Jon Corzine: as he walks down the street, houses fall down behind him

Finance writer Charles Gasparino tells the saga of ex-U.S. senator, ex-New Jersey governor Jon Corzine. After his initial success in becoming extremely wealthy as a bond trader at Goldman Sachs, Corzine has gone from one failure to another in executive positions, being fired as chief executive officer of Goldman Sachs after almost wrecking that company, then being fired from his position as chief executive officer of New Jersey in November 2009 after leading that state into financial crisis. He then returned to Wall Street as chief executive officer of MF Global, where, writes Gasparino, he “oversaw one of the worst bets in modern financial history, buying into the teeth of the European financial crisis debt of Italy and Spain, two of the countries considered most likely to default after Greece.”

The result? MF Global filed for bankruptcy yesterday.

The Wall Street gazillionaire and Democratic politician
with the blank, bearded face of a Soviet Marxist

Posted by Lawrence Auster at November 01, 2011 07:46 PM | Send