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Letters December 22, 2011  RSS feed

Reader: How Can $1.2 Billion Vanish?

Dear Editor,

Jon Corzine’s defense of his actions at MF Global boggle the mind. Corzine is worth $500 million and has previously served as CEO of Goldman Sachs, as well as governor and U.S. senator from New Jersey. He managed budgets in the billions to trillions.

So it is odd that he misplaced $1.2 billion of MF Global assets. Even worse, President Obama had previously considered appointing Corzine as Secretary of the Treasury or another critical cabinet post. By coincidence, Corzine raised $500,000 for his presidential campaign.

Vice President Joe Biden called Corzine “the smartest guy I know in finance.” Perhaps I can interest either Obama or Biden in buying the Brooklyn Bridge.

Larry Penner

Great Neck

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