Geithner out, Corzine in?

posted at 2:45 pm on August 3, 2011 by Ed Morrissey

After the resolution of the debt-ceiling impasse, rumors have been flying that the last senior member of Barack Obama’s original economic team will call it quits.  Treasury Secretary Tim Geithner refused to answer questions about his plans yesterday on ABC’s Good Morning America, which doesn’t exactly sound like a man planning on staying in the job much longer:

Speculation is rife in Washington that Geithner, who has outlasted all of President Obama’s other original economic advisors, will resign now that the nation’s borrowing capacity has been extended to 2013 and a 10-year, $2.1 trillion deficit-reduction agreement enacted.

Geithner’s consideration of a return to New York, where he formerly headed the Federal Reserve Bank of New York, was first reported by Bloomberg News in late June. As recently as Tuesday, he told ABC’s Good Morning America that “I haven’t made that decision yet.”

Who has the inside track to replace Geithner?  USA Today says it might be an ultimate insider:

One name being floated is that of Jon Corzine, the former New Jersey governor and senator and Goldman Sachs CEO, who now heads up MF Global. As a former member of the Senate, Corzine probably would enjoy a swift confirmation process.

Well … maybe.  Corzine didn’t exactly build an impressive track record while serving less than a full term in the Senate.  Corzine ran for and won the gubernatorial election in New Jersey in the fifth year of that single term, leaving after just one notable accomplishment: co-authoring the Sarbanes-Oxley Act in the aftermath of the Enron debacle.  Corzine also ran the DSCC for two years, which probably would leave at least a few scores to settle among some Republicans currently serving.

More to the point, though, Corzine’s association with Goldman Sachs will be a political headache for Obama at a moment when his base is already in rebellion over the debt-ceiling deal.  That connection would increase Obama’s credibility on Wall Street, but that’s the problem on the Left, too, and not just on the Left.  There is plenty of suspicion across the political spectrum over the influence of Goldman Sachs on American economic policy over the last 15-20 years — and their favored treatment from Washington that hardly seems coincidental.  Just two weeks ago, Reuters reported on a conflict of interest arising between Geithner, Goldman Sachs, AIG, and bailout money:

Treasury Secretary Timothy Geithner, while head of the New York Federal Reserve Bank, granted a waiver that allowed his eventual successor William Dudley to hold on to investments in firms getting emergency help.

Dudley, a former partner at Goldman Sachs who at the time ran the New York Fed’s powerful markets desk, was allowed to maintain his financial stake in insurance giant AIG, whose government bailout helped prop up investment firms like Goldman Sachs.

Expecting an easy ride for Corzine is an expression of irrational optimism.  Given how the last Obama-Corzine partnership performed — Obama campaigned for Corzine, who got thumped by Chris Christie almost two years ago — expecting him to get the appointment at all might also tend towards the long shot.

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Corzine? Nope.

Next!

Ward Cleaver on August 3, 2011 at 2:47 PM

It’s not for nothing that Corzine bears a striking resemblance to Boss Tweed. And what about the payments to his union moll “girlfriend” around negotiating time?

He’s a bad lot

clnurnberg on August 3, 2011 at 2:48 PM

Holy Crap Sandwich!

MeatHeadinCA on August 3, 2011 at 2:48 PM

Wow, another Goldman Sachs hack.

tetriskid on August 3, 2011 at 2:48 PM

I wish now more than ever, even with some fleas, that Christi runs.

That w/b sweet, sweet justice for the land.

Schadenfreude on August 3, 2011 at 2:50 PM

Gosh, he did such a great job for NJ’s finances. Yeah, let’s give him the keys to the freakin’ Treasury.

Mr. Bingley on August 3, 2011 at 2:51 PM

Goldman to finance Obama more than ever, Soros from the shadows.

Lefties, you are not just hypocrits, you are the biggest fools because you have no idea how fooled you are by yer Obama.

Schadenfreude on August 3, 2011 at 2:51 PM

Sure. A former Goldman Sachs CEO, coauthor of Sarbanes-Oxley, and lousy governor of New Jersey? He’ll probably be confirmed without too much trouble, but he’ll do just as bad a job as Tax Cheat Geithner.

