Tuesday, January 31, 2012

MF Global's Jon Corzine Raises $500K For Obama


Well, at least we know now where some of that $ 1.2 billion in investor funds that's 'missing' went!

According the Barack Obama's 2012 campaign website, Jon Corzine of Hoboken, New Jersey raised at least $500,000 for the president's reelection effort.

Corzine, of course, has most recently been in the news for being on the wrong side of a $6.3 billion bet as head of MF Global. "MF Global filed for bankruptcy on October 31, after $6.3 billion in risky bets on European sovereign debt spooked investors and an effort to sell the company failed," Reuters reported. "Investigators are searching for as much as $1.2 billion in missing customer money, which regulators said the company may have diverted for its own needs."

Later, Corzine admitted he could not account for the $1.2 billion.

Ah the sweet smell of The Chicago Way..if the president gets re-elected, any bets out there on how soon Jon Corzine gets a pardon if he ends up being convicted?

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