mf-global

Jon Corzine's Spectacular Failure Just Got More Spectacular

John Cook · 11/01/11 11:43AM

There's no better argument against the privilege of wealth than Jon Corzine, the clownish former Goldman Sachs CEO who thought his facility for extracting money from a rigged financial game entitled him to run the state of New Jersey. After getting roundly rejected by voters after one term, he got a job from a friend running derivatives firm MF Global. Yesterday it went bankrupt. And today we learned that he's lost $700 million of his clients' money.