Doughboy on August 3, 2011 at 2:51 PM

Can’t wait for Christi’s video on this.

Schadenfreude on August 3, 2011 at 2:52 PM

Obama need’s the wisdom of Teh Krugman at Treasury. Krugman will get Obama to fight for a $1.5T “stimulus”.

WashJeff on August 3, 2011 at 2:53 PM

The Ultimate Limousine Liberal.

portlandon on August 3, 2011 at 2:54 PM

well Jon, we failed to get you a big govmint job in NJ, how about we get you one here after Timmy takes a powder? cool?!/POTUS

ted c on August 3, 2011 at 2:55 PM

Corzine never met a taxpayer dollar he didn’t like–to spend.

njcommuter on August 3, 2011 at 2:55 PM

Immelt and Corzine – is there any doubt that Obama is beholden in his destruction of the middle class.

Immelt sends x-ray jobs to China, in direct conflict of interest btw. his CEO/advisor positions.

Corzine – stupid, stupid lefties – Obama ripps you off and plays you like marionettes and you don’t even know it.

Media, implode professinally and explode otherwise.

Schadenfreude on August 3, 2011 at 2:55 PM

Why not? Look what he did for New Jersey.

rocinaterider on August 3, 2011 at 2:56 PM

Fasten your Seatbelts!
No, Not you Mr. Corzine

400lb Gorilla on August 3, 2011 at 2:56 PM

After all the great things Corzine did for NJ, I’m sure he’ll do similar great things for the nation as a whole.

At least Corzine isn’t in the pocket of the big investment firms.

/s

hawksruleva on August 3, 2011 at 2:57 PM

Fasten your Seatbelts!
No, Not you Mr. Corzine

400lb Gorilla on August 3, 2011 at 2:56 PM

Are you calling my ex-Gov a crash test dummy?

clnurnberg on August 3, 2011 at 2:57 PM

Corzine didn’t exactly build an impressive track record while serving less than a full term in the Senate. Corzine ran for and won the gubernatorial election in New Jersey in the fifth year of that single term

In other words, he Quit his job as a US Senator to do something else.

Del Dolemonte on August 3, 2011 at 2:58 PM

Doubling down on stupid. Isn’t this the tool that bankrupt New Jersey?

jawkneemusic on August 3, 2011 at 2:58 PM

Geeze. Yet another criminal being bounced around for a primo position. I’m shocked!!! NOT!!!!

capejasmine on August 3, 2011 at 3:00 PM

Anyone who has ever worked for Goldman Sachs should be barred.

Or should we just label the fed a subsidiary of GS?

Mangy Scot on August 3, 2011 at 3:00 PM

BTW – So often we hear that the crash of 2008 was due to lack of regulation.

As head of the New York fed, Geitner was the regulator primarily responsible for moniotoring the big money center banks pre-crash.

He should never have been approved.

Good riddance tax cheat!

Deafdog on August 3, 2011 at 3:00 PM

I still want Corzine and Spendell to have their limo race. They were both clocked going about 90 during their terms as governors.

All anyone needs to know about Corzine is that he sucked so bad, NJ elected a Republican to get him outta there.

forest on August 3, 2011 at 3:01 PM

Holy Crap Sandwich!

MeatHeadinCA on August 3, 2011 at 2:48 PM

No Sir. That there is a genuine, grade ‘A’ Satan Sammie.

MJBrutus on August 3, 2011 at 3:01 PM

Sorry, s/b Christie.

Schadenfreude on August 3, 2011 at 3:01 PM

Send in the clown, there out to be a clown, don’t bother…he’s here.

Hening on August 3, 2011 at 3:02 PM

“… co-authoring the Sarbanes-Oxley Act”

Let that sink in for a while…

Seven Percent Solution on August 3, 2011 at 3:04 PM

Btw, Obama put Geithner in that position as a pay off. Geithner’s daddy helped the Obama family out, financially, years back.

