The president and chief operating officer of failed broker MF Global Holdings Inc. has agreed to have his annual base salary of $1.5 million slashed 96 percent as he stays on to work on the company's Chapter 11 restructuring.
He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers. Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure.
Once upon a time, when he was governor, Jon Corzine was feeling the barbs of political criticism and setback. As he sat next to me in our studio, he seemed unusually subdued and distracted. During a News and Commercial break,
MF Global Holdings Ltd., the securities firm run by former New Jersey Governor and Goldman Sachs head Jon Corzine, is seeking bankruptcy protection one week after reporting its biggest-ever quarterly loss
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