With the announcement that MF Global Trustee (and former FBI chief) Louis J. Freeh will charge Jon Corzine for failing in his duty to oversee the company, the meaning of Jon Corzine shifts once again. Prior to this announcement, I understood the meaning of Corzine primarily through the following investment aphorism:[1] “One of the worst

Four quick thoughts now that the elections are over, from a recovering banker. 1. The equity indexes fell immediately at the open today, and remain down over 2% on the day.  Do not let any talking head from the financial-industrial-infotainment industry try to suggest that this is in response to Obama’s election.  Every trader on

Ok, so it’s no secret I’m pretty sweet on SIGTARP, the Norse God of Financial Accountability. There’s the pleasure of calling a fellow US Treasury colleague a liar. There’s the feistiness of a government official pointing out that through our failure to rein in TBTF banks, we’ve laid the groundwork for the next crisis There’s

We love to criticize the wastefulness of bureaucracy, the agency ass-covering, and the naiveté of government officials.  But it’s a surprising pleasure to read[1] The SIGTARP [2]  review of the government’s response to Citigroup’s near-death experience and its bailout in the Fall of 2008. Here we have a US Treasury position created for the purpose