Lesson’s of Jon Corzine’s fall
The mortal blow for MF Global was the realization that Corzine was just a mortal man.
“It’s tempting to blame “Wall Street greed” for Corzine and MF Global’s missteps, but something deeper was at work. Corzine has described himself as an “unabashed liberal.” His liberalism included a faith in the effectiveness of government and a suspicion that the best and the brightest know better than markets.”
The bond vigilantes are the real world, not government promises by liberal bureaucrats.