Jon Corzine Takes the Helm of MF Global

This is the Peter Principle at its best.

Under Jon Corzine, Goldman Sachs was transformed from an investment bank to a hedge fund. After 5 years as a US Senator from New Jersey, he became Governor and basically bankrupted the State. Now, MF Global, the troubled brokerage that was brought to its knees two years ago by a rogue trader has hired Corzine as its Chief Executive.

Here lies the proof that even 63 year-old WASPs can still be rewarded for their incompetence so long as they are tied to the right political party.

Jason Rodgers
Jason Rodgers: Jason Rodgers was an experienced research analyst for a major bank prior to retiring to run his own investment consultancy in beautiful Lihue, Hawaii. Jason contributed articles to BestCashCow from 2008 to 2014.

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