Posted on 11/14/2011 8:43:17 AM PST by Driftwood1
Jon Corzine has been the CEO of Goldman Sachs, a United States senator, and the governor of New Jersey, the position he held in 2009, when the Obama administration was preparing to take office. His mix of Wall-Street and public-sector executive experience is doubtless why the Obama transition team called on him for advice. As Joe Biden tells it, they'd gathered a few dozen economists in Chicago to talk over the financial crisis. Some were suggesting a bank holiday.
"I literally picked up the phone and called Jon Corzine and said Jon, what do you think we should do," Biden said. "The reason we called Jon is that we knew that he knew about the economy, about world markets, how we had to respond, unlike almost anyone we knew. It was because he had been in the pit -- because he had been in the furnace. And we trusted his judgment."
Now the October 2009 remarks could come back to haunt the Obama administration, given recent revelations about what happened after Corzine left office to run the brokerage firm MF Global, a position he resigned last week. "The resignation capped a disastrous week for Mr. Corzine, as he saw MF Global lose two-thirds of its market value, file for bankruptcy and face a handful of federal investigations into more than $600 million in missing customer money," DealBook reported.
(Excerpt) Read more at theatlantic.com ...
With Bernie Madoff as backup.
That explains a lot
We should start calling Obama’s disasterous tenure the Corzine Administration.
I guess my tagline was right after all........
Jon and DumBO seem to have another thing in common, they lost a half billion dollars of other peoples money.
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