Corzine's Crony Capitalism

 The NY Post has a pretty good Op Ed piece on it today. Here's a sample:

 "By playing the fool in two high-profile hearings, Jon Corzine so far has been able to deftly sidestep lawmakers’ questions about the now-infamous implosion of MF Global, including the disappearance of a whopping $1.2 billion in customer money that should have been kept safe in brokerage accounts. But new questions are about to arise.

Specifically: How did Corzine manage to convince regulators that a relatively small brokerage like MF Global was ready for big-time status, both as a risk-taking hedge fund and (even more startling) as a primary dealer of US government debt — a status that only a very few firms are allowed?

The likely explanation involves Corzine’s long experience at the nexus of politics and finance — as CEO of Goldman Sachs, then US senator and New Jersey governor, and of course as a leading Obama fund-raiser. In other words, crony capitalism."


H/T: Real Clear Politics