What Did Harold Ford Do at Merrill Lynch? (Mother Jones)

[KoKo]

What Did Harold Ford Do at Merrill Lynch?
Ford may run for the Senate. But first he needs to explain what he did on Wall Street for the past three years.

By Nick Baumann | Thu Jan. 21, 2010 3:23 AM PST

What did Harold Ford Jr. do at Merrill Lynch?

The former Democratic congressman has been working for the giant investment firm ever since losing his 2006 Senate bid in Tennessee. Recently, Ford took a 30-day leave of absence <1> to explore another Senate run—this time for the New York seat currently held by Kirsten Gillibrand. But Ford won't explain what he has done for the investment bank during his three years on Wall Street. In that time, Merrill Lynch nearly collapsed, was bailed out by US taxpayers, and went through a troubled merger with Bank of America.

Ford also won't say whether he received one of the controversial bonuses that Merrill paid—allegedly with bailout money—in advance of the Bank of America merger, but the Memphis Flyer reported <2> he "almost certainly" did.

Ford's official job description <3>—"vice chairman and senior policy adviser"—doesn't reveal much. When Merrill Lynch hired him in February 2007, the company announced <3> that he would "advise senior management on domestic policy issues, serve as a member of the firm's public policy and social responsibility management committee, and support a variety of business development initiatives."

But what does that actually mean?

With bankers and their bonuses all over the news, a sharp politician like Ford—who also has a gig as an MSNBC commentator <4> and serves as chairman of the Democratic Leadership Council <5>—would presumably be prepared to answer that question. Yet in an email exchange with Mother Jones, a Ford spokesperson would not provide any details about his boss' day-to-day duties. The spokesperson would only note that Ford engages in "business development"—he didn't refer to any work related to public policy or social responsibility. The Merrill Lynch media relations department did not answer repeated calls. A Bank of America spokeswoman promised to respond to an inquiry about Ford's responsibilities at Merrill Lynch, but never did.

It's not hard to guess why the investment firm hired the five-term congressman. "If a company hires a former politician oftentimes that will give them access to a great number of contacts that they wouldn't have had otherwise," says Dave Levinthal, a spokesman for the Center for Responsive Politics, a good-government group that monitors the revolving door between government and industry.

Ex-politicians who served on regulatory committees are especially prized in the corporate world. And Ford served on the House Financial Services Committee—the panel that regulates firms like Merrill and Bank of America. In fact, the two firms were Ford's eighth- and ninth-largest industry donors over the course of his congressional career.

More at............
http://motherjones.com/politics/2010/01/what-did-harold-ford-do-at-merrill-lynch

[katandmoon]

1. If he won't say he didn't, then he did

[zeemike]

2. Well you can't own a government if you don't pay them off.

And that is exactly how they bought and paid for this government.
Bribes are old school.

[Faryn Balyncd]

3. He's an in-house lobbyist, bribe-negotiator/liason....

(k and r)





:hi:



:kick:

[JohnWxy]

4. I think "advise senior management on domestic policy issues,..."

means he was a lobbyist (undeclared). Those with DC contacts often trade them for cash.

[Desperadoe]

5. Am I to understand that...

....all this time, while Ford has been the head of the DLC, he has been employed as a bankster at Merrill Lynch? WTF kind of shit is that!!!

[BirminghamExaminer]

6. All I know is that he is a DIXIECRAT.....

I can't remember exactly what his campaign platform was when he lost in 2008 but I seem to remember that his profile read like a conservative Republicans' so I just know I wouldn't vote for him for anything.

[julian09]

7. He was also on FOX NEWS for a while as analyst

then went to mnbc. I think he would be another conservadem, we don't need.

[4_TN_TITANS]

8. Ford is starting to creep me out....

I'm beginning to believe that we (Tennessee) might have chosen the better man by not electing Ford to the Senate. What he's done since the lost election absolutely reeks of corruption.