Obama nominates top Wall Street lobbyist with Fannie Mae background

Remember President Obama's harsh words for that “army of industry lobbyists from Wall Street”? Remember how Obama claimed lobbyists wouldn't work in his administration?

I wonder if Thomas Nides does.

During the Wall Street regulation debate, Nides was chairman of the board of industry's top lobby group, the Securities Industry and Financial Markets Association (SIFMA). In his SIFMA role, Nides wasn't registered as a lobbyist, but at Morgan Stanley, he had been a registered lobbyist.

And, as is obligatory for Democratic moneymen, Nides was an executive at Fannie Mae.

Now, Nides is in line to be the No. 2 at the State Department.

The Washington Times has the story:

President Obama's nominee for deputy secretary of state has earned more than $8 million in salary and bonuses since January 2009 as an executive at a Wall Street bank that received a federal bailout.

Thomas R. Nides, a six-figure fundraiser for Hillary Rodham Clinton during her 2008 presidential run, disclosed his compensation from Morgan Stanley in a recent filing with the U.S. Office of Government Ethics.

Mr. Nides, the company's chief operating officer, also said he remains eligible for additional bonus money at Morgan Stanley, which repaid its share of the federal bailout last year.

This position requires confirmation, so I'm not yet adding Nides to my list of former lobbyists in senior positions in the Obama administration.

Beltway ConfidentialUS

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