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Tipsheet

Corzine: I Have No Clue Where the Money Went

Former Goldman Sachs CEO-turned-Democratic Governor of New Jersey-turned-recently resigned CEO of MF Global, Jon Corzine, testified in front of the House Agriculture Committee on Thursday about the sudden bankruptcy of MF Global in October. He was at the helm for barely a year, but while Corzine was CEO, the financial services company made some poor bets on European debt, and about $1.2 billion simply vanished. Poof. Contritely iterating his deep sorrow for the company, its investors and customers, he maintained that he simply doesn't know what happened to the money and that he "never intended" to do anything wrong. Isn't that sweet:

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So, Corzine, the CEO of the company at the time, testified that he has no idea where a billion dollars went, while around the block, Eric Holder, the head of Justice Department, testified that he has no idea how Fast & Furious got so out of hand. Winning examples of leadership, those two!

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