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Revolving Door Spins Quickly Between Congress and Wall Street
New Analysis Shows Connections Between Congressional Banking Committees and Financial Sector Lobbyists
WASHINGTON
Organizations in the financial services sector have deployed at least
1,447 former federal employees to lobby Congress and federal agencies
since the beginning of 2009, according to a joint analysis of federal
disclosure records and other data released today by Public Citizen and
the Center for Responsive Politics.
This small army of registered financial services sector lobbyists
includes at least 73 former members of Congress, of whom17 served on the
banking committees of either the U.S. House of Representatives or the
Senate. At least 66 industry lobbyists worked for these committees as
staffers, while 82 additional lobbyists once worked for congressional
members who currently serve on these key committees.
Further, at least 42 financial services lobbyists formerly served in
some capacity in the U.S. Treasury Department. At least seven served in
the Office of the Comptroller of the Currency, including two former
comptrollers.
" Wall Street hires former members of Congress and their staff for a
reason," said David Arkush, director of Public Citizen's Congress Watch
division. "These people are influential because they have personal
relationships with current members and staff. It's hard to say no to
your friends, but that's what Congress needs to do. Listening to them
would result in a bill that would fail to get the job done and would
disappoint the American people."
Added Sheila Krumholz, executive director of the Center for
Responsive Politics, "Companies pay a premium for lobbyists who've spun
through the revolving door because it can be a small price to pay
relative to the huge payoff if they can shape legislation. These
lobbyists tap insider knowledge and personal relationships, knowing that
their old friends and former co-workers won't want to let them down."
Prominent former congressional members now lobbying on behalf of
financial services sector interests include two former Senate majority
leaders (Bob Dole, R-Kan., and Trent Lott, R-Miss.), two former House
majority leaders (Dick Armey, R-Texas, and Dick Gephardt, D-Mo.) and a
former speaker of the House (Dennis Hastert, R-Ill.).
The analysis is drawn from lobbying disclosure information filed with
the secretary of the Senate, as well as the Center for Responsive
Politics' data.
The report includes tables listing former members of Congress, former
staffers for the banking committees and lobbyists who previously worked
for current banking committee members.
The report is available at https://www.citizen.org/documents/FinancialRevolvingDoors.pdf.
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
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'Changes In the Heart of Winter': NOAA Report Documents Warmest Arctic Year on Record
"After 20 years of continuous reporting, the Report Card stands as a chronicle of change and a caution for what the future will bring," report contributors said.
Dec 17, 2025
The Arctic just experienced its warmest air temperatures on record between October 2024 and September 2025 as the climate crisis dramatically alters the region, the National Oceanic and Atmospheric Administration found in its 20th Arctic Report Card.
The annual report, released Tuesday, also notes the Arctic's lowest maximum sea-ice extent and its wettest year on record. The past 10 years have been the warmest recorded in a region that is heating at two to four times the global average.
"After 20 years of continuous reporting, the Report Card stands as a chronicle of change and a caution for what the future will bring," report editors Matthew Langdon Druckenmiller, Rick Thoman, and Twila A. Moon wrote in the executive summary. "Transformations over the next 20 years will reshape Arctic environments and ecosystems, impact the well-being of Arctic residents, and influence the trajectory of the global climate system itself, which we all depend on."
Arctic warming is not confined to the spring and summer months, but marks a full-year transformation, with fall 2024 being the warmest Arctic fall on record and winter 2025 the second-warmest winter. While snow levels do remain high in the winter months, they consistently drop by June, with snow cover during that month now about half of 1960s levels. Precipitation in the winter months is also not limited to snow.
"We can point to the Arctic as a far away place but the changes there affect the rest of the world.”
At sea, ice extent is also shrinking in the winter, with March 2025 seeing the lowest maximum sea-ice extent in nearly 50 years of satellite data. The oldest, thickest ice has shrunk by over 95% since the 1980s, and its domain has constricted to areas north of Greenland and the Canadian archipelago.
