JOHN BOEHNER, THE RETIRED speaker of the House, is monetizing his decades of political relationships and cashing out to serve some of the most powerful special interests in the world.
Boehner is joining Squire Patton Boggs, a lobbying firm that peddles its considerable influence on behalf of a number of foreign nations, including most notably the People’s Republic of China. Serving Beijing is somewhat appropriate: Boehner has long been a supporter of unfettered trade, helping to lead the effort to grant Most Favored Nation status to China. Squire Patton Boggs also represents a long list of corporate clients, including AT&T, Amazon.com, Goldman Sachs & Co., Royal Dutch Shell, and the Managed Funds Association, a trade group for the largest hedge funds in the country.
Boehner is signing onto Squire Patton Boggs “as a strategic advisor to clients in the U.S. and abroad, and will focus on global business development.”
The news comes just a week after the announcement that Boehner will be joining the board of Reynolds American, the tobacco company responsible for brands such as Camel and Newport cigarettes. The tobacco board seat will likely earn Boehner over $400,000 a year in stock and cash. The Squire Patton Boggs salary has not been disclosed, but lawmakers of Boehner’s stature have easily obtained salaries at similar gigs in the seven-figure range.
Boehner is reportedly declining to register as a lobbyist for his new job at a lobbying firm, but that label makes little difference these days. Thousands of professionals engaged in government affairs positions work to influence policy on behalf of well-heeled special interests every day without registering under the Lobbying Disclosure Act. The law governing lobby registration is virtually unenforced.