States Department of the Treasury's borrowing committee. As the Goldman Sachs senior partner, he helped develop a private sector plan to rescue the hedge fund Long-Term Capital Management when the leveraged fund's collapse in the fall of 1998 threatened contagion across the U.S. financial system. According to U.S. News & World Report, Corzine did not get along with co-CEO Henry Paulson, who came from the other major area of the bank, investment banking. When Corzine participated in structuring the bailout, Paulson seized control of the firm. When Goldman Sachs went public after Corzine's departure, Corzine made $400 million. Corzine has participated in meetings of the Bilderberg Group, a network of leaders in the fields of politics, business and banking (1995–1997, 1999, 2003 and 2004). He is a former member of the group's steering committee. Corzine is a member of Kappa Beta Phi. U.S. Senate 2000 election After being forced from Goldman Sachs in January 1999, Corzine campaigned for a New Jersey Senate seat after Frank Lautenberg announced his retirement. Despite initially trailing behind his opponent in the Democratic primary by 30 percentage points, Corzine won the nomination by 16 points. He later attributed his successful primary run to pollster Bob Shrum who convinced him to run not as "a seasoned investment banker and job creator" but as a "liberal progressive". In the general election, Corzine won by just a three-point margin over his Republican opponent, four-term United States Congressman Bob Franks, in the November 2000 election. He was sworn into the Senate in January 2001. He spent more than $62 million of his own money on his campaign, the most expensive Senate campaign in U.S. historyover $33 million of this was spent on the primary election alone, where he defeated former Governor James Florio 58–42%. Franks had been a last-minute choice because New Jersey Governor Christine Todd Whitman had been expected to run for the Senate. The record $62 million amount surpassed Michael Huffington, who spent nearly $28 million in an unsuccessful 1994 Senate race. During the campaign, Corzine refused to release his income tax return records. He claimed an interest in doing so, but he cited a confidentiality agreement with Goldman Sachs. Skeptics argued that Corzine should have followed the example of his predecessor Robert Rubin, who converted his equity stake into debt upon leaving Goldman. Corzine campaigned for state government programs including universal health care, universal gun registration,