In the 2+ weeks since MF Global filed for bankruptcy protection, much has been written about Jon Corzine’s penchant for making wild bets, which worked out fine while he was at Goldman Sachs, where risk managers are empowered to stand up to employees putting the firm/bonus pool at risk, but not so much at MF-G, where he was a man on a mission. If JSC could turn back time…he’d still be JSC and he still would’ve had that little voice, down his plums, telling him to risk it all on Eurozone debt, which in turn would’ve caused various people to freak out, start a run on the bank and drive it into its current state of affairs. Separately though? This business with the customer funds that were desegregated from the firm’s own money and which are currently “missing,” despite several manhunts and “magical mystery tours” to find it? It didn’t have to be that way and maybe it wouldn’t have been if someone had been forced to dust off his series 24 books and review the section on “customer accounts,” before cramming into a test center and sitting for the exam alongside all the other scrubs, sweating through his sweater vest over getting at least 70% correct. Read more »
- Jefferies Exec Sage Kelly Taking A Timeout From Investment Banking
- Hedge Fund Manager Keeps A Detailed Record Of All The Asses He's Grabbed
- Jefferies Exec Sage Kelly (Allegedly!) Employs Unorthodox Approach For Landing Clients (Update)
- Money Manager Holding Credit Suisse's Funds Hostage Elevates The Whole "I'm 5 Minutes Away!" Text When You Haven't Yet Left Your Apartment To A New Level
- Banker Who Faked His Own Death Fielding Hedge Fund Jobs Offers Left And Right, Says Banker Who Faked His Own Death
- Jefferies Exec Details All The Places He's Never Mistaken For A Toilet
- Guy Whose Quitting Pimco Totally Had Nothing To Do With Bill Gross Treating Him Like Crap Now Back At Pimco
- Jefferies Exec (Allegedly!) Held An Offsite "Mushrooms Day"
- Opening Bell: 10.30.14
- Things Could Be Worse But They Could Also Be Better At Jefferies Right Now
- Executive Editor
- Bess Levin
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