Bloomberg reports that Jon Corzine gave “direct instructions” to move $200 million in client money to cover a credit line extended by JPMorgan to MF Global.
The (apparently) smoking email comes from Edith O’Brian the MF Global treasurer. If this is indeed true it confirms what many have been saying for months. Namely that Corzine did in fact know where the missing customer money went to, in direct contrast to what he told a congressional committee earlier this year.
Looks like things might be getting a little bit hotter for old Jon. And just think, in September people were talking about Corzine taking over for Tim Geithner at Treasury. It doesn’t look that is going to happen. Maybe Lloyd Blankfien will be available soon.