Former NJ Gov. Resigns From Securities Firm After Disasterous Bets
- Posted on November 4, 2011 at 6:53am by
Jonathon M. Seidl
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WASHINGTON (AP) — Jon Corzine is stepping down from running the securities firm that collapsed after his disastrous bets on European debt.
The firm, MF Global, said Friday that Corzine has resigned as chairman and CEO. It says he will decline a severance package worth $12.1 million, including cash and benefits.
MF Global filed for bankruptcy protection on Monday after its bets on European debt spooked investors and trading partners.
The company is under investigation by regulators and the FBI because hundreds of millions disappeared from customer accounts as it slid toward bankruptcy.
Corzine ran Goldman Sachs and was governor of New Jersey before joining MF Global.
MF Global says lead director Edward Goldberg and president and Chief Operating Officer Bradley Abelow will continue in their current positions.
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Comments (38)
dmerwin
Posted on November 4, 2011 at 12:31pmI wonder what MF stands for? I know what I think when I hear about this kind of crap. Nice that he won’t take the golden parachute, he already bilked the taxpayer enough I guess.
Report Post »realindependent
Posted on November 4, 2011 at 1:58pmAnd that Ladies and Gentlemen is the difference between republicans and Democrats. Democrats see they did wrong and resign in shame and don’t take the money on the way out. Unlike Mark Sandford, Larry Craig, David Vitter, Scooter Libby, Dick cheney shooting someone. They blame the media or someone else for they’re failures. HIPOCRITES
Report Post »13th Imam
Posted on November 4, 2011 at 4:12pmMr Shakedown Corzine made Millions , Hiding his stolen Taxpayer Funded Obama Stash while selling the Taxpayers down the drain..Your myopic view of the DEMOCRAT /Socialist/Thief Party is funny as Mr Wall Street Bailout Corzine is a 1%er, but Dummycrats Never, Never, Never say anything about DEMOCRAT Thieves.
Report Post »dmerwin
Posted on November 4, 2011 at 6:16pm@realindependent
Report Post »Like Clinton and Rangel and that cat in the goofy outfit from Oregon?
dmerwin
Posted on November 4, 2011 at 6:18pm@realindependent
Report Post »I think you mean “hypocrites”
Bekrhed
Posted on November 4, 2011 at 7:59pm@dmerwin
Report Post »I think he mixed it up with the Hippocratic Oath.
roadhog
Posted on November 4, 2011 at 11:53amNo Seat Belt John runs for the hills. Obama will save his Ass.
Report Post »scoter
Posted on November 4, 2011 at 11:38amPut him and OBAMA in Jail !!!!!!!! You know Obama KNOW whaat was going on.
do we really want four more years of the Marxist in chief?
http://www.helpfireobama.com Please give $20.12
Report Post »Smoke Ranch
Posted on November 4, 2011 at 11:25amI just wonder where Mr. Corzine got the info for making such a stupid deal. Was the info from his buddies in the Senate or was it some of his buddies in the White House. He had to have some kind of insider info to make such a risky deal with so much money. Were there bail outs in the works? Just what? And just how much of his own money did he lose? Or did he risk any of that. And his severance package? Are you kidding. Getting paid to leave, what a joke. Maybe this company and those who invested in this company deserved to lose money. This just stinks. And think, he could be doing this to the state of New Jersey if he had gotten reelected. You out in the “Garden State” should be so lucky to have Chris Christy as Governor that this loser.
Report Post »Fina Biscotti
Posted on November 4, 2011 at 2:06pmbuddies in the white house – as a means of redistribution of the wealth – (stealing other people’s money) – by making risky deals – that were intended to bankrupt the company.
Corzine should be indicted – right along with Obama.
Report Post »psadie
Posted on November 4, 2011 at 11:18amCorzine was always a sleaze when I lived in NJ. So when is he going to prison?
Report Post »capecodsully
Posted on November 4, 2011 at 10:31amObama is always looking for financial geniuses to work for him wasting the American people’s hard earned money. Yep that’s the commie in chief on the phone now.
Report Post »JRook
Posted on November 4, 2011 at 10:49amRegardless of the slide of the isle we have the best politicians money can buy. Another great symbol of why the OWS group is on the right track.
