House Panel: Obama Bundler Corzine Ruined MF Global

Posted by on Nov 14, 2012 at 1:33 pm

Remember Jon Corzine, former New Jersey Governor and famed Obama bundler? Sure, you probably haven’t heard his name much since he became a budding Bernie Madoff and $1.6 billion disappeared under his watch. Of course he’d be a household name if her were a Republican.

So today, conveniently after the election, we find out indeed he’s basically a crook. Or incompetent. Or both.

Decisions made by the former head of bankrupt MF Global sealed the firm’s fate and led to the company’s collapse and missing customer funds, according to details released Wednesday from a report and investigation conducted by a House Financial Services Committee panel. According to the report, the firm’s CEO, Jon Corzine, a former co-chairman of Goldman Sachs  who later became a U.S. senator and governor of New Jersey, created an “authoritarian atmosphere.”

And yet he remains a free man. A full report is to be issued Thursday, but nothing will ever happen.

Via John E.

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