“There’s been a steady decline in sea ice and unfortunately we are seeing rain now even in winter,” Druckenmiller told the Guardian. “We are seeing changes in the heart of winter, when we expect the Arctic to be cold. The whole concept of winter is being redefined in the Arctic.”
Warming temperatures are also driving changes in ecosystems, with more southern species and conditions shifting northward both on land and at sea. On land, this happens via the "greening" of the tundra and the spread of boreal species into the Arctic. At sea, warmer, saltier water is shifting north, driving the "Atlantification" of the Arctic, which exacerbates ice melt and threatens to destabilize ocean circulation patterns.
Changes are also occurring on the Pacific side of the Arctic Ocean, with Arctic species declining by two-thirds in the northern Bering Sea and one-half in the Chukchi Sea.
“We are no longer just documenting warming—we are witnessing an entire marine ecosystem transform within a single generation,” Hannah-Marie Ladd, director of the Indigenous Sentinels Network on the Aleut community of Saint Paul Island, said at a conference unveiling the report.
Ocean warming, the melting of glaciers, and melting permafrost are increasing weather hazards and other dangers for Arctic communities. For example, warm ocean temperatures fueled ex-Typhoon Halong in October 2025, which forced over 1,500 people to evacuate from Alaska's southwestern coast and nearly destroyed two villages.
Glacier melt has increased the risk of sudden flooding and landslides, while the melting of permafrost is leading to the phenomenon of "rusting rivers," as oxidized iron from melting permafrost enters the water and degrades water quality.
These impacts aren't limited to the Arctic. The Greenland ice sheet, for example, lost 129 billion tons of sea ice, which contributes to global sea-level rise.
“We are seeing cascading impacts from a warming Arctic,” Climate Central scientist Zack Labe told the Guardian. “Coastal cities aren’t ready for the rising sea levels, we have completely changed the fisheries in the Arctic, which leads to rising food bills for seafood. We can point to the Arctic as a far away place but the changes there affect the rest of the world.”
The report comes as the Trump administration has moved to censure federal climate scientists and cut staffing and funding for government science.
Outside researchers noted that the administration did not seem to have significantly altered the content of the 2025 Arctic Report Card.
“I honestly did not see much of a tone shift in comparison to previous Arctic report cards in years past, which was great to see,” Climate Central media director Tom Di Liberto told NBC News. “The implications of their findings are the same as past Arctic report cards. The Arctic is the canary in the coal mine.”
"The Trump administration’s cuts to budgets, staffing, and resources for science are already affecting data and research related to the Arctic."
Druckenmiller also told reporters that the team “did not receive any political interference with our results.”
However, the 2024 Arctic Report Card urged a "global reductions of fossil fuel pollution," in its subhead, an exhortation missing from the 2025 version.
The 2025 report did refer to the impacts of federal funding cuts, discussing "vulnerabilities and risks facing nationally and internationally coordinated observing programs, especially amid risks of diminishing US investments in climate and environmental observations," as Druckenmiller, Thoman, and Moon wrote.
"The Trump administration’s cuts to budgets, staffing, and resources for science are already affecting data and research related to the Arctic," the Union of Concerned Scientists (UCS) posted on social media in response to the release.
However, even if the report did not highlight the causes of the climate emergency, it's ultimate message was unmistakable, UCS said: "It’s clear that fossil fueled climate change is having an alarming effect on the vital signs of this unique, crucial region of the world."
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Pranksters Trick Former US Official Into Admitting Ukraine War Was Preventable
"This is as close to a smoking gun as I've ever seen on Ukraine," said one observer.
Dec 17, 2025
A former senior Biden administration official admitted during a recent interview with who she thought were aides to Ukraine's president that the Russian invasion of Ukraine could have been averted if Kyiv had agreed to stop seeking NATO membership.
