He was an ineffective U.S. senator who went on to become a do-little governor of New Jersey. After a richly deserved defeat in his re-election campaign, Jon Corzine returned to the private sector and managed to preside over the collapse of the now-notorious brokerage firm MF Global.
Now comes word that the feds are preparing to sue Mr. Corzine for his alleged failure to prevent the loss of some $1 billion in customers’ money as MF Global employees desperately sought to prop up the firm’s accounts in 2011.
Indications are that the Commodity Futures Trading Commission plans to take its case to court without giving Mr. Corzine a chance to settle the case in advance. That’s a sign that the feds consider the collapse of MF Global a particularly egregious example of incompetence and hubris.
It has been a jarring turn of events for a man who once had the ear of top leaders in politics and business. But Mr. Corzine’s record over the last dozen years shows that MF Global is only the latest in a string of disasters for which he is responsible.
After purchasing a Senate seat in 2000 and the governor’s office in 2005, Mr. Corzine did little of note, with the exception of appointing Robert Menendez to the U.S. Senate. That transaction was as dubious as any that may have taken place during MF Global’s dying days, and just this week, the Post added yet another log to the bonfire of Menendez creepiness.
Mr. Corzine may or may not bear responsibility for the actions of his employees. That will be for a court to decide. But there can be little doubt about his anti-Midas touch. He’s managed to foul up most of what he touched over the last dozen years.
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