…since the last one turned out so well
Five years after MF Global’s collapse after big, levered bets on European bonds blew up leaving a $1.6 billion shortfall in customer funds, WSJ reports former New Jersey Gov. and Goldman Sachs CEO Jon Corzine is nearing a deal to pay $5 million to end a U.S. regulator’s lawsuit.
Ending what The Wall Street Journal calls a long and messy chapter in a four-decade career which touched the pinnacles of Wall Street and politics…
Mr. Corzine reached the tentative settlement with the Commodity Futures Trading Commission in June, submitting to a ban from trading client money in commodities and others assets regulated by the commission, the people said. A final deal has been on hold as the commission negotiates a resolution to its case against another former executive at MF Global, the people said. The terms may still shift ahead of a final deal, several people said.
And the Dems are all set to select another Goldman alum for our next Gov.