Obama Bundler Corzine Snagged $8.4 Million in Year Before MF Global Collapse

Posted by on May 21, 2012 at 9:35 pm
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According to Obama a central theme of his campaign will be to claim Mitt Romney has no idea how to create jobs and grow the economy. Funny coming from a guy who still has this thug Jon Corzine working as a bundler for him. Obviously Corzine is experienced at creating jobs based on his recent history, right?

Former MF Global Holdings Ltd. CEO Jon S. Corzine received more than $8 million in cash and stock options in the months leading up to the brokerage’s collapse, according to recently filed bankruptcy documents.

Corzine, a former New Jersey governor and co-chairman of Goldman Sachs Group Inc., received a bonus of $1.25 million in addition to his salary of about $1.8 million last year. He also was awarded $5.35 million in now-worthless stock options. Corzine resigned from MF Global last fall, just days after the brokerage’s collapse over its losing bets on European sovereign debt.

Other MF Global insiders, including Chief Operating Officer Bradley Abelow, also saw big pay days. Abelow, who is still working at the firm, was paid $2.7 million in cash, including a $1.25 million bonus, plus restricted stock valued at $1.5 million.Neither Corzine’s lawyer, Andrew Levander, nor Abelow’s lawyer, Gary Naftalis, could be reached for comment.He should be in a holding cell without bail. Then he could be reached for comment.

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10 Responses to “Obama Bundler Corzine Snagged $8.4 Million in Year Before MF Global Collapse”

  1. CR on 22/22/12 at 9:53 am

    In other news…

    The FBI is currently all over JPM because they lost $2-3 billioin of THEIR OWN MONEY in a derivatives trading scheme gone bad. They are still profitable, BTW. Meanwhile, Corzine lost $billions of CUSTOMER’S MONEY when MF went TU and he is still walking the street unmolested. Could it be that bundling for Teh Won is an impermeable insurance policy against being the object of law enforcement?

  2. Natalie on 22/22/12 at 10:03 am

    After Enron, the Congress created a law called Sarbanes-Oaxley. Affectionately called SOX, this law stipulated that the CEO of any company must sign off on the balance-sheet of said company. On this law alone Corzine should be in jail already. Corzine should have already done the Perp Walk on TV!!! What a disgrace!

  3. Rick Caird on 22/22/12 at 10:23 am

    The only way Corzine is still walking around free and keeping his wealth is via a crony justice system. Corzine is being protected by the political class and the administration.

  4. petert on 22/22/12 at 1:11 pm

    ONLY THE DEMOCRATS GET THEIR CRIME SWEPT AWAY REPUBLICANS GET JAIL TIME EVEN IF FOR NOT REMEMBERING SOMETHING THEY MAY HAVE SAID YEARS PREVIOUSLY I BLAME THE MEDIA FOR LETTING THE LEFT WING GET AWAY WITH IT

  5. psadie on 22/22/12 at 9:25 pm

    What is it going to take to put these thugs, thieves and crooks in prison? I am damn sick and tired of all the nonsense. They steal and they are not put in jail yet they walk away with a padded salary. The good citizens of this country are dumped on time and time again. Time to make Chris Christy the next Attorney General and let him go at them all like a junkyard dog. These people only deserve the best.

  6. Julie on 22/22/12 at 11:30 pm

    This so smacks of corruption ! The SEC has not said a peep , but Congressional testimony pointed to the fact , that investors money that was never supposed to be used was used . This guy belongs behind bars. I am beginning to think this is the most corrupt administration in US history. Obama puts Nixon to shame !

  7. Gary Allan on 23/23/12 at 7:59 am

    If the American voter does not know by now what Obama and his administration is all about, then it truly is too late.

  8. Blue Hen on 23/23/12 at 9:38 am

    Well, we now know why Obama and compnay are whining about Bain and private Equity. It’s at least partially to cover for this.

  9. Patrick Kerrigan on 24/24/12 at 7:44 pm

    Well, he was Wall Street insider, then a U.S. Senator and then governor of New Jersey. We can’t put him in jail, it would not look right for one of their own to go to jail.