, Columnist
Jon Corzine, the Biggest Little Target the Feds Can Sue
Corzine may not be the most culpable of the Wall Street executives involved in the financial crisis, but he's the one the CFTC is going to make an example of.
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Here's a novel approach for U.S. financial regulators: The Commodity Futures Trading Commission has told Jon Corzine's lawyers that it plans to sue him over the collapse of MF Global Holdings -- and this is the unusual element -- without giving him a chance to settle.
The CFTC may approve a suit as soon as this week against the former New Jersey governor and senator who was MF Global's chairman and chief executive officer when it failed in 2011, according to Bloomberg News, which cited a person with direct knowledge of the situation. A spokesman for Corzine, Steven Goldberg, said the move would be "unprecedented and meritless." The story was first reported by the New York Times.