Schadenfreude on August 3, 2011 at 3:04 PM

I can’t wait for the updated “Driving into a Ditch” from Obama with Corsine at his side…

Odie1941 on August 3, 2011 at 3:04 PM

Trading a weasel for a skunk. Where’s the upside?

SKYFOX on August 3, 2011 at 3:05 PM

Corzine? Hey, how about Bernie Madoff? I hear he has some time on his hands.

petefrt on August 3, 2011 at 3:06 PM

Trading a weasel for a skunk. Where’s the upside?

SKYFOX on August 3, 2011 at 3:05 PM

The latter is smelt from miles away.

Just like New Jersey.

Odie1941 on August 3, 2011 at 3:07 PM

dead in the water, the left will never allow it.

rob verdi on August 3, 2011 at 3:07 PM

I think we can do without any more GS execs in senior policy positions, thank you very much.

pedestrian on August 3, 2011 at 3:07 PM

Note to GOP Senate: Block this POS.

BuckeyeSam on August 3, 2011 at 3:10 PM

Chicago or Harvard?

rogerb on August 3, 2011 at 3:10 PM

Here ya go.

Aug. 3 (Bloomberg) — MF Global Holdings Ltd. took the cult of the Wall Street chief executive officer to a new level with its sale of bonds that pay a higher rate if Chairman and CEO Jon Corzine quits to take a job from the U.S. president.

The futures broker sold $325 million of five-year unsecured notes, the company said today in a statement. The notes will pay an extra percentage point of interest if Corzine is named to a federal post and confirmed by the Senate before July 2013, New York-based MF Global said yesterday in a regulatory filing.

“That seems crazy,” said William Larkin, a fixed-income portfolio manager who oversees $500 million at Cabot Money Management Inc. in Salem, Massachusetts, and has 22 years of experience. “I’ve never heard of something like this.”

Corzine, the 64-year-old former governor of New Jersey, helped run Goldman Sachs Group Inc. from 1994 to 1999 and served in the Senate from 2001 to 2006. Since joining MF Global last year, he’s taken more risk with the firm’s money in a bid to remake the broker into a mid-size investment bank and has sought to alter its capital structure to reduce borrowing costs. The shares rose 9.5 percent in the past year under his watch, while the Standard & Poor’s 500 Financials Index fell 4.9 percent.

A Democrat, Corzine is among the biggest fundraisers for President Barack Obama’s 2012 re-election campaign. He has been the subject of speculation about administration jobs such as Treasury secretary or White House economic adviser, said Christopher Allen, an analyst at Evercore Partners Inc. in New York.

Retention Bonus

Jay Carney, the White House press secretary, said he had “no knowledge” that Corzine was being considered for an administration post. He declined to comment on the bond sale.

Corzine’s employment contract is written with a view to future government service. It stipulates that he’ll be paid his $1.5 million retention bonus on a pro rata basis if he leaves to work for any “U.S. federal, state or local government” before March 31, 2014.

Five senior Wall Street executives at rival firms, who declined to be identified because they weren’t authorized to comment, expressed amazement at the bond offering’s unique terms. Hedge funds sometimes allow investors to withdraw their money if a star manager or founder, designated a “key man,” leaves the company.

Diana DeSocio, an MF Global spokeswoman, said yesterday she couldn’t comment because the company is in the offering period for the bond. She couldn’t immediately be reached for comment today.

‘Extra Protection’

“I can’t say I’ve ever seen a provision similar to this one,” said Alexander Diaz-Matos, an analyst at New York-based Covenant Review LLC, which analyzes bondholder protections. “Apparently Corzine is a big enough deal to the company that if he leaves, potential investors demanded a little extra protection.”

Larkin said he was surprised that the interest-rate change on the bonds applies only if Corzine leaves for a government job and not in any other circumstance.

“To have it so specific makes it even more unusual,” said Diaz-Matos.

The notes pay a coupon of 6.25 percent, with proceeds to be used to repay a bank credit facility and for general corporate purposes, according to the statement. Jefferies & Co. managed the bond sale, the company said. MF Global initially offered $300 million of the debt, said a person familiar with the offering who declined to be identified citing lack of authorization to speak publicly.

