Friday, June 28, 2013

Crucifying Corzine

Can't say I've ever been much of a Corzine fan.

From where I'm sitting it looks like he pretty much hit the first elevator to the top. Corzine spent his entire private sector career in the world of the Rumpelstiltskin economy.

But he didn't invent that economy. I'm sure the MF Global melt-down was a complete shock to him. Here was a guy who had made his way through the ranks in an environment wherein nothing was real and profits were made on obtuse derivatives ten removes from the real world.

That disappearing billion and a half of client money that vanished at MF Global was just another miracle in the Rumpelstiltskin economy.

Easy come, easy go...

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