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Originally Posted by Dee8go
Maybe so, but here's a guy that the voters of New Jersey put in office in a position to handle America's tax dollars, who then went into private money managing and tried to run THAT business just the way he was operating in government.
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I believe that is incorrect; NJ voters elected him governor of their state after leaving Goldman Sachs; NJ subsequently elected Mr. Christie, a rebuke to Mr. Corzine's re-election campaign for a second term.
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Unfortunately, private companies, unlike the US government, aren't allowed to just fire up the printing presses and print more money when they screw up. I guess he didn't realize that when he was in charge of MF Global . . .
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While all investments carry risks, including the loss of principal investments, there is an investigation as to whether there was any wrong doing and if there was any unlawful transfer of investor assets.
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Warren Buffet was correct when he said that financial institutions would be run much more differently if the officers were financially liable for their management decisions.
I'd like to see that law get passed.
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That would be a silly law.