MILES O'BRIEN, CNN ANCHOR: National employment figures don't reflect the many political jobs that are lost with each change of an administration, but it isn't a reason for tears. Many former political operatives mark time working elsewhere or not until another government post comes up. In fact, the phenomenon is so common it even has a name, the revolving door. CNN's Peter Viles with that.</s>VILES (voice-over): It's a Washington ritual as sure as the inauguration of a new president and the blooming of the cherry blossoms, the revolving door through which government officials parlay their inside knowledge into lucrative private sector jobs. Earlier this month it was Jack Quinn, the former White House Counsel, now in private practice, convincing his old boss to pardon Marc Rich. This week it was Joel Klein, the top anti-trust official in the Clinton administration, joining the German media giant Bertelsmann as its top U.S. executive and legal adviser.</s>EISNER: But he's not being brought in for his expertise. He's being brought in for his access. He knows how to walk the halls of power. He knows the very people that he used to be working with.</s>VILES: Former Defense Secretary William Cohen is starting a consulting firm. Under the revolving door law, he has to wait a year before lobbying his old subordinates at the Pentagon. There's nothing new about trading political power for corporate clout. (on camera): What is unusual now is that President Clinton had promised to change all that. The day he took office, he extended the one year lobbying ban to five years. But then last month, very quietly, he revoked the five year ban. (voice-over): Joe Lockhart is trading the White House briefing room for Silicon Valley and Oracle. Mike McCurry is running a dot.com, Grassroots.com. As for the former President, he joins the private sector next week in Florida when he addresses a Morgan Stanley Dean Witter junk bond conference. His fee, reportedly $100,000. Peter Viles, CNN Financial News, Washington.
Political Jobs are Cut With Each Change of Administration