GOP officials have seized on the downfall of Jon Corzine, the embattled Wall Street investor and former Democratic politician who returns to Capitol Hill for questioning today, as a political gift.
But the controversy around Corzine, who’s emerged as a symbol of reckless Wall Street trading, may hold as much peril for Republicans as it does for Democrats. While Corzine has given $3.9 million to Democrats over two decades, according to the Center for Responsive Politics — money that National Republican Congressional Committee officials now say is tainted and should be returned — Republicans have also been well-funded by his firm.
Employees at MF Global, the now-bankrupt brokerage firm where Corzine was CEO, have given big money to Republicans as well as Democrats over the years, including to the NRCC. Moreover, Washington lobbying firms that MF Global retained gave a disproportionate share of their campaign donations to Republicans.
That hasn’t stopped the NRCC from calling on Democratic lawmakers and party officials who received donations from Corzine, the former New Jersey governor and Senator, to give the money back. NRCC officials have called on 10 House Democrats who received direct Corzine donations to return them.
They’ve also called on 13 potentially vulnerable lawmakers in the Democratic Congressional Campaign Committee’s Frontline program to return money they received from the DCCC, trumpeting the $150,000 the DCCC has taken from Corzine.
“If you continue to keep this money in your campaign coffers, then you’re endorsing the corruption attached to the person who gave you that money,” NRCC spokeswoman Joanna Burgos said. She said lawmakers who took DCCC money, even though they did not receive donations directly from Corzine, are “being hypocritical” if they do not ask the committee to return it.
So far only one House Member — Rep. Kathy Hochul (N.Y.) — has responded to the NRCC challenge, donating $2,500 from Corzine to a local veterans’ charity. Others on the NRCC list, including Rep. Frank Pallone (N.J.), who received a direct donation from Corzine, and Rep. Kurt Schrader (Ore.), who received DCCC money, declined to comment.
It’s not the first time the NRCC has pressured Democrats to return ostensibly scandal-tainted money. Both DCCC and NRCC officials have issued such calls, Burgos said, but she added: “I can’t think back to an instance where they were as successful as we were.”
Following the Clinton administration scandal involving illegal foreign donors, the Democratic National Committee returned $3 million in questionable contributions. Dozens of lawmakers from both parties returned donations from disgraced lobbyist Jack Abramoff, who was recently released from jail, though NRCC officials said at the time that they did not recommend that GOP candidates return money from Abramoff or his clients.
From left, Lisa Peng, daughter of Peng Ming, Grace Ge Geng, daughter of Gao Zhisheng, and Ti-Anna Wang, daughter of Wang Bingzhang, hold pictures of their imprisoned fathers during a House Subcommittee on Africa, Global Health, Global Human Rights, and International Organizations hearing in the Rayburn House Office Building titled “Their Daughters Appeal to Beijing: ‘Let Our Fathers Go!’”
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.