What Eric Cantor Will Really Do on Wall Street

New York magazine talked with Dannis Kelleher about What Eric Cantor Will Really Do on Wall Street.

"'Let’s look at Cantor’s résumé. Let’s look at all his investment-banking experience. Let’s look at his capital-markets experience. He has none. He has no experience or skills that would qualify him to be even an intern at a fifth-tier firm in the financial industry. I mean, come on! I love the spin. They’re pushing back this morning. They’re saying, 'This is really different! This isn’t like everybody else.'

'But Wall Street always goes with the sure bet and the well-worn path. They’re paying him a guaranteed — you’ve got to love Wall Street, you guarantee money because you can’t fail on Wall Street — they’re guaranteeing him $3.8 million. You don’t guarantee someone $3.8 million because you’re training him to be an investment banker.

'Wall Street is after what it’s always buying in Washington: access, influence, and unfair advantage. And Cantor is a big catch for anybody who wants access. Look, if you’re in congressional leadership for X number of years, you know plenty that’s worth a lot of money. If you’re the majority leader, who’s in charge of the agenda and vote counting? One of your jobs is to make sure you’re doling out favors to people. There are dozens and dozens of House members indebted to Eric Cantor for the things he’s done for them. You’re worth a lot."