Corzine the magnificent!

Cancel 2016.2

Cancel 2016.2

The Almighty
http://www.bloomberg.com/news/2011-...g-from-mf-global-after-bankruptcy-filing.html

Corzine, the former co-CEO of Goldman Sachs Group Inc. (GS), quit all of his posts, New York-based MF Global said today in an e-mailed statement. Corzine, 64, won’t seek severance pay, the company said.
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Now that is really big of him. Drives the company into Chapter 11 and he doesn't make them pay him severance? Great guy.

“I have voluntarily offered my resignation to the Board of Directors of MF Global,” Corzine said in a separate statement. “This was a difficult decision, but one that I believe is best for the firm and its stakeholders.”
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Translation "I quit just before they could fire my incompetent ass. Apparently the fact that I damn near destroyed Goldman wasn't enough to scare them off from hiring me. Nor was my attempt to destroy the state of New Jersey. But they gave me a chance and I proved that my destructive powers were not gone. Put them in bankruptcy in just two years!. So now I quit and hope that I don't end up in jail. Really, I don't know why we are short almost $600mm..... oh, but again, no need to pay me severance... I have raped this company enough."

As of Oct. 25, MF Global owned $6.3 billion of Italian, Spanish, Belgian, Portuguese and Irish debt, the company said at the time in a presentation. Concerns that it might lose money on the holdings amid Europe’s debt crisis led to credit downgrades, margin calls and demands from regulators to boost capital before the bankruptcy filing.
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Seriously... GENIUS move. I mean who could have forseen problems with ANY of those countries debt?
 
"Now that is really big of him. Drives the company into Chapter 11 and he doesn't make them pay him severance? Great guy."

On Wall Street, this does make him a great guy. So many of them have done the same, driven companies into the ground, and then taken severance anyway. It's all relative. It's easy to be a good guy in Hell Incorporated.

I was surprised about this though. I wouldn't have thought Corzine was this corrupt. Also, he's kinda cute.
 
Darla said:
"Now that is really big of him. Drives the company into Chapter 11 and he doesn't make them pay him severance? Great guy."

On Wall Street, this does make him a great guy. So many of them have done the same, driven companies into the ground, and then taken severance anyway. It's all relative. It's easy to be a good guy in Hell Incorporated.

I was surprised about this though. I wouldn't have thought Corzine was this corrupt. Also, he's kinda cute.
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Never thought of him that way. Corzine & Krugman...must be a beard thing...
 
Darla said:
"Now that is really big of him. Drives the company into Chapter 11 and he doesn't make them pay him severance? Great guy."

On Wall Street, this does make him a great guy. So many of them have done the same, driven companies into the ground, and then taken severance anyway. It's all relative. It's easy to be a good guy in Hell Incorporated.

I was surprised about this though. I wouldn't have thought Corzine was this corrupt. Also, he's kinda cute.
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point taken, that is quite true. That said, this guy nearly took down Goldman and New Jersey and now he has finally been allowed to complete the trifecta. I really want to start seeing some of these ass clowns go to jail. there is a thing called the prudent investor rule. I know the definition is skewed for a hedge fund due to the nature of its investments, but even within hedge funds there has to be a limit on tolerance for these idiots.
 
Damocles said:
No I can't.

:bleh:
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Oh there's that emoticon. Why is it Damo, that when I click on the smiley face icon and the menu opens, I can only see the top three lines? There are all those huge faces on the third line and mine doesn't go down any more? Do you know? I lost so many of my favorite emoticons.
 
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