Thirteen years ago, when the hedge fund Long-Term Capital Management was desperately negotiating with Wall Street banks for a bailout, Jon Corzine, the chief executive officer of Goldman Sachs Group Inc., called John Meriwether, LTCM’s founder, and read him the riot act. Wall Street would invest, Corzine said, but “JM” would have to accept more controls, including strict supervision over his firm’s trading limits.
John F. W. Rogers is known on Wall Street for four initials and an enviable fact of corporate geography. The F. and W. stand for Francis and William, though why Rogers uses them both is one of several mysteries he has either gone out of his way to cultivate or never seen fit to explain.
MF Global Holdings Ltd. took the cult of the Wall Street chief executive officer to a new level with a plan to sell bonds that pay a higher rate if Chairman and CEO Jon Corzine quits to accept a job from the U.S. president.
When it comes to shining a light on the cozy relationships between Wall Street and Washington, and how the rich and powerful get access to things the rest of us don’t, there can never be too many juicy examples.
U.S. lawmakers may preserve some of the Bush tax cuts while taking steps to restrain the federal budget deficit, possibly by controlling Social Security costs, said Jon Corzine , the former governor of New Jersey.