Good thing he was not a little person--using customer funds to pay the companys creditors is considered theft by those not so politically connected. Georgianna Parisi DAILY INTELLIGENCERMF DOOM June 25, 2013 9:39 a.m. Jon Corzine Is Probably Not Going to Jail By Kevin RooseFollow @kevinroose 25 Shares Share 20 Tweet 5 Share 0 Share 0 10 Email Print The risk manager who screwed up was about thiiiiis tall. Photo: Alex Wong/Getty Images It was always unlikely that Jon Corzine — the former Goldman Sachs chief, New Jersey governor, and beard-haver — would go to jail for the collapse of MF Global, the brokerage firm he ran into the ground in 2011. Stupidity isnt a crime, after all, and what MF Global did — made a bunch of risky repo-to-maturity trades that hinged on the European debt crisis resolution, then shuffled some customer funds into an account that was used to pay off creditors when things didnt go as planned — was undeniably dumb, but there was little evidence that it was criminal or that Corzine knew the full extent of what was going on under him. Now Corzine seems to have gotten a semi-official reprieve from facing the music in criminal court.
Posted on: Sat, 14 Jun 2014 18:12:01 +0000
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