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Posts Tagged ‘First Corzine’

Corzine: Once a fat cat, now a gro$$ failure



The Issue: The latest report on Jon Corzine’s role in MF Global’s collapse and the missing $1.6 billion.

***

Charles Gasparino asks if Jon Corzine is “Clueless or a Crook?” (PostOpinion, June 6).

My guess is he’s both, as well as luckless. First Corzine gets a collateral call from Jamie Dimon when his investment in European banks takes a 30 percent haircut.

Then his hedge play on that investment doesn’t kick in because there’s no credit event declared — that would’ve paid off on that loss and saved him from stealing client funds.

The clueless one is Dimon. It looks like he picked up Corzine’s position just as the haircut went to 50 percent, and now he’s down over $2 billion.

Richard Rainey

Floral Park

***

Thanks to Gasparino for keeping this story from going away.

Corzine is President Obama’s top money bundler. He wanted to be the next secretary of the treasury and his company is missing $1.6 billion. Why can’t anyone figure out where to look for the money?

Vern Trotter

Manhattan

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While Sens. Chuck Schumer and Bob Menendez are calling in the CEOs of healthy banks to explain things, they’re quiet on the failings of MF Global and Corzine.

JP Morgan, with assets of $1.8 trillion, can afford to lose $2 billion on a bad trade. But Corzine’s firm used investor money and lost it.

Democratic politics as usual.

C. Honadel

Staten Island

Article source: http://www.nypost.com/p/news/opinion/letters/corzine_once_fat_cat_now_gro_failure_91WzHhz6IM60xDwYR6Ju1J?utm_medium=rss&utm_content=Letters

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Be the first to comment - What do you think?  Posted by admin - June 11, 2012 at 5:07 am

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