Jon Corzine Resigns From MF Global Holdings

The former New Jersey governor andhttp://data.cnbc.com/quotes/GS chief confirmed he will not seek severance pay in connection with his resignation from the bank, which filed for bankruptcy protection on Monday.

In the press release, Corzine said: “I have voluntarily offered my resignation to the board of directors of MF Global. This was a difficult decision, but one that I believe is best for the firm and its stakeholders.


http://www.cnbc.com/id/45147239

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Yeah, because with some $600 Million missing, he's already got his.....heh, heh.....


On another interesting front to all of this...

The bankrupt financial company MF Global, now under federal investigation for possibly misusing clients’ money, is one of the top sources of contributions for President Obama’s reelection, complicating the campaign’s effort to turn public anger at Wall Street into a political advantage.


Employees of the company have given $108,650 to Obama’s campaign and the Democratic National Committee, according to federal records. MF Global’s chairman and chief executive, former New Jersey governor Jon Corzine, has raised at least $500,000 for the campaign and the DNC as a “bundler,” or volunteer fundraiser.

MF Global ties awkward for Obama campaign - The Washington Post

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And what does the Obama crime inc say? 'Nah, we are keeping the money.'


I tell ya, If this were a repub, I can just hear it now......


j-mac

The thing is, republicans have the same sort of issues. In other words, I read this and see only business as usual, and it will continue as usual, despite the haphazard effort of the OWS protesters.


I think it's time we up the anti.

KevinKohler said:

The thing is, republicans have the same sort of issues. In other words, I read this and see only business as usual, and it will continue as usual, despite the haphazard effort of the OWS protesters.


I think it's time we up the anti.

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What do you have in mind?

j-mac

j-mac said:

What do you have in mind?

j-mac

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Nothing legal, really.

I mean, honestly, I just don't see why people aren't so angry about so many of these scandals, that we don't arrange our own lynch mobs, hangs some of these people right in front of the white house, all on video, posted on youtube, just to let people know what befalls criminals of a certain order.

I mean, we can send a pot smoker to prison, HARD time, depending on how much was found on him, but we can't seem to do ANYTHING about these people? Look at Goldman Sachs, and they way they seem to manage to slime their own people into senior positions in just about every branch of government, and into every office...look at the way we FAILED to do ANYTHING about the crimes committed by elected officials leading up, during, and after this recession? But no, the drums beats go on, the band keeps playing, and in a few weeks, no one will remember any of it.


Sometimes I get sick to my stomach that I share anything in common with the common men and women of this country.

It's good to know Corzine made a few hundred million at Goldman before he entered politics. Hopefully the people he screwed by running MF into the dirt can win judgements that make Corzine personally liable for his colossal incompetence. I am waiting to read Corzine has become the investment czar for BO.

conservativeguy said:

It's good to know Corzine made a few hundred million at Goldman before he entered politics. Hopefully the people he screwed by running MF into the dirt can win judgements that make Corzine personally liable for his colossal incompetence. I am waiting to read Corzine has become the investment czar for BO.

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And what will we do? Nothing. What CAN we do? What are our options? Vote someone else into the white house? That person will likely ALSO have a staff of people, of whom, some worked at Goldman Sachs. Or other mega corporations. And if not, no matter, lobbyists will fill that void, should it happen.

Seriously. How much of this is it gonna take? Are these people now just kinda seeing how much they can get away with? What would make someone so brazen?

But ... but ... he had so much business experience!! :lol:

j-mac said:

Yeah, because with some $600 Million missing, he's already got his.....heh, heh.....


On another interesting front to all of this...




And what does the Obama crime inc say? 'Nah, we are keeping the money.'


I tell ya, If this were a repub, I can just hear it now......


j-mac

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The voters of New Jersey threw him out before he could bankrupt the state, so what's a guy to do?

And what kind of name is MF for a bank, anyway?

It appears Corzine studied the recent financial crisis very carefully so that he could repeat all the mistakes the big banks made. The story is that he leveraged the bank's funds at 40 to 1 to bet on the recovery of European sovereign debt, and when the falling values of these bonds prompted collateral calls, he used private investors' funds to try to cover these calls, but they were insufficient.

Now he's betting on Obama. Hmmmmm

Basically he's Bernie Madoff with better friends.

KevinKohler said:

And what will we do? Nothing. What CAN we do? What are our options? Vote someone else into the white house? That person will likely ALSO have a staff of people, of whom, some worked at Goldman Sachs. Or other mega corporations. And if not, no matter, lobbyists will fill that void, should it happen.

Seriously. How much of this is it gonna take? Are these people now just kinda seeing how much they can get away with? What would make someone so brazen?

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He will probably get a seat on the Fed Board if they can prove he also cheated on his taxes.

toomuchtime_ said:

The voters of New Jersey threw him out before he could bankrupt the state, so what's a guy to do?

And what kind of name is MF for a bank, anyway?

It appears Corzine studied the recent financial crisis very carefully so that he could repeat all the mistakes the big banks made. The story is that he leveraged the bank's funds at 40 to 1 to bet on the recovery of European sovereign debt, and when the falling values of these bonds prompted collateral calls, he used private investors' funds to try to cover these calls, but they were insufficient.

Now he's betting on Obama. Hmmmmm

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yeah, you got it pretty close....So, would you say that Obama should give the money back?

j-mac