Sunday, January 06, 2008

Baker to lobby for hedge funds

Hedge Fund Lobby Courting Rep. Baker -
By Jeffrey H. Birnbaum Washington Post Staff Writer
Saturday, January 5, 2008; Page D01

Rep. Richard H. Baker (R-La.), a longtime legislative expert on the regulation of capital markets, is in serious talks to become president of the main lobby for hedge funds, the Managed Funds Association. Baker disclosed the talks yesterday to the House ethics committee, becoming the first lawmaker to file a report about job talks as required under the lobbying law that Congress passed last year. Lawmakers must inform the House Committee on Standards of Official Conduct, as the ethics panel is officially known, when they start serious negotiations with outsiders that might want to hire them.

The job is reported to pay over $1 million a year.

Baker will be most remembered for having said after Katrina, "We finally cleaned up public housing in New Orleans. We couldn't do it, but God did."

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