(WIKI) In the immediate wake of the MF bankruptcy, Corzine and the board were criticized in the financial press for their apparent non-awareness of the company’s condition in the immediate lead-up to the event and their apparent inabilities to manage the risk the company had assumed. MF Board at the time of bankruptcy filing:
Jon S. Corzine, Chairman and Chief Executive Officer
David P. Bolger, independent member, formerly Chicago 2016 and Aon Corporation
Eileen S. Fusco, attorney and CPA formerly for Deloitte & Touche
David Gelber, independent member, formerly ICAP plc, Citibank NA, Chemical Bank and HSBC
Martin J.G. Glynn, independent member, former CEO HSBC
Edward L. Goldberg, founder of Longview Investments, LLC, formerly Merrill Lynch
David I. Schamis, managing director at J.C. Flowers & Co. LLC, (Chris Flowers oversaw Corzine’s “blind trust” when JC held public office)
Robert S. Sloan, founder and managing partner of S3
As a US Senator Corzine used his office to get a law passed giving a tax break to a troubled Japanese bank——Christopher Flowers (a G/S crony) led the effort to takeover the bank for Corzine’s “blind trust.” Corzine said he “did not know” the law benfited him.
Another MF principal was Bradley Abelow (a G/S crony)-—appointed by Gov Corzine as NJ state Treasurer——Abelow and Corzine controlled billions of NJ’s assets.....many of which promptly disappeared, lost value, while some state agencies went bakrupt.
Treasurer Abelow and Gov Corzine formed an “investment company”....but the “financial geniuses” said they were “not aware” it is illegal for state officials to do so.