Report Post »enderwiggen
Posted on November 4, 2011 at 10:17amWould you have to be an idiot to hire a politician to invest your money or what? After all that he did for New Jersey it’s hard to feel sorry for people stupid enough to entrust their money to him. Perhaps a method of isolating them and removing them from the gene pool would be helpful.
Report Post »meeester
Posted on November 4, 2011 at 10:17amI suspect that resigning covers his butt more than it serves as a shameful exit. Now that he isn‘t an employee he probably can’t be approached as directly.
Report Post »markgl
Posted on November 4, 2011 at 10:14amNew Jersey, what were you thinking putting that guy in a governor???
Report Post »EqualJustice
Posted on November 4, 2011 at 9:52amOver 600 MILLION dollars is still MISSING. He doesn’t NEED a severance package..
Report Post »barber2
Posted on November 4, 2011 at 9:49amWait a minute. Didn’t the “transparent” Obama crew, in their War on Capitalism, institute tough new GOVERNMENT regulations to control there corporate evil doers ? Why didn’t those tough new GOVERNMENTAL regulations catch this guy before this latest disaster? What ? Corzine was a gib Obama campaign donor ? What ? And a Democrat politician ? Oh. Now I get it. Just more of that Obama phony- crony stuff like Solyndra ! ( these sleazy Democrats only fool the young, naive fools whose heads have already been mushed by lax parents, Lefty teachers , too many tweets, and too many drugs)
Report Post »MUDFLAPS
Posted on November 4, 2011 at 9:41amThis guy has raped the country and his state for decades I think. He is a thief.
Report Post »techengineer11
Posted on November 4, 2011 at 9:51amIs the former GS CEO, NJ Gov, MF CEO, and NBC love child Jewish?
Report Post »PAWatcher
Posted on November 4, 2011 at 9:35amCrony capitalism……….all the corruption leads right back to the WH, time for arrests not resignations.
Report Post »dantom
Posted on November 4, 2011 at 9:22amI am outta here got the cash gone look whos laughlin now.
Report Post »the point
Posted on November 4, 2011 at 9:21amHe should still be tried in court for corruption…but he won’t be .
Report Post »South Philly Boy
Posted on November 4, 2011 at 9:11amTypical LIBERAL DemonCrat = FRAUD
Report Post »weneedrubio
Posted on November 4, 2011 at 9:11amThe king of wall street greed and he’s a Democrat, who planted him. This has to be another right wing conspiracy there is no way a lib would abuse his clients. Bail him out (no pun intended) so he can pay back the money he stole. After all he runs a “green” company(no pun intended)
Report Post »onegodinkansas
Posted on November 4, 2011 at 8:55amDoes the Blaze have a spell-checker for its headlines?
Report Post »Gonzo
Posted on November 4, 2011 at 8:38am“he will decline a severance package worth $12.1 million” That’s chump change to Corzine anyway.
Report Post »fuzzy20841
Posted on November 4, 2011 at 8:35amI read that the 12 million compensation package was cancelled due to the bankruptcy filing. This happened prior to the Corizine announcement that he would forgo it. I wonder if he will be prosecuted ala Madoff? What a tool!
Report Post »Tired-of-fools
Posted on November 4, 2011 at 8:34amI thought the Republicans were the ones in bed with wall street. Bonnie Fwank has been in bed literally with executives from Wall Street. Someone ought to inform the OWS idiots what is really going on, if they care to listen. I wonder if MSDNC will cover the story. Probably not.
Report Post »Rillobymorning
Posted on November 4, 2011 at 9:59amThey already have all their ‘talking points’ memorized, just like many that post here. They get something stuck in their head and it’s like a hamster on a wheel…just goes round and round with no way out. I doubt anyone would convince them of the truth.
Report Post »packsack54
Posted on November 4, 2011 at 8:28amThe severance plan is prision. Just another of those LCT’s.
Report Post »AJAYW
Posted on November 4, 2011 at 8:18amShould be going to jail
Report Post »lukerw
Posted on November 4, 2011 at 8:15amAnother Liberal disaster maker… protected by a Golden Parashute!
Report Post »SpankDaMonkey
Posted on November 4, 2011 at 8:09am.
Report Post »Corzine says he will decline a severance package worth $12.1 million, including cash and benefits. Stating “Why take $12.1 million? When I’ve screwed them for Billions!”:)……………..