Free Republic

NEW YORK — Hundreds of millions of dollars of customer's money has gone missing from the brokerage firm run by former New Jersey governor Jon Corzine, sources told The New York Times. The New York-based company, MF Global, filed for bankruptcy Monday following bad bets on euro zone debt. The discovery of the missing millions stopped a last-minute deal to sell a major part of MF Global to another brokerage firm from going ahead, The New York Times reported. Corzine, 64, who once ran Goldman Sachs before becoming a U.S. senator and then governor of New Jersey, had been trying...

That is the refrain you hear over and over again when MF Global insiders try to explain why they went along with Jon Corzine’s risky trades — the same ones that caused a crisis of confidence at the firm and, ultimately, its bankruptcy on Monday. Mr. Corzine was at Goldman Sachs for nearly 25 years, rising to become its senior partner before being ousted in a boardroom coup in 1999. He was considered a bright, aggressive trader who had a history of making big bets that paid off. When he joined MF Global last year — after a decade in...

The big story of the day in finance is the bankruptcy of MF Global -- the futures trading house run by ex-Goldmanite Jon Corzine. Even before filing for bankruptcy, the firm was suspended from dealing with the New York Fed, and two exchanges banned the firm's traders from accessing their trading floors. A major contributor to the firm's downfall: Outsize risks taken by Corzine, as it bet heavily on European debt last year, something that obviously hasn't gone so well. So what happens when the firm goes bust, Corzine leaves, and lots of other people lose their jobs? DealBook reported...

Former New Jersey Gov. Jon Corzine, former technology executive Bernard Schwartz and banking executive James Staley were among 30 well-connected figures in the business and finance world who met with President Barack Obama at the White House in March for an unusual economic discussion organized by the Democratic National Committee. The White House released the names on Friday under a policy Obama instituted in 2009 to disclose nearly all White House guests approximately three months after they visit. The March 7 meeting in the Blue Room of the residence has drawn attention and criticism because most of the attendees were...

The new head of MF Global Holdings Ltd. outlined dramatic moves to cut staff and costs as the brokerage reported a $96.5 million net loss for its fiscal fourth quarter. Jon Corzine, the former New Jersey governor and Goldman Sachs chief who took over as chief executive officer in March, plans to realign the company, drop some new initiatives and cut 10% to 15% of its work force after reporting its fifth consecutive quarterly deficit. "Let me state the obvious," Mr. Corzine said on a conference call discussing the results. "These are not the kinds of results that MF Global...

Former New Jersey Governor Jon S. Corzine will take the helm of futures and options brokerage MF Global Holdings Ltd., returning to the private sector after nearly a decade in government. Effective immediately, the 63-year-old takes over from Bernard W. Dan, who has resigned as CEO for personal reasons but will remain through May 16 to help with the transition. Alison J. Carnwath is stepping down as chairman in August, after completing her three-year commitment to the company. A former chairman of Goldman Sachs Group Inc., Corzine served as state senator from 2001 to 2006 before becoming governor of New...

SOURCES: N.J. Gay Marriage Vote Planned for Thursday Matt Rooney | December 2, 2009 According to Save Jersey sources, N.J. Senate Democrats plan to hold a gay marriage vote next Thursday. Expect a session vote on Monday. The rationale? Gay marriage faces a steep uphill climb in the legislature, but Democrat leaders may feel the need to appease powerful liberal constituencies within their own party. Ahead of next Thursday's vote, Republican support is solidifying against a gay marriage provision. From the New Jersey Family Policy Council: New Jersey Family Policy Council Founder & President, Len Deo issued the following statement...

Fearing a potentially devastating Democratic loss, the highly controversial Association of Community Organizations for Reform Now (ACORN) group and its affiliated organizations are gearing up to tip the scales and re-elect embattled incumbent in the hard-fought New Jersey gubernatorial race, sources tell Newsmax. "Acorn is heavily involved in Gov. Jon Corzine's get-out-the-vote operation, but is maintaining a low profile at the insistence of the Corzine campaign," Matthew Vadum, senior editor of the conservative Capitol Research Center think tank, tells Newsmax. "If Corzine manages to win reelection, he doesn't want the victory tainted by his close association with Acorn." Wall Street...

I've been watching the numbers change at Intrade for the last few days. IIRC, Corzine was at 66 last Friday. Today he's at 45, which I guess translates to more likely to lose than win. Hoffman's numbers took a dive after the Dede endorsement of Owens, but are now back in the healthy range. Last price 66. Bob McDonnell has been in the high 90s throughout.