Investor Concern

The idea for the Corzine step-up provision emerged from Jefferies bankers working on the deal, according to one person with direct knowledge of the discussions, who asked not to be identified because the talks were confidential. The Jefferies bankers indicated they wanted to head off any investor concern that Corzine might leave, the person said.

Corzine Clause in MF Global Offering Stuns Wall Street

rockmom on August 3, 2011 at 3:11 PM

We’ve really begun to turn the economy around.

carbon_footprint on August 3, 2011 at 3:04 PM

DWS: “She Of The Angry Perm” (per Monica Crowley)

petefrt on August 3, 2011 at 3:11 PM

John Corzine was on his way to a meeting to do a hatchet job on Dom Imus after the April 2007 Nappy Headed Ho sound bite heard round the world. His auto was speeding he wasn’t wearing a seat belt and he was hurt badly….exit question: Was it a message from God?

Corzine was part of the pile on to lynch Don Imus in the media. Who thinks he’s changed? Ask Governor Chris Christie what Corzine left behind for him to clean up. We want Corzine doing to the U.S. treasury what he did to the New Jersey treasury while he was governor? What’s the matter Jamie Gorelick isn’t available?

Corzine should take Geithner’s place? Hell NO.

Dr Evil on August 3, 2011 at 3:11 PM

Hopefully if the Senate’s going to confirm Corzine, they’ll also approve a bill at the same time increasing the speed limit on the Beltway to 90 mph, just so the new Treasury Secretary can feel like he’s back in New Jersey.

jon1979 on August 3, 2011 at 3:11 PM

Wow, isn’t this the moron who tried to bankrupt NJ and almost did? And Obama wants to replace Geithner with this guy.

Dude, I have no words for this type of assinine tom foolery. Obama is the biggest economic and financial moron in the world! Someone take back that Nobel before obama has it smelted.

upinak on August 3, 2011 at 3:12 PM

Note to GOP Senate: Block this POS.

BuckeyeSam on August 3, 2011 at 3:10 PM

I second that motion.

Dr Evil on August 3, 2011 at 3:12 PM

Or should we just label the fed a subsidiary of GS?

Mangy Scot on August 3, 2011 at 3:00 PM

That’s pretty much what it is. The Fed is owned by its member banks, not by the Federal Government. We just get to appoint its chairman.

pedestrian on August 3, 2011 at 3:13 PM

Cor-t-izine would be a perfect replacement. At least Barry is sticking with the Abbott and Costello script.

Limerick on August 3, 2011 at 3:13 PM

I would expect Obama to be more willing to eat Geithner’s satan sandwich than have to take responsibility for a decision to place someone else in the position. Decisions aren’t his strong suit.

rw on August 3, 2011 at 3:14 PM

The futures broker sold $325 million of five-year unsecured notes, the company said today in a statement. The notes will pay an extra percentage point of interest if Corzine is named to a federal post and confirmed by the Senate before July 2013, New York-based MF Global said yesterday in a regulatory filing.

rockmom on August 3, 2011 at 3:11 PM

rockmom, who has the clause? Soros? A private entity?

upinak on August 3, 2011 at 3:15 PM

petefrt, I could only watch a half minute. His premise “can you trust the Rs to turn this economy around?”…

Hello, since 2006 they owned it and it’s all in the toilet. She then is more delusional than him, for shame. We all know he is a talking dummy. But what is her excuse?

Schadenfreude on August 3, 2011 at 3:15 PM

DWS: “She Of The Angry Perm” (per Monica Crowley)

petefrt on August 3, 2011 at 3:11 PM

I bet her hair smells bad when it’s wet. Gross.

I would love to have Corzine here in this role. The campaign videos write themselves, starring Chris Christie.

SouthernGent on August 3, 2011 at 3:18 PM

Why not? Look what he did for New Jersey.

rocinaterider on August 3, 2011 at 2:56 PM

My sentiments exactly…and I’m STILL paying for it in spades.

