Friday, November 4, 2011

Jon Corzine Resigns from MF Global, Declines $12 M Severance

Apparently Corzine thinks that declining his golden parachute will somehow keep him out of the state penitentiary?
Jon Corzine's personal statement:
"I have voluntarily offered my resignation to the Board of Directors of MF Global. This was a difficult decision, but one that I believe is best for the firm and its stakeholders. I feel great sadness for what has transpired at MF Global and the impact it has had on the firm's clients, employees and many others. I intend to continue to assist the Company and its Board in their efforts to respond to regulatory inquiries and issues related to the disposition of the firm's assets."

Don't worry Jon, there's always a Presidential Pardon from your good buddy....