RNC calls on Obama to return Corzine contributions
November 3rd, 2011
03:42 PM ET
9 years ago

RNC calls on Obama to return Corzine contributions

Washington (CNN) - The head of the Republican National Committee is calling on President Barack Obama to return half a million dollars in fundraising Jon Corzine raised on the president's behalf, now that the former one term New Jersey governor's bankrupt brokerage firm is under investigation by the federal authorities.

"In light of the FBI Investigation into Jon Corzine's company, President Obama should immediately return the $500,000 that Corzine raised on his behalf," said RNC Chairman Reince Priebus, in a statement released Thursday.

A government regulator said in court Wednesday that roughly $600 million is missing from the books of bankrupt brokerage MF Global, which is headed by Corzine, a former Goldman Sachs CEO and former Democratic governor of New Jersey and U.S. senator. Corzine's firm filed for Chapter 11 protection on Monday following a panic from investors over its holdings of risky European debt.

The FBI and federal prosecutors are now investigating how some $600 million of MF Global customers' money went missing, CNN learned Tuesday from sources close to the probe.

According to federal election records, employees of the company contributed more than $100,000 to the president's re-election campaign and the Democratic National Committee. And this year Corzine has contributed the maximum legal limit to both the Obama campaign ($5,000) and the DNC ($30,800).

Separately, Corzine is one of 31 people this year who have raised at least $500,000 for the Obama Victory Fund, as a so-called "bundler," a person who solicits campaign contributions from their personal and business networks. Much of that money was brought in at an Obama re-election fundraiser in April that Corzine hosted at his home on Fifth Avenue in Manhattan.

Democratic sources say that if Corzine is charged with any wrongdoings, the contributions he made to both the Obama campaign and the DNC will be returned.

But the RNC says that doesn't go far enough.

"As Obama's 'great friend' and designated 'Wall Street guy,' Corzine did much more than give the maximum $5,000 to the Obama campaign: he bundled at least 100 times that much from his Wall Street friends and fellow executives. While the Obama campaign has entertained the idea of returning the $5,000 Corzine gave himself should he be indicted, that's simply not enough. The entire amount he bundled should be returned immediately.

Filed under: Jon Corzine • President Obama
soundoff (42 Responses)
  1. Mikey

    Surprise, surprise, surprise. There has been no investigation yet and we don't really know the story. By that logic, Herman Cain should immediately end his presidential bid, because there are allegations against him. Oh and the first hint of a possible scandal involving Romney, perhaps he should immediately step down, too.

    Why don't we wait until we actually know something. Then we can figure out what might be reasonable.

    November 3, 2011 04:27 pm at 4:27 pm |
  2. Larry Laguardia

    Corzine bundled contributions from well-heeled Democratic donors. What's the problem with that? It's not illegal, unethical, or unheard of in the RNC either. You got nothing, Reince.

    November 3, 2011 04:30 pm at 4:30 pm |
  3. v_mag

    I'm all for him returning the money. In fact, all candidates should return all money collected from corporations and rich individuals who contribute anonymously through super PACs. All presidential campaigns should be publicly funded, which is one of the main tenets of the OWS movement. (For all you who insist you've never heard a single coherent demand from OWS, now you have!) Corporate money corrupts all candidates for national office and is a primary reason why our country is so screwed up.

    November 3, 2011 04:33 pm at 4:33 pm |
  4. Sniffit

    "That's ridiculous but that pretty much describes the GOP. Now, about those funds Cain got..."

    Been saying this on the Ticker for almsot a week now. Cain's campaign was funded by a non-profit owned by Block AFTER he filed his official paperwork. ILLEGAL ILLEGAL ILLEGAL. And there are other illegalities indicated as well. Yet...the MSM is purpsoefully avoiding the story and trying to distract everyone with Hermy's sexist nonsense. Why? Becuase in the end, the sexism is less damaging and the MSM is desperate to keep this a horse race they can bobblehead about.

    November 3, 2011 04:36 pm at 4:36 pm |
  5. Dan from Tx

    You mean the way the RNC told GWB to return Enron's contributions?????

    November 3, 2011 04:37 pm at 4:37 pm |
  6. whoa!

    yea, we'll do that just as soon as all of the Koch money is returned... fair trade?

    November 3, 2011 04:47 pm at 4:47 pm |
  7. Debra from Georgia

    Shut up RNC and tell your puppets in the house Senate and Congress to get us those JOBS,

    November 3, 2011 04:49 pm at 4:49 pm |
  8. The Greedy Old PIgs have declared class war on US!

    I call on all the GOBP deathcult members who took donations from the Koch brothers to return the cash immediately because the Kochs were dealing illegally with Iran.

    November 3, 2011 04:52 pm at 4:52 pm |
  9. John K.

    Jon Corzine has become "radioactive" in the last week. The collapse of MF Global is just beginning to reveal a closet full of skeletons. Obama and the Democrats would be well advised to return every dime that was connected to Corzine.

    November 3, 2011 04:55 pm at 4:55 pm |
  10. Little Jimmy Truth

    Point one for RNC.

    Sorry for Corzine. He should stop to support Obama and his personal fund.

    November 3, 2011 04:57 pm at 4:57 pm |

    All of you who wanted to see a Wall Street fat cat go to jail are probably going to get your wish. It may well be Jon Corzine.

    November 3, 2011 04:59 pm at 4:59 pm |
  12. Jules

    Let's all talk about contributions. Nobody knows what happened to that money yet, but we do know what happened to Madoff's and many, many others that probably do not donate to Dems.

    November 3, 2011 05:02 pm at 5:02 pm |
  13. sickofitall

    That's a great photo.. I'm guessing we'll see it again and again once the 2012 election gets going....oh and I think I figured out the change thing Obama talked about in 2008..what he really wanted was to change the party that got to pocket all that special interest money from republicans to democrats..looks like it worked.

    November 3, 2011 05:05 pm at 5:05 pm |
  14. thomas

    I'm sure President Barack Obama will return the contribution !

    Did Rick Perry return contributions made to him by the former Enron corporation ?

    NO he didn't !

    November 3, 2011 05:13 pm at 5:13 pm |
  15. Sorensen

    Classic GOP behaviour. Stealing, lying, cheating with other peoples money.
    They have not reached the bottom yet, but they are surely working hard on it.

    November 3, 2011 05:19 pm at 5:19 pm |
  16. Justaminit

    O.K. George Bush should return all of the money given to him by banks and brokerage firms. Seriously, give it back. Probably not gonna happen is it wing nuts?

    November 3, 2011 05:26 pm at 5:26 pm |
  17. really???

    MISDIRECTION...the Republican Way! They have no ideas, no backbone to stand up for us and then try to throw stones in a vain attempt at taking our focus off of their inability to get something done. People in glass houses should not throw stones!

    November 3, 2011 05:29 pm at 5:29 pm |
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