“The NRCC hypocrisy is laughable as they keep money from Jack Abramoff, who was convicted of crime, and now have a finance chairman, Vern Buchanan, who is under criminal investigation for a fundraising scheme,” DCCC spokesman Jesse Ferguson said. Rep. Vern Buchanan (R-Fla.) is the target of a Justice Department probe involving allegations that he received pass-through contributions from employees at car dealerships he owned.
Most recently, a long list of House Democrats returned more than a half-million dollars’ worth of contributions from Reps. Charlie Rangel (N.Y.) and Maxine Waters (Calif.), amid ethics controversies.
But the Corzine matter underscores the limits and pitfalls of holding lawmakers accountable for the bad behavior of their donors. While the NRCC touts that Corzine has given the DCCC $150,000, that figure covers a two-decade time span. In this election cycle and the one preceding it, Corzine’s DCCC donations totaled only $15,000.
MF Global employees as a whole have given out just under $385,000 in campaign contributions since 2005, according to the Sunlight Foundation, roughly a quarter of it to Republicans, including more than $5,000 to the NRCC. MF Global also has spent more than $2 million on lobbying since 2006, according to the CRP, retaining the Delta Strategy Group, Quinn Gillespie & Associates and the Rich Feuer Group to represent it.
Lobbyists at those firms have in turn doled out millions in campaign contributions over the last several years. In the 2010 election cycle, more than half of the $440,000 or so that Quinn Gillespie employees gave out went to Republican candidates. In this election cycle and the two previous ones, firm partners and associates gave $17,750 to the NRCC. More than half of the $104,600 that Rich Feuer Group employees gave out in the last election cycle went to Republicans.
Both Democrats and Republicans on the House Agriculture Committee grilled Corzine at a public hearing last week, and their Senate counterparts are expected to do so today. Corzine has said that he cannot explain how some $1.2 billion in customer funds have gone missing or how the firewall between customer and firm funds broke down. Affected investors include Farm Belt corn growers and ranchers.
The House Financial Services Committee has also scheduled a Thursday hearing on the collapse of MF Global, which is the target of civil and criminal investigations as well. For leaders from both parties, the hearings are furnishing an opportunity to assail Wall Street abuses. When it comes to Wall Street money, though, not many on Capitol Hill can claim to have clean hands.