While MF Global sank, lobbying went on as usual

By Laurie Bennett

November 1, 2011 at 8:40am

MF Global Holdings, the brokerage led by former New Jersey Gov. Jon Corzine, lobbied Washington right up to the verge of bankruptcy.

The company, which filed for Chapter 11 protection Monday, employed Delta Strategy Group to monitor the activities of the Commodity Futures Trading Commission. It has paid the lobby shop $60,000 this year. The most recent lobbying report, filed on Oct. 20, listed $20,000 in third-quarter expenditures.

Spending in 2011 was trending slightly higher than the previoius year, when the company spent a total of $70,000.

Delta Strategy has close ties to the government commission. Co-founder Jim Newsome was appointed to the agency by President Clinton and became chairman during George W. Bush’s administration.

Another Delta co-founder, Scott Parsons, was the commission’s chief of staff and chief operating officer.

The commission, which regulates commodity futures and options markets, is currently chaired by Gary Gensler, a former Treasury under secretary.

Like Corzine, Gensler is a former Goldman Sachs partner who raised money for Hillary Rodham Clinton’s presidential campaign.

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