Jon Corzine Hedge Fund
With No Criminal Case Against Corzine, Will He Launch Hedge Fund?Many in finance and politics wondered what Jon Corzine's next move would be after the disastrous end to his tenure at MF Global. The former governor of New Jersey who rose to prominence as a top executive at Goldman Sachs was at the helm of MF Global when the brokerage firm collapsed and clients' money was lost, prompting an investigation by regulators. Today, reports suggest that there will be no criminal case against the firm or executives like Mr. Corzine. Word on the street is that he is looking to launch a hedge fund.
Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans. He is currently trading with his family’s wealth.
If he is successful as a hedge fund manager, it would be the latest career comeback for a man who was ousted from both the top seat at Goldman Sachs and the New Jersey governor’s mansion.
A spokesman for Mr. Corzine declined to comment.
Even with the worst behind him, Mr. Corzine’s reputation has suffered lasting damage.
After the collapse of the firm, which left farmers and other MF Global customers out millions of dollars, Mr. Corzine became another face of Wall Street recklessness. Lawmakers called him back to Washington, a humbling return to the town where he once served as a Democratic senator from New Jersey, to seek answers and to criticize him. With a criminal case unlikely to materialize, the anger over the collapse of MF Global is likely to grow. Source