Can anyone comprehend (believe) that Jon Corzine takes over MF Global, institutes previously taboo trading in extremely high risk sovereign debt, is said to have personally directed the trades, even against advice of colleagues, and now doesn't know that the firm was insolvent and that $1.2 Billion of off-limits client funds are misused and now unaccounted for??? It doesn't pass the smell test and requires suspension of common sense to believe him.
Oh yes....remember he is the person highly praised by Obama and Biden as a "genius on the economy" and was on the short list (of one) to be Treasury Secretary. Now the question!
Was the fraud (yes, that's what it is) known when Geithner was planning to resign by year-end? Is this the reason old Timothy decided to stay "for the benefit of his country?" Just asking. Does anyone have an opinion?
Having played in the Wall Street arena a bit, I was interested when Corzine went into the US Senate. I knew he was a left-winger. So, I asked a friend, who is a retired partner of Goldman Sachs and a former associate of Corzine, just how left-wing he was. Friend said, "Oh, Jon is just an Illinois farm boy who wants to do good." I can only say he didn't prove my friend right either in the senate of as Governor of New Jersey. But, he has done "good" for the left wing while bankrupting New Jersey. And, now the huge firm, MF Global. Jon, you should show us the money.