A $100 million here, a $100 million there

Jon Corzine to Congress today: “I simply do not know where the money is.” 

Hey, it could happen to anybody, mislaying hundreds of millions of dollars. I’m sure he meant well. Pobody’s nerfect!

Seth Mandel, at Commentary’s blog:

[T]o recap: Corzine made risky investments in European bonds as the continent sank toward insolvency and after he was warned by executives at MF Global about the risks; he used his influence with federal regulators to get them to back off on instituting rules that would have prevented Corzine’s activities and protected his investors from his recklessness; and several hundred million dollars of investor cash went missing, prompting an investigation into whether Corzine covered his firm’s bad bets with other people’s money.

Mandel notes that Corzine also said, in his statement to Congress, that he “may not testify accurately” because he didn’t have enough time to get his story straight prepare his testimony. Ah.