Barack Obama is creating a boom on K-Street — And that’s a good thing.

The Huffington Post writes:

Barack Obama spent much of his presidential campaign decrying the influence of Washington lobbyists. In the 10 days since he was elected, he already has had an impact: He has touched off a mini-boom on K Street.

Top lobbying firms are gearing up to handle increased demand from corporate clients who fear that the Obama administration will expand its regulatory reach and target them for tax increases.

This is great. It means the moneyed interests that have controlled Washington are running scared. Of course there is a downside as well. Lobbying is a perverse business. Often winning the big fight for their clients is actually a bad thing. Why? Well once the fight is over, their clients will no longer pay $10,000, $30,000 or even $100,000 a month for their services. So fear of the Obama administration will increase revenues in the short term. However it all shows that the insiders are betting on this is not going to be an easy Presidency for K-Street and that’s a good thing.

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