NJ Red on August 3, 2011 at 3:19 PM

Amazing.

This professional hack union-paid-for-through-and-through loser sunk New Jersey into a fiscal disaster and that becomes his resume and qualifications to head the United States TREASURY!

Opposite Day on August 3, 2011 at 3:21 PM

This was all planned by the Soros team in advance. As semi-credible people are pushed out of their their positions within the White House, they are to be replaced by complete idiots. Corzine fits the bill to a t!

maryo on August 3, 2011 at 3:22 PM

The latter is smelt from miles away.

Just like New Jersey.

Odie1941 on August 3, 2011 at 3:07 PM

I beg your pardon. We threw Corzine out, didn’t we?

NJ Red on August 3, 2011 at 3:22 PM

Our commie Senate will confirm Corzine like they confirmed the other recent Cabinet Commie to DoD, Leon Panetta, unanimous confirmation.

el Vaquero on August 3, 2011 at 3:23 PM

More to the point, though, Corzine’s association with Goldman Sachs will be a political headache for Obama at a moment when his base is already in rebellion over the debt-ceiling deal.

Actually, maybe it should be Corzine; more headaches for Obie is always good.

AH_C on August 3, 2011 at 3:24 PM

In other words, he Quit his job as a US Senator to do something else.

Del Dolemonte on August 3, 2011 at 2:58 PM

Yeppers.

You might even say he abdicated! Eleventy11!

massrighty on August 3, 2011 at 3:24 PM

Didn’t Corzine also leave some torpedoes in the water for Christie to deal with wrt government union pension funding, or lack thereof? First question, will you show as much financial responsibility working for the federal government as you did then?

PS: He purchased his seat in the Senate, and he purchased his governor’s office with his personal fortune. The elections were minor details.

slickwillie2001 on August 3, 2011 at 3:25 PM

rockmom, who has the clause? Soros? A private entity?

upinak on August 3, 2011 at 3:15 PM

MF Global is the brokerage firm where Corzine works now. It raised some capital through a bond issue but promised buyers of the bonds an additional payment if Corzine leaves to take a government job. It’s sort of a risk premium for investors who might be willing to buy MF bonds only because Corzine is running the place. Extremely unusual for a sepcific person to be named in a clause like this. But this is what has sparked the rumors about Corzine.

rockmom on August 3, 2011 at 3:25 PM

Aw why not. Barry has already made Washington into a velvet lined cesspool. What’s one more turd.

GarandFan on August 3, 2011 at 3:28 PM

The Republicans should call Gov. Christie to the confirmation hearing to testify about what a lousy state Corzine left NJ in.

irishspy on August 3, 2011 at 3:30 PM

Even the Mitch McConnells in the Senate have to see that the choice of the next SecTreasury is a very important one from a competency POV.

Putting a political hack like Corzine in is a major mistake. Given his co-authorship of S-Ox and the way he totally mismanaged Joisey to the point where Christie sent him back into private life, I can’t see him getting a lot of collegial support just because he’s a former Senator.

To bring up an old argument I like to revive every so often, one of the most famous rejected cabinet appointments of the last 30 years, John Tower, was a former Senator who got railroaded by his colleagues because he was seen as “too cozy” with the defense industry that he’d be overseeing.

teke184 on August 3, 2011 at 3:31 PM

Wow. they really want to destroy the economy with this loser.

ConservativePartyNow on August 3, 2011 at 3:31 PM

Welcome to the United States of New Jersey.

MJZZZ on August 3, 2011 at 3:33 PM

Didn’t Corzine also leave some torpedoes in the water for Christie to deal with wrt government union pension funding, or lack thereof? First question, will you show as much financial responsibility working for the federal government as you did then?

I don’t know about pension funding, but he specifically left one WRT a tunnel under the Hudson river that was a cooperative project between Joisey, New York, the Transit Authority, and the Feds. Joisey got a certain amount of money to complete the project but would get stuck with any cost overruns that happened. Christie killed the project until he could get the government to agree to take on any overruns that occurred on the project.

teke184 on August 3, 2011 at 3:33 PM

In other words, he Quit his job as a US Senator to do something else.