Amanda Sloat—a former special assistant to then-President Joe Biden and senior director for Europe at the National Security Council—believed she was speaking with aides to Ukrainian President Volodymyr Zelenskyy last week when she sat down for a phone interview with who turned out to be the Russian prankster duo known as Vovan and Lexus.
“We had some conversations even before the war started about, what if Ukraine comes out and just says to Russia, ‘Fine, you know, we won’t go into NATO, you know, if that stops the war, if that stops the invasion’—which at that point it may well have done,” Sloat said. “There is certainly a question, three years on now, you know, would that have been better to do before the war started, would that have been better to do [at the] Istanbul talks? It certainly would have prevented the destruction and loss of life.”
However, Biden officials chose not to address Russia's main concerns regarding Ukraine and NATO—with disastrous results.
Sloat explained that she "was uncomfortable with the idea of the US pushing Ukraine" against pursuing NATO membership, "and sort of implicitly giving Russia some sort of sphere of influence or veto power on that."
"I don’t think [then-President Joe] Biden felt like it was his place to tell Ukraine what to do then, to tell Ukraine not to pursue NATO," she said.
Sloat is the latest in a series of former US officials who have fallen victim to Vovan and Lexus' pranks, including ex-Secretaries of State Hillary Clinton and Mike Pompeo, UN Ambassador Samantha Power, and senior State Department official Victoria Nuland—who played a key role in a plot to overthrow the pro-Moscow government of then-Ukrainian President Viktor Yanukovych during the Euromaidan uprising of 2013-14.
Sloat's remarks during the interview implicitly belied the prevalent Western prewar narrative of an unprovoked Russian invasion—an assertion that ignored decades of provocation, beginning with the betrayal of a 1990 assurance by then-US Secretary of State James Baker to Soviet President Mikhail Gorbachev that NATO would not expand "one inch eastward" if the Soviets cooperated on German reunification.
Not only did NATO admit 13 new nations between then and the start of Russia's 2022 invasion, all of the new members were countries formerly in Moscow's orbit, and three—Estonia, Latvia, and Lithuania—were ex-Soviet republics. The Biden administration's public pronouncements of an "open door" to Ukrainian NATO membership continued right up to Russia's invasion, and were particularly intolerable for Moscow—even if Russian leaders understood that the US was actually more opposed to Kyiv joining the alliance than in favor of such a potentially fraught outcome.
Responding to the prank, French political commentator Arnaud Bertrand said on X that "this is as close to a smoking gun as I've ever seen on Ukraine."
"Hundreds of thousands dead, a country in ruins, and the justification is America being 'uncomfortable' about not preserving optionality," he added. "Not even an actual gain—just the theoretical possibility of one day pulling Ukraine into NATO. The banality of evil."
"All of this will surely go down as one of the great missed opportunities of history."
Sloat's comments, noted Norwegian political scientist Glenn Diesen, come "after our political-media establishment has for four years smeared, censored, and cancelled anyone who claimed that NATO expansion triggered the war."
Referring to Sloat's acknowledgment that Russia's invasion of Ukraine could have been averted with a guarantee of Ukrainian neutrality, Jacobin staff writer Branko Marcetic wrote for Responsible Statecraft Tuesday that she "is not the first to have made this admission."
"As I documented two years ago, former NATO Secretary General Jens Stoltenberg and former Biden Director of National Intelligence Avril Haines both likewise explicitly said that NATO’s potential expansion into Ukraine was the core grievance that motivated Putin’s decision to invade, and that, at least according to Stoltenberg, NATO rejected compromising on it."
"Zelensky has now publicly agreed to this concession to advance peace talks—only three years later, with Ukraine now in physical ruins, its economy destroyed, hundreds of thousands of casualties, and survivors traumatized and disabled on a mass scale," he lamented.
