Eric Cantor Joins Investment Bank

Former GOP House Majority Leader Eric Cantor, who suffered a stunning primary defeat this summer at the hands of an unknown Tea Party candidate, has joined Wall Street. And the teabaggers are screaming, "Told you so."

Kevin Broughton, communications director of the Tea Party Patriots Citizens Fund, said, "many analysts accused Eric Cantor of paying more attention to Wall Street than to the people of Virginia's 7th District. He certainly didn't waste any time validating that theory." Since 1999, the seven-term congressman had raised more than $3 million from the investment industry. And in his last campaign, the industry was his largest contributor, donating $785,000, according to the Center for Responsive Politics. For disaffected conservatives, especially among the tea party, which came to life early in the Obama administration and took on a populist message, Cantor's move to a boutique investment bank, Moelis & Co., as a vice chairman and board member is proof that their concerns were spot on.