a lawmaker might hold his or her fire on an issue to increase the odds of getting a director job" after his tenure in Washington. But others point out it's unfair to demonize former politicians for seeking another career later in life.