loop gain, open loop gain of op amp in inverting configuration (feedback capacitor)
You don't want to put the capacitor there between the negative input and ground, because that node is a virtual ground.  In a perfect world, that capacitor would have no effect, because the negative input stays at the same level as ground.  In reality, there are likely to be stability issues.  The capacitor in that schematic represents the parasitic capacitance of the input.

By putting the capacitor in parallel with the feedback resistor, you're not trying to fight the operation of the op amp any more, but reducing its gain at higher frequencies using the feedback path.  Even at frequencies where the op amp doesn't respond significantly, it's still a high frequency bypass to a low impedance.  This gives greater control overall, including compensating for the parasitic capacitance.