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Story Archives: Louisiana suffers another blow
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Louisiana suffers another blow
When Congressman Richard Baker of Baton Rouge announced Tuesday he would resign from the House of Representatives Feb. 7 Louisiana learned it was losing another member of the state's congressional delegation who carried a rather big stick on Capital Hill.
Baker is leaving Congress to become president and CEO of the Managed Fund Association. That's a somewhat fancy title for a lobbyist, which is what Baker will be doing for the association of hedge funds.
As a member of the House Financial Services Committee, Baker developed a reputation for being an expert on financial concerns, including the banking and investing industry.
Obviously, the Managed Fund Association was impressed with Baker.
In the past several years, we have watched Louisiana's clout in Washington diminish.
Billy Tauzin left the House following a distinguished career; John Breaux retired from the Senate. They're lobbyists now, earning big money.
Meanwhile, Bobby Jindal resigned from the House to become governor, while Congressman Jim McCrery has plans to leave Congress when his current term ends in a year. McCrery is expected to become a lobbyist, too.
In all, it doesn't bode well for Louisiana. |
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