Major investment firm MF Global announced it is filing for bankruptcy creating some panic in the financial industry. Federal regulators, specifically the Commodity Futures Trading Commission (CFTC), have said they are taking appropriate action and investigating the situation. The First Street Research Group did its own investigation into the lobbying activity and political relationships of MF Global.
Since 2009, MF Global has spent $210,000 hiring Delta Strategy Group to lobby on their behalf. In the D.C. lobbying world this is by no means a large amount of money, especially when compared to the 100’s of millions that MF Global was worth pre-bankruptcy.
|Delta Strategy Group (Formerly Parsons Strategies)||2011||$ 60,000|
|Delta Strategy Group (Formerly Parsons Strategies)||2010||$ 70,000|
|Delta Strategy Group (Formerly Parsons Strategies)||2009||$ 80,000|
Revolving Door Connections
But upon closer look, the real value of the lobbying becomes evident. Since 2009 MF Global was paying Delta Strategy Group to do one thing and one thing only, “Monitor CFTC regulations “. This is something that Delta Strategy Group was uniquely positioned to do. Delta Strategy Group employs 4 registered lobbyists and all 4 have working ties to the CFTC and lobbied the CFTC on MF Global’s behalf.
Chair – Commodity Futures Trading Commission (2000 – 2004)
Chief of Staff – Commodity Futures Trading Commission (2001 – 2004)
Policy Adviser – Commodity Futures Trading Commission (1999 – 2001)
Legislative Director – Chip Pickering (1998 – 1998)
Agriculture Committee Liason to the CFTC
Professional Staff Member – Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies (2006 – 2008)
Professional Staff Member – Committee on Agriculture, Nutrition, and Forestry (2003 – 2005)
Served as a Law Clerk to the CFTC
Coalition Builder Screen Shot of Delta Strategy Groups Lobbying Ties to MF Global and the CFTC.