Ron Klain, former K Street lobbyist for Fannie Mae, is leaving Vice President Biden's office, where he is chief of staff. Biden sends him off warmly, noting "For 25 years, Ron Klain has been my friend and advisor."

In between his stints under Vice Presidents Gore and Biden, Klain was a lobbyist at the K Street firm O'Melveny & Myers where his clients were Fannie Mae and Time Warner.

Klain's deputy, Alan Hoffman, is also a longtime Biden confidant and a revolving-door type who served a stint on K Street.

Klain is headed out to work for an investment firm. Let's see how much of his investment involves profiting off of public policy.

For more on Biden's closeness with lobbyists, check out my column, "Joe Biden's Merry Band of Lobbyists."

p.s. I should note that Klain deserves credit for a memo he circulated critiquing windmill subsidies.