Skip to comments.Regulator gave $10k to NJ Dems as Corzine ran (for Governor of NEW Jersey in 2005)
Posted on 11/03/2011 1:54:14 PM PDT by NormsRevenge
WASHINGTON (AP) -- The regulator overseeing the investigation of Jon Corzine's collapsed securities firm, MF Global, gave $10,000 to the New Jersey Democratic Party in 2005 as Corzine ran for governor of that state.
Gary Gensler, chairman of the Commodity Futures Trading Commission, and Corzine had worked together for 18 years at Goldman Sachs Group Inc. and later collaborated to pass a law to combat corporate fraud.
Election records show Gensler gave the money in August 2005. Corzine, a Democrat, was elected governor later that year.
MF Global filed for bankruptcy protection on Monday. Gensler and other regulators are trying to find out what happened to hundreds of millions in clients' money that went missing last week.
Gensler's long history with Corzine poses an apparent conflict of interest that could taint the probe's findings, experts say.
"The appearance of a conflict is there, there's no question," said Jay Lorsch, a professor at Harvard Business School. "It might be wise for Mr. Gensler to recuse himself from this particular investigation."
Gensler rose to become Goldman's co-head of finance before leaving in 1997. Corzine left Goldman in 1999, after serving as chairman and CEO.
(Excerpt) Read more at finance.yahoo.com ...
You are really sloppy with proof reading or you have quite a selection of swastikas at home.
Nope just an OWS - 99% mole.
Jersey isn’t Kosher. I hope that was just a typo.
Gentsler is a Goldman Sack the Treasury guy too appointed by obama!
Member since Feb. 6, 2001
Is that a typo in the headline or are you being purposely offensive?
Norm is a trusted long-time Freeper. This is a typo.
Shouldn’t that be “Jooooooooooo Jersey”?
“”The appearance of a conflict is there, there’s no question,” said Jay Lorsch, a professor at Harvard Business School. “It might be wise for Mr. Gensler to recuse himself from this particular investigation.””
Appears to be a conflict. And this is a professor at the Harvard Business School. My dog could have said that.
Mr. Gensler shouldn’t recuse himself. He should be sharing a cell with Corzine.
Watch the accusations!
WASHINGTON Nine years ago, Gary Gensler played a central role in fending off tough regulation for exotic financial instruments for hedging against risk. On Thursday, President-elect Barack Obama picked him for a central role in cleaning up the wreckage that some of those instruments caused.
Mr. Obama named Mr. Gensler, a former Treasury official under President Clinton, to take over a seemingly obscure backwater of regulation, the Commodity Futures Trading Commission.
But the commission, which regulates the exchanges that trade futures contracts for products as varied as oil, wheat and instruments for betting on interest rates, will be a major battleground over reining in the trillion-dollar markets for credit-default swaps and other derivative financial instruments that greatly aggravated the damage caused by the subprime mortgage meltdown.
In 1999, Mr. Gensler worked alongside Robert E. Rubin, then the Treasury secretary under President Clinton, and Alan Greenspan, then the chairman of the Federal Reserve, to block proposals by the commission to regulate the new instruments.
I’m holding my breath for Occupy Goldman-Sachs.
We gotta get the goods on Cain!
They need to Occupy Obama!
Thanks , Dan.
Yes , it was a typo..
but thanks for the votes of confidence of others here.
You will be remembered. ;-)
It’s a good thing I didn’t post Mew Jersey.. that would have been an udder debacle.
Nice threads on the cat., btw.
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