FBI: Blagojevich Wanted Corporate Board Bribe

"Monetizing" your relationships in government come in so many interesting forms in the allegations against recently arrested Illinois Gov. Rod R. Blagojevic that it's tough to know where to start. The most noteworthy for shareholders: He allegedly figured landing his wife on corporate boards could net him a spare $150,000 a year or so.

From the FBI's complaint (via WSJ):

ROD BLAGOJEVICH stated that if his wife could get on some corporate boards and “picks up another 150 grand a year or whatever” it would help ROD BLAGOJEVICH get through the next several years as Governor.

Corporate boards scandals are nothing new (see: Enron or Hewlett-Packard), but this is the first one I remember where a board seat was being bartered as a bribe.

It's not, however, the only time politics and corporate board membership have crossed paths lately. For example, Indiana Senator Evan Bayh's wife Susan made $837,000 last year by sitting on seven, including Wellpoint, E*Trade Bank, and others, according to Bloomberg.