Corzine Resigns as Securities Firm Chief

[maddezmom]

Source: NBC

Former New Jersey Gov. Jon Corzine has resigned as CEO at his embattled securities firm MF Global, the company's board announced Friday.

The board confirmed Corzine will not seek severance payments in connection with his resignation.


Read more: http://www.nbcnewyork.com/news/local/Corzine-Resign-MF-Global-Securities-Firm-Chief-133226473.html

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Corzine Hires Criminal Attorney
By PETER LATTMAN

Jon S. Corzine has hired Andrew J. Levander, a leading white-collar criminal defense lawyer, according to three people briefed on the matter, as the former New Jersey governor deals with fallout from the collapse of MF Global, the brokerage firm he has run since last year.

Federal authorities including the Federal Bureau of Investigation and the Securities and Exchange Commission are investigating the $630 million in missing customer funds at MF Global.

Mr. Levander could not be reached as he is out of the country, according to his assistant. He did not return an email seeking comment. Daniel O’Donnell, the chief executive of his law firm, Dechert, declined to comment.

In Mr. Levander, the chairman of Dechert, Mr. Corzine has retained a New York lawyer who is no stranger to defending prominent Wall Street executives. He represented John Thain, the former chief executive at Merrill Lynch, in a government inquiry related his role in Merrill’s sale to Bank of America. Ezra Merkin, a hedge fund manager who invested with Bernard L. Madoff, hired Mr. Levander to defend him against a New York attorney general’s lawsuit connected to the Madoff case.

more: http://dealbook.nytimes.com/2011/11/04/corzine-hires-criminal-attorney/

[No Elephants]

1. $630 million in investor money missing, but Corzine will seek no severance payments.

Hired a criminal lawyer, though.


Hmmmm?

[GodlessBiker]

2. Yep. Prosecutors may have told him quitting would be prudent. Sounds like...

Hiring a criminal defense attorney was smart.

[PoliticAverse]

3. So I guess Corzine won't be the next Treasury secretary whenever Geithner quits now... n/t

[disndat]

4. What did Gekko say?

"Greed is good." What if you spend 5 years in country club jail with 3 years off for good behavior. You have a $$zillion$$ in the bank to come back to.

[Hubert Flottz]

5. This man was a damned fool to give up his Senate seat!

He's gone down hill ever since he did that.

[Turbineguy]

6. Still good reading:

http://www.amazon.com/Where-Customers-Yachts-Street-Marketplace/dp/0471119784

http://ecx.images-amazon.com/images/I/51FQMQA6Y2L._BO2,204,203,200_PIsitb-sticker-arrow-click,TopRight,35,-76_AA300_SH20_OU01_.jpg

[DeSwiss]

7. And after he'd done so much for them.....

...well that's gratitude for ya. At least he'll have the memories.

- And the stock options. And the $12 million severance package. To bad none of that is worth the paper it's printed on......

K&R

[Kaleko]

8. Kick

[bobthedrummer]

9. MFer! k&r

RECALL SCOTT WALKER!