A congressional investigation into a failed venture capital firm run by a prominent former governor has faulted said governor for the debacle, which famously lost some billions in investor funds which, to this day, have not been accounted for.
No, it wasn’t Mitt Romney – it was former Democratic Governor of New Jersey Jon Corzine. One mystery that plagues this investigation is Mr. Corzine’s David Copperfield act that wiped $1.6 billion from MF Global’s client fund, which occurred days before the whole firm crumbled. Dina ElBoghdady of The Washington Post reported in the November 15 paper about this episode in financial malfeasance that cost people their jobs, and their savings – but it wasn’t too important for the paper's editors, who buried the item on page A18.
Furthermore, it took Ms. ElBoghdady six paragraphs to even mention that Mr. Corzine was a Democrat.
The report about Mr. Corzine’s epic failure at MF Global was released today by the House Financial Services's oversight subcommittee. That panel stopped short of alleging felonious activity by the former Democratic governor: They’re going to leave that to other prosecutors, who have launched their own investigations.
In all, ElBoghdady noted:
“farmers, ranchers, and ther customers may never get back over $1 billion of their money as a result of [Corzine’s] decisions," Rep. Randy Neugebauer (R-Tex.), the House panel’s chairman, said in a statement.
Is there any doubt that if any Republican acted as horribly as Corzine has done in managing a firm like MF Global that this would be on the front page of the Post and prominent in the news cycle for weeks on end?