Del Dolemonte on August 3, 2011 at 2:58 PM

QUITTER! QUITTER! QUITTER!

Hmmm, where have I heard that before? But I’m sure one of our favorite libs will be happy to explain to us why Corzine quitting is different than you-know-who.

Paging crr6. Please pick up the white courtesy phone.

GrannyDee on August 3, 2011 at 3:34 PM

The latter is smelt from miles away.

Just like New Jersey.

Odie1941 on August 3, 2011 at 3:07 PM
I beg your pardon. We threw Corzine out, didn’t we?

NJ Red on August 3, 2011 at 3:22 PM

Simmer down, I’m a native NYker.. you know the rest.

Odie1941 on August 3, 2011 at 3:35 PM

Extremely unusual for a sepcific person to be named in a clause like this. But this is what has sparked the rumors about Corzine.

rockmom on August 3, 2011 at 3:25 PM

Would it be another “entitity” that holds the clause if this happens? Since Bonds usually don’t have a special insurance policy.

Something smells like sewage.

upinak on August 3, 2011 at 3:38 PM

They found someone who paid their taxes?

right2bright on August 3, 2011 at 3:39 PM

They found someone who paid their taxes?

right2bright on August 3, 2011 at 3:39 PM

Figures it would take three years for them to find a Dem who did so.

teke184 on August 3, 2011 at 3:42 PM

Bwahahahaaaaa…../wiping away tears

The ex-gov of New Jersey that got booted out (and we are talking about Jersey here)? THAT Corzine?!???!!!

Why? He has thicker skin and lies better than tiny tim?

Sir Napsalot on August 3, 2011 at 3:43 PM

They found someone who paid their taxes?

right2bright on August 3, 2011 at 3:39 PM

No, that would disqualify him/her.

Mangy Scot on August 3, 2011 at 3:43 PM

Well why not – at least he wasn’t trolling the GS Parkway rest stops for guys to pick up.

katiejane on August 3, 2011 at 3:43 PM

I heard on the news this morning that Corzine is a major $$ bundler for Obama. Coincidence?

LASue on August 3, 2011 at 3:46 PM

Have they checked Corzine’s Taxes?

IowaWoman on August 3, 2011 at 3:50 PM

OMG. Good thing I moved my money into more secure positions today. Corzine would be an economic disaster – just what Obama is looking for!

KickandSwimMom on August 3, 2011 at 3:53 PM

Well why not – at least he wasn’t trolling the GS Parkway rest stops for guys to pick up.

katiejane on August 3, 2011 at 3:43 PM

True, but bodies were picked up on the GS Parkway after his truck crashed… with a false account of a “pick up driver hitting them” – as the raced 90+ on a glorified parking lot.

Odie1941 on August 3, 2011 at 3:54 PM

Those who know Corzine laugh at this speculation. He needs to make some more money, having spent so much of his dough on past political adventures, he likes his current job (while never being wild about being so fully in the public eye previously) and he believes he would have a more difficult confirmation process than you might think. He likes being a celebrity, though, so I suppose you never can tell.

MTF on August 3, 2011 at 3:59 PM

“Geithner, who has outlasted all of President Obama’s other original economic advisors, will resign now that the nation’s borrowing capacity has been extended to 2013…”

And as he and Obowma toast to the destruction of the United States because no one wanted to criticize or question the first black President…

“Well, that was easy…!”

Seven Percent Solution on August 3, 2011 at 4:18 PM

Here’s the torpedo I was thinking of: N.J. Gov. Chris Christie Says He’s Stuck With Bill for State Worker 7 Percent Pay Hike

Calling it an “exquisite pair of handcuffs” as he tries to plug a huge budget gap, Gov. Chris Christie today said he must follow a controversial deal former Gov. Jon Corzine gave unionized state workers last year that calls for a 7 percent pay raise in the upcoming fiscal year and bars him from ordering layoffs before January.

slickwillie2001 on August 3, 2011 at 4:23 PM

Gosh, he did such a great job for NJ’s finances. Yeah, let’s give him the keys to the freakin’ Treasury.

