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Republicans Pocketed MF Global Money, Too

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Last month, we reported on how Republicans have seized on the MF Global scandal to score political points by putting out a press release calling for congressional Democrats to return campaign funds donated to them by ex-New Jersey governor and disgraced MF Global CEO John Corzine.
“Jon Corzine, Obama bundler, Obama Wall Street point man, golden parachute” was the title of one GOP press release. Roll Call also quotes a National Republican Congressional Committee official, Joanna Burgoes, as saying, “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.”
However, it perhaps was not the wisest move to call the Democrats out for receiving funds from Corzine and MF Global because, as it turns out, the Republican Party has also been a beneficiary of donations from the financial firm. According to Roll Call, many employees at MF Global and the lobbying firms that the defunct brokerage hired all have donated large sums of money to Republicans in the past.

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.

It is not really surprising to learn that MF Global, though headed by Democrat Jon Corzine, has actually been doling out campaign donations to both political parties. As Daily Finance notes, plenty of large corporations like Dow Jones (^DJI) components  AT&T (T), JP Morgan Chase (JPM) and Microsoft (MSFT) have hedged their bets and donated generously to the Democrats and Republicans in hopes of being able to influence policymaking decisions -- regardless of which party is in power.
Meanwhile, as Democratic and Republican congressional leaders debate whether or not to return money from MF Global -- so far, only Rep. Kathy Hochul, a Democrat from New York, has done so -- the Congressional Agriculture Committee continues on its quest to find out just where on Earth those missing client funds are.
(See also: Obama Will Return Corzine's Campaign Cash, All ... $5,000 Of It, Why the MF Global Crisis Matters More Than You Think: 3 Key Lessons, Maybe MF Global's Missing Client Cash Went to a Credit Union)
POSITION:  No positions in stocks mentioned.