As noted in today's Quick Hits, Jon Corzine, the former Goldman Sachs CEO, the former Governor of New Jersey, and the CEO of MF Global failed in his efforts to obtain a bailout for MF Global over the weekend. MF Global filed for bankruptcy protection this morning. Jon Corzine is now going to receive a $12 million severance package from the company his mismanagement bankrupted. Nothing like rewarding failure.
Corzine, who was once touted as a candidate for Treasury Secretary under President Obama, pretty much did the same to the State of New Jersey as he did to MF Global. The progressive / liberal tax and spend policies contributed significantly to New Jersey's substantial fiscal challenges - which includes one of the highest tax burdens in the country. The only real winners of his fiscal mismanagement were the public sector unions of New Jersey.
Don't hold your breadth for #OccupyWallStreet to march on his home or complain about his actions.