Jon Corzine Update

I’m thinking this wasn’t quite the Federal Appointment he was looking for

The Federal Reserve Bank of New York has informed MF Global Inc. that it has been suspended from conducting new business with the New York Fed. This suspension will continue until MF Global establishes, to the satisfaction of the New York Fed, that MF Global is fully capable of discharging the responsibilities set out in the New York Fed’s policy, “Administration of Relationships with Primary Dealers,” or until the New York Fed decides to terminate MF Global’s status as a primary dealer.

UPDATE: Yep, he’s been as good for them as he was for New Jersey

The Wall Street Journal reported Monday that MF Global would seek Chapter 11 bankruptcy protection after investing $6 billion in sovereign bonds issued by European countries.

Jon Corzine, the former New Jersey governor who now leads MF Global, was working to find a buyer, according to several reports. The Journal said Interactive Brokers would bid $1 billion under a court-supervised auction.

…The New York Stock Exchange halted trading in MF Global shares before the market opened Monday.

Jon-Boy Corzine certainly has the resume now to be Treasury Secretary.

categories Biz, People, Politics | | datetime October 31, 2011 9:20 am

2 Responses to “Jon Corzine Update”

  1. Gary from Jersey says:
    October 31, 2011 at 11:13 am

    Where was the Fed before Goldman fired Corzine? That could have saved Jersey billions and stopped some of GS’s worse excesses.

    PS. Did you know that after he was fired, his limo drove him to Wall Street so he could make deals on the phone?

  2. JeffS says:
    October 31, 2011 at 12:45 pm

    Corzine failed again? Wotta surprise.

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