"All of this will surely go down as one of the great missed opportunities of history," Marcetic added. "Critics of the war and NATO policy have long said the war and its devastating impact could have been avoided by explicitly ruling out Ukrainian entry into NATO, only to be told they were spreading Kremlin propaganda. It turns out they were simply spreading Biden officials' own private thoughts."
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Trump's Surging LNG Exports Cost US Consumers $12 Billion in Just 9 Months
"Trump explicitly promised voters he would slash utility bills by half within the first year, yet in the first nine months of his term, they surged," said the author of Public Citizen's new report.
Dec 17, 2025
Underscoring expert warnings that exporting liquefied natural gas not only worsens the climate emergency but also drives up energy prices for Americans, Public Citizen revealed Tuesday that as LNG exports surged under the Trump administration, US households paid $12 billion more in utility bills from January through September than they did last year.
In other words, "the costs borne by residential consumers in the first nine months of 2025 are up 22%," or an average of $124 per family, according to an analysis of federal data by Tyson Slocum, director of the consumer advocacy group's Energy Program and author of the new report. "LNG exports are also up 22% over that same time."
His report highlights President Donald Trump's 2024 campaign pledges, pointing to a Newsweek op-ed and various speeches across the country. Slocum said in a statement that "Trump explicitly promised voters he would slash utility bills by half within the first year, yet in the first nine months of his term, they surged, squeezing some of the country's most vulnerable households."
Now, "1 in 6 Americans—21 million households—are behind on their energy bills," which "are rising at twice the rate of inflation," the report states. "Even registered Republican voters are increasingly blaming President Trump for the affordability crisis."
"Limiting or prohibiting LNG exports would provide immediate relief for households across the country, but it would require action from the White House."
It's not just "higher domestic natural gas prices, driven primarily by record LNG exports," affecting US utility prices, the report acknowledges. Other factors include "electric transmission and distribution costs, which include extreme weather and wildfire liabilities. These costs are administered by state or federal regulators and have been exacerbated by climate change."
"Electricity demand load growth, driven by the rise of artificial intelligence data centers, along with transportation electrification," is also having an impact, the document details. Additionally, "Trump's unprecedented cancellation and revocation of billions of dollars of permitted renewable energy projects, combined with his unlawful abuse of emergency authorities to impose punitive tariffs, have injected chaos into domestic supply chains, stifling domestic investment in energy infrastructure."
As the report explains:
Of these four factors, record natural gas exports not only represent the largest impact on natural gas prices, but feature clear statutory solutions to help protect consumers. The Natural Gas Act—passed by Congress during the Great Depression—asserts in Section 1 that "the business of transporting and selling natural gas for ultimate distribution to the public is affected with a public interest," with the US Supreme Court affirming that the "primary aim" of this 87-year-old law is "to protect consumers against exploitation at the hands of natural gas companies." Section 3 of the law forbids exports of natural gas unless the Department of Energy determines the exports to non-Free Trade Agreement countries are "consistent with the public interest."
Rather than living up to those obligations, Slocum said, "Energy Secretary Chris Wright and Interior Secretary Doug Burgum have acted as global gas salesmen, traveling to Europe to push exports and gut European methane regulations while attacking mainstream climate science. Meanwhile, Trump has done nothing to keep prices down at home."
"Limiting or prohibiting LNG exports would provide immediate relief for households across the country, but it would require action from the White House," he added. "Trump would need to stand up to some of his fossil fuel donors to make our energy more affordable."
It's not just Public Citizen pushing for action by the president. US Sen. Edward Markey (D–Mass.)—the upper chamber's leading champion of the Green New Deal—joined a press event for the group's new report. He stressed that "record-breaking levels of natural gas exports are breaking the bank on your monthly energy bill."
Public Citizen released the report just a day after Bloomberg also noted what the export boom means for US energy prices.
"We have been talking about, in apocalyptic terms, for a decade now when the world would start taking away America's cheap gas," Peter Gardett, CEO of Noreva, an energy trading platform specializing in power, told Bloomberg. "Well, we're here."
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