Dick Armey's $8 million Tea Party payoff

[Puppycow]

FreedomWorks tea party group nearly falls apart in fight between old and new guard

The day after Labor Day, just as campaign season was entering its final frenzy, FreedomWorks, the Washington-based tea party organization, went into free fall.

Richard K. Armey, the group’s chairman and a former House majority leader, walked into the group’s Capitol Hill offices with his wife, Susan, and an aide holstering a handgun at his waist. The aim was to seize control of the group and expel Armey’s enemies: The gun-wielding assistant escorted FreedomWorks’ top two employees off the premises, while Armey suspended several others who broke down in sobs at the news.

The coup lasted all of six days. By Sept. 10, Armey was gone — with a promise of $8 million — and the five ousted employees were back. The force behind their return was Richard J. Stephenson, a reclusive Illinois millionaire who has exerted increasing control over one of Washington’s most influential conservative grass-roots organizations.

Stephenson, the founder of the for-profit Cancer Treatment Centers of America and a director on the FreedomWorks board, agreed to commit $400,000 per year over 20 years in exchange for Armey’s agreement to leave the group.

Some suggested that it was an "armed coup" although that may be a bit of hyperbole. The man in question was a former Capitol Hill police officer and he didn't brandish his weapon or anything like that. But his presence suggests that Armey thought there might be some trouble.

Matt Yglesias comments:
Dick Armey Is Living The American Dream of Getting Paid Millions To Not Do Anything

Amy Gardner has a great piece on how Dick Armey tried to seize control of FreedomWorks but ended up losing out and getting paid off by a top-dollar donor to leave and let Matt Kibbe and the donor run things.

The only criticism I have of the article is the that she says that "by nearly all accounts, including from those loyal to him, Armey handled his attempted coup badly." But look at the outcome. Instead of the pain-in-the-ass job of running FreedomWorks, Armey now has $8 million and zero responsibilities. That's a pretty sweet outcome.

Just one example of how a powerful position in congress can lead to riches after one leaves congress.

 

[BenBurch]

Wow, how utterly and openly corrupt.