Jon Corzine Knew This Day Would Come

He showed you...he showed all of you!
Author:
Publish date:
Updated on

On the morning of November 4, 2011, Jon Stevens Corzine made the tough decision to resign from MF Global, the collapsing brokerage firm he'd run since March 2010 and had hoped to turn into the next Goldman Sachs. At the time, the broad consensus was that it would be difficult to impossible for the former Goldman Sachs CEO/US Senator/Governor of New Jersey to get a job doing anything, let alone things that involved touching other people's money. Those who closely followed Corzine's professional trajectory, however, knew better. From running for Senate after being pushed out of Goldman Sachs by Hank Paulson & Co to taking on the MF Global CEO gig following his failure to get reelected as Governor versus a man named Christopher Christie, Corzine is a guy who lives and breathes the motto "Each Time A Door Closes, A Bigger, More F*cking Awesome One Opens." If he hasn't had it tattooed across his lower back yet, it's only because he's still settling on a font.

And while it might've taken a little longer this last time around, owing partially to the anger re: the $1.6 billion in customer funds that was momentarily lost (and found!) and partially to the fact that someone got used to being home when Dr. Phil aired and looked forward to a nice little routine of: wake up, Cocoa Puffs, dick around on internet, mid-morning nap, Dr. Phil, lunch, it all came together as planned.

Jon S. Corzine, the embattled former MF Global Holdings Ltd. chief executive and ex-chairman of Goldman Sachs Group Inc., has discussed plans to start his own hedge fund in recent months, according to people familiar with the matter. The fund would start with cash from Mr. Corzine’s personal wealth and a handful of outside investors. Mr. Corzine said he had been speaking with about a half-dozen potential investors, and projected around $150 million in assets under management, one of the people said.

Sure, his lawyer is offering statements like "Jon Corzine is not managing anybody’s money and has not asked a single investor to put money into a fund," but that's just because, according to the Journal, "Mr. Corzine most likely wouldn’t be able to launch a fund until legal proceedings against him over MF Global have been resolved" and "The Commodity Futures Trading Commission in June 2013 filed civil charges against him and is still collecting evidence for a possible trial." But just because JSC isn't out there hustling for funds...

“He is gratified that others might want to invest with him.”

Maybe Big J isn't actively pursuing investors as of yet, but let's just say if you want to talk about those charts that mysteriously showed up in your mailbox showing ROI on MF's sovereign debt bets, a certain someone might pick up the phone.

Jon Corzine Considers Launching Hedge Fund [WSJ]

Earlier: Jon Corzine Will Have You Know That Each Time A Door Closes, A Bigger, More Fucking Awesome One Opens; Jon Corzine Isn’t Finished Here

Related