President Obama is desperately putting his Wall Street stock in an unlikely old buddy.
The beleaguered president has recruited former Goldman Sachs head honcho Jon Corzine to shore up re-election funds from the banking industry, which is furious over Obama’s financial regulations.
Corzine, the former governor of New Jersey who was blasted out of office by Republican Chris Christie in 2009, has attended secret meetings with the president and has been working on Obama’s 2012 campaign for months, The Post has learned.
The Democrat, who now leads Manhattan-based brokerage MF Global, has been tasked with scraping up the very little banking-industry support Obama can still get.
Former New Jersey governor and U.S. Sen. Jon Corzine, whom President Obama once hailed as an “honorable man” and one of his “best partners” in the White House, has been subpoenaed to testify before Congress about his role in the collapse of the investment firm MF Global.
Corzine was chairman and CEO of the company between March 2010 and Oct. 31, 2011, when it filed for bankruptcy. An estimated $1.2 billion has not been accounted for, leaving many investor accounts drained. The FBI and Justice Department are also investigating the case.
The unanimous, bipartisan vote today to require Corzine to appear before the House Agriculture Committee next week sets the stage for tough questioning of one of the president’s top re-election campaign fundraisers and a man who had, until recently, been considered a top pick for Treasury Secretary in a possible second Obama term.
Yet, this “honorable man”, Obama campaign money-handler, and potential Treasury overseer, picked by Obama, headed up MF Global for a meer 19 months and now can’t account for $1.2 billion of company funds.
From the Washington Post:
In testimony prepared for delivery to Congress on Thursday, Corzine says he was “stunned” to learn shortly before the firm sought bankruptcy protection at the end of October that MF Global could not account for the money.
“I simply do not know where the money is, or why the accounts have not been reconciled to date,” the former MF Global chief executive says, according to the testimony.
Corruption runs deep around Obama and within the Democratic party. I hope Corzine gets what is coming to him.
And Obama, should return all of the 2012 campaign funds received directly from Corzine and those bundled by Corzine.
Filed under: 2012 Presidential Election, Barack HUSSEIN Obama, Chicago corruption, Daily Headlines, Liberalism, Morality/Character, Obama corruption, Politics, Progressives Ain't Tagged: | "best partner", "honorable man", Barack Obama, Chris Christie, corruption, Democrat corruption, Democrat party, Goldman Sachs, incompetence, John Corzine, MF Global, Treasury Secretary