Corzine Risks and Plays with Other People's Money

Jon Corzine loves to take risks with money, his and other people’s.

As the Chairman of Goldman-Sachs, Corzine pushed for huge risks for huger takings. After suffering trading losses, Goldman Sachs told Corzine to get lost.

Corzine then spent millions of his own money to get elected Senator, then Governor of New Jersey.

While in Trenton, he spent other people’s money  -- taxpayer dollars -- promoting lavish projects, stimulus spending, and generous pensions to public sector employees, the same constituency that would presumably get him re-elected. He even raised taxes 110 times to keep playing.

Corzine spent even more money on his re-election campaign,  but lost by four points to US Attorney Chris Christie. Another risk that did not play out.

Following his bad play with his and other people’s money in New Jersey, Corzine took over as CEO of MF Global, where he played with and lost billions of private investors’ money, leading to the eighth largest bankruptcy in United States History.

Despite a deplorable reputation of playing poorly with other people’s money, former New Jersey Senator, Governor, and Goldman-Sachs CEO Jon Corzine will not be prosecuted for mismanaging then losing billions of dollars in private investment for the last firm that he led.

Now he wants to start his own hedge fund.

I am hedging my bets, but I sure wish that the former federal prosecutor and current New Jersey governor Christ Christie would take Corzine to court. That’s a risk worth taking to stop Corzine from playing.