Emanuel Used Political Connections to Leverage Personal Wealth

My November 14, 2008 Washington Examiner column:

As a fundraiser, as a policymaker, and as a businessman, Emanuel has hitched himself to those businesses particularly dependant on government—and he has been rewarded nicely.

Studying Emanuel’s brief stint—between his “public service” jobs in the Clinton White House and the U.S. House of Representatives—as a corporate dealmaker provides insight into the functioning of the “revolving door” Obama seems to deplore.

Emanuel left the Clinton White House in late 1998 with a job offer in hand from investment banker Wasserstein Perella & Co. Emanuel, with no experience outside of politics and no MBA, took a high perch as a managing director at Wasserstein Perella, and proceeded to get very rich.

Surely Emanuel’s work ethic, focus, and effectiveness were critical to his job success, but looking at the deals he worked on, it’s unarguable that government connections were what made him the best man for the job.