Mr. Corzine's reward for being fired from Goldman Sachs was to run New Jersey. His reward for being fired from that job was to be given the keys to MF Global. MF Global was not a sinking ship that Mr. Corzine failed to rescue.
`It was a healthy company that Mr. Corzine rapidly and single-handedly destroyed.
`He placed large bets on European bonds, and he lost. Yet this is not as simple as a man being wrong.
`Mr. Corzine was not trading his own money. He was risking the firm's capital. He placed all of the eggs in one basket over the vociferous objections of his lieutenants. He knew best, in keeping with his typical behavior.
`The story does not end there. To hide the losses, customer funds were mixed with company money. This is called commingling, and it is illegal. Among all financial crimes, commingling may be at the top of the list. How bad is what Jon Corzine did?
`This is Bernie Madoff bad. This is Enron and Worldcom bad. This is Willie Sutton bad. He robbed banks because "that's where the money is." MF Global under Jon Corzine took customer funds and used them simply because they were there and they could. Fancy words like "conversion," "commingling," and "misappropriation" are fancy ways of saying that Jon Corzine's MF Global were stealing people's money. Stealing remains a crime......"
`Jon Corzine is above the law | Washington Times Communities"
