Three Years Ago Today, Obama Was “Proud To Stand With” Jon Corzine

Obama: Corzine Was One Of My Earliest Supporters. “First of all, I’m going to have a lot to say about this guy, but I just want everybody to know that one of my earliest supporters, somebody who had faith and confidence in me before I was a United States senator was the man standing next to me right here — Jon Corzine.” (President Barack Obama, Remarks By The President At Luncheon Fundraiser With Governor Jon Corzine, Holmdel, NJ 7/16/09)

Obama Was “Proud To Stand” With Corzine Who He Called A “Leader…Called To Govern In Some Extraordinary Times.” “I’m proud to stand with a man who wakes up every single day thinking about your future and the future of this state — and that’s your governor, Jon Corzine. Like many of us in public life today, Jon is a leader who’s been called to govern in some extraordinary times. He’s been tested by the worst recession in half a century a recession that was caused by years of recklessness and irresponsibility and a do-nothing attitude.” (President Obama, Remarks By The President At New Jersey Rally For Governor Jon Corzine, Holmdel, NJ, 7/16/09)

Obama: Corzine “Was An Ally With The Obama Administration In Helping Us Develop A National Recovery Plan.” “Jon Corzine wasn’t just the first governor to pass an economic recovery plan for his state; he was an ally with the Obama administration in helping us develop a national recovery plan.” (President Obama, Remarks By The President At New Jersey Rally For Governor Jon Corzine, Holmdel, NJ, 7/16/09)

• Watch Obama’s Comments Here

Obama’s “Wall Street Guy” Lost Billions In Customer Money And May Face Civil Claims

Jon Corzine Played A “Central Role” In Obama’s Wall Street Fundraising Efforts. “His new legal troubles, sparked by the bankruptcy filing of his investment firm, MF Global, could complicate the president’s efforts to raise money from the financial community given Corzine’s central role in those efforts.” (Michael Isikoff, “Corzine, Top Obama Fundraiser, Under FBI Investigation,” MSNBC, 11/2/11)

• Obama: Corzine Is “Our Wall Street Guy.” “The rollout also provided a showcase for Corzine, the former Goldman Sachs CEO whom Obama referred to as ‘our Wall Street guy’ at a meeting of Democratic governors in Chicago on Friday.” (Claire Heininger, “Corzine Profile Rises In Obama Camp,” The Star-Ledger (NJ),6/23/08)

On October 31, 2011, Jon Corzine’s Wall Street Firm, MF Global Filed For Bankruptcy. “Broker-dealer MF Global, headed by former New Jersey governor and Goldman Sachs chairman John Corzine, has filed for bankruptcy protection, apparently because of holdings of European debt.” (“Broker-Dealer MF Global Files For Bankruptcy,” USA Today, 10/31/11)

$1.6 Billion Went Missing From Customer Accounts. “The MF Global Missing Money Caper continues. Earlier this week, MF Global’s trustee provided an update on several things but not the missing money. Turns out he just needed a few more days so the world could get ready to hear this: There’s another $400 million now included in the official figure. (Insert Law & Order sound effect here.) Colleague Jacob Bunge is reporting that the new estimate for the deficiency in customer accounts is $1.6 billion.” (David Benoit, “MF Global Missing $1.6 Billion, counting U.K.,” The Wall Street Journal’s “Deal Journal,” 2/10/12)

In November 2011, Jon Corzine Became “The Center Of An FBI Investigation.” “Jon Corzine, now the center of an FBI investigation into the handling of hundreds of millions of dollars invested in his securities firm, was one of the leading Wall Street fundraisers for President Obama’s campaign and suggested to investors that he might take a top administration post if the president were re-elected.” (Michael Isikoff, “Corzine, Top Obama Fundraiser, Under FBI Investigation,” MSNBC, 11/2/11)

• In December 2011, Jon Corzine Testified Before The House Of Representatives, Saying: “I Simply Do Not Know Where The Money Is, Or Why The Accounts Have Not Been Reconciled To Date.”(Jon S. Corzine, Committee On Agriculture, U.S. House Of Representatives, Testimony, 12/8/11)

MF Global Trustee James Giddens “Sees Possible Civil Claims Against Former Chief Executive Jon Corzine.” “The trustee liquidating MF Global Holdings Ltd broker-dealer said on Monday he sees possible civil claims against former Chief Executive Jon Corzine and other top executives for breach of duties to customers.” (“Ex-MF Global CEO Jon Corzine Could Face Civil Claims, Trustee Says,” Reuters, 6/4/12)