Why isn’t Corzine in a federal prison ?
(1) As a US Senator, Jonny got legislation passed which benefited an investment made by his "blind trust"---Jon said "he did not know" the law he sponsored benfited him.
(2) As NJ governor, Jonny installed G/S pal Brad Abelow as NJ Treasury head --Abelow oversaw all monies that come into NJ. So when Jon an Brad started an investment company, Corzine said "he did not know" that it was illegal for state officials to do so.
(3) As head of MF Global---Jonny and pal Brad Abelow (an MF Global principal) told Congress "he did not know" what happened to $1.4 billion missing investor money.
(4) When Jonny sent $5000 to bailout a woman charged w/ stalking, Jonny said "he did not know" what she was in jail for.
And that's how Jonny became a G/S biggie w/ a $350 million exit pkg....he played dumb (/snix).
IMHO, we need to get much tougher on these Wall Street criminals. Fining them is not enough. They always seem to have plenty of money to pay the fine.
We need jail time. Hard jail time. Maybe that would serve as a sufficient deterrent. Fines certainly aren’t.
The comment above about Madoff is perfect. In my mind there is little or no difference between Madoff and Corzine and those like him.
IF you steal a few thousand of someone else's money they call it theft. IF you steal a couple hundred million they call it "grossly negligent".