Let’s play “Clue” – Was it Mr. Corzine in the Board Room with the “Smoking Gun” E-mail?
By mw | Related entries in Bad Decisions, Banks, Congress, Corporate Business, DemocratsLooking back at Jon Corzine’s statements to Congressional committees investigating MF Global’s failure, it is clear that he knew that e-mail was out there. He used the committee hearing to lay the groundwork for a “he said / she said” defense vis-a-vis MF Global treasurer Edith O’Brien. Perhaps O’Brien simply misunderstood JC’s intent. “You gotta fix it” could easily be misinterpreted to mean something like “Raid the client accounts if you have to, but get me the time to sell this piece of crap before the street figures out we’re insolvent.” That kind of misunderstanding happens all the time.