Mr. Bingley on August 3, 2011 at 2:51 PM

this /\…on that note, he`s perfect for the job.

NY Conservative on August 3, 2011 at 4:38 PM

Quitter!

Akzed on August 3, 2011 at 4:47 PM

Oh my God – I live in New Jersey. Corzine took New Jersey directly to bankruptcy – no pass Go – no collecting $200 dollars!!
“Tax Cheat” Timmy Geitner has to go but Corzine would only blow another hole in this sinking ship of State.

In NJ – he promised the UNIONS everything they wanted and signed contracts that he KNEW the taxpayers of New Jersey could never pay – that was fraud.

IlonaE on August 3, 2011 at 5:25 PM

Of course he’d be a wonderful choice! He did such a GREAT job here in NJ! If you consider driving the state to bankruptcy and selling out to unions a great job, he’s O’Bummer’s guy!

farleyman on August 3, 2011 at 5:54 PM

Isn’t he one of those hateful oil company stock owning millionaires/billionaires with a corporate jet???

kringeesmom on August 3, 2011 at 5:57 PM

Yeah, that’s not sweetening the deal, Ogabe.

rightwingyahooo on August 3, 2011 at 7:14 PM

Corzine and the editor of Vanity Fair have bundled $35 million for Obama already. Methinks his bundling skills will be more important for Obama than his Treasury skills.

Greyledge Gal on August 3, 2011 at 7:58 PM

Wow. It is hard to believe that Corzine would even be considered for this. He was a compromise pick at GS because the two main factions hated each other and wouldn’t let the other side have their desired guy.

He stank as NJ governor…with his highlights being raising the sales tax, increasing spending and a hilarious attempt to sell the public on insane toll increases to bail out the state. The town halls were stopped about halfway through since he was being savaged.

I am amazed he has done as well for himself as he has. He is, and I quote former acting governor Richard Corey here “not that bright.”

So for O, he’s perfect.

cranfordpundit on August 3, 2011 at 9:20 PM

Goldman Sachs CEO

When do the marches on the WH begin?
-

RalphyBoy on August 4, 2011 at 2:00 AM

Are you kidding? Corzine is a shoe in!!! You need to remember that Corzine already knows how it’s done! He already bankrupted New Jersey & Obama has made it perfectly clear by his actions that this has been his plan for the country all along!!! Corzine is perfect for the job!!!

/sarc

Vntnrse on August 4, 2011 at 5:19 AM

Fasten your Seatbelts!
No, Not you Mr. Corzine

400lb Gorilla on August 3, 2011 at 2:56 PM

Harsh . . . but very clever! Winner.

Trochilus on August 4, 2011 at 1:55 PM

. . . .

PS: He purchased his seat in the Senate, and he purchased his governor’s office with his personal fortune. The elections were minor details.

slickwillie2001 on August 3, 2011 at 3:25 PM

Yes, and the Senate seat cost this political protege (and close pal) of former Senator Bob Torricelli, a little over $62 million. That was more than double the amount anyone had ever previously spent on a U.S. Senate seat (Michael Huffington, CA – $28 mil). He only spent $38 million on his re-election campaign, but it was enough to raise a few eyebrows to the fact that Joh Corzine spent over $100,000,000.00 on a mere two United State Senate seat elections.

He also “purchased” the head of the largest public sector unions, the CWA . . . Carla Katz . . . that one on a kind of “installment” plan. They met when he was a Senator, and when they eventually broke up, she received a windfall “settlement.”

During their relationship, and thereafter while huge public sector contracts were being negotiated with public sector unions including hers, he kept buying her lots of things — like houses, through giving her a huge loan to buy out her husband’s interest in her prior marriage home, and then later forgiving the loan.

Now, with his “bundling” for Obama, there will be the inevitable charge that he is thereby purchasing the office of Treasury Sec’y. You be the judge.

Trochilus on August 4, 2011 at 2:42 PM