CAMDEN, N.J. — In a final campaign swing on behalf of the only governor seeking re-election this fall, President Barack Obama on Sunday pitched Democratic Gov. Jon Corzine's bid as a key component for the White House to make good on its political promises. "He's one of the best partners I have in the White House. We work together," Obama said. "We know our work is far from over."

WABC TV in New York carried a story about one of Jon Corzine's close aides ( I missed the name) being arrested. He was stopped for talking on cell phone and the police found 15 viles of drugs. Anyone know anything more. Of course this is being smothered. This is not even on WABC TV's web site hmmmmmmmmmm

New evidence that Corzine is in trouble, so he calls on, Barack Obama, Bill Clinton and Just for Men...

"Jon Corzine is the kindest, bravest, warmest, most wonderful human being I've ever known in my life." Okay, Jonathan Tamari didn't use those exact words when he wrote an incredibly fawning Philadelphia Inquirer article about Governor Jon Corzine of New Jersey who is running for re-election but the words he did use sure come close to that sentiment. See, Corzine's problems weren't really because he presided over a massive budget deficit.The real problem was his difficulty in proper communication...at least according to Tamari: In his formal introduction to Trenton, his inaugural speech, Corzine read from notes, barely looking up, absorbed...

Jon Corzine this afternoon released records from his charitable foundation, including details on more than $3 million donations made last year. Corzine spread his wealth around the state and beyond, including contributions to organizations connected to Newark power broker Steve Adubato and his son. The North Ward Center, founded by Adubato, received $15,000, on top of the more than $1 million Corzine has given the organization in the last 10 years. Caucus Educational Corp. run by Adubato's son, television personality Steve Adubato Jr. received $1,000. The foundation's finances returned to the headlines this week after The Star-Ledger reported that Corzine...

Anyone in his right mind would now have to rate next month’s gubernatorial election in New Jersey as a tossup. After all, virtually every poll shows the race within the margin of error, and some recent surveys show Gov. Jon Corzine (D) leading GOP challenger Chris Christie. Moreover, climbing out on a limb to give one of the candidates an advantage in a virtual dead heat isn’t the best way to guarantee that your percentage of “correct calls” remains high so that you can send out a press release after the elections to brag about how astute you are. But...

Earlier this year, Republican Chris Christie looked like a really safe bet to beat New Jersey’s incumbent governor, Democrat Jon Corzine. The polls in July showed Christie with a lead ranging from 7 to 15 percentage points. Of course, since then the former U.S. attorney has had millions of dollars’ worth of negative ads dumped on his head; one estimate calculates that Corzine is spending a million a week on television advertising. One result is unsurprising — Christie’s lead has dwindled to a mere 3 to 4 points in most polls — and another is somewhat surprising: Even with that...

The gubernatorial race in New Jersey has not changed fundamentally recently, no matter what you may read in poorly produced Associated Press stories distributed by the Democratic Governors Association, the Democratic National Committee or Gov. Jon Corzine's (D) campaign.

With polls showing a drop in Barack Obama's job rating and sinking support for the Democrats' health care plans, there is evidence of collateral damage where you might not expect to find it, in the standing of Democratic governors. Pennsylvania's Ed Rendell is suddenly getting negative job ratings in both the Quinnipiac and the Franklin and Marshall polls -- his lowest marks in seven years as governor. Ohio's Ted Strickland, who has spent most of his first term working amicably with Republican legislators, scores under 50 percent in the latest Quinnipiac poll and has only tenuous leads over two Republicans,...

The first response from Gov. Corzine’s camp to GOP gubernatorial nominee selection of Monmouth County Sheriff Kim Guadagno as a running mate is in. “While we applaud Christie for picking a woman, Republicans still have a top of the ticket that will not protect women’s rights in Trenton,” said Corzine’s new press secretary, Elisabeth Smith. “Whether it is refusing a woman’s right to choose, denying handgun legislation that would protect our children and keep our streets safe, or opposing paid family leave that allows mothers to take time off and attend to their newborns, this Conservative Right-Wing Republican ticket is...

From the perspective of Steve Lonegan supporters, New Jersey voters just offered a clear verdict that will doom their state to another miserable four years of Gov. Jon Corzine. They rejected a full-spectrum conservative for a lightweight political neophyte, a wannabe white knight with mud on his boots, who will be hoist with his own petard and painted as a laughable hypocrite. From the perspective of Chris Christie supporters, Republican voters offered a clear verdict: They rejected a fire-breathing ideologue who would repel independents as few other statewide candidates ever had before, and nominated a tough guy who has the...