Jon Corzine

Jonathan Stevens "Jon" Corzine (/ˈkɔːrzaɪn/ KOR-zyne; born January 1, 1947) is an American financial executive and retired politician who served as a United States Senator from New Jersey from 2001 to 2006, and the 54th governor of New Jersey from 2006 to 2010. Corzine ran for a second term as governor but lost to Republican Chris Christie. A member of the Democratic Party, he previously worked at Goldman Sachs; after leaving politics, he was CEO of MF Global from 2010 until its collapse in 2011.^[1]

Jon Corzine
54th Governor of New Jersey
In office January 17, 2006 – January 19, 2010
Preceded by	Richard Codey
Succeeded by	Chris Christie
Chair of the Democratic Senatorial Campaign Committee
In office January 3, 2003 – January 3, 2005
Leader	Tom Daschle
Preceded by	Patty Murray
Succeeded by	Chuck Schumer
United States Senator from New Jersey
In office January 3, 2001 – January 17, 2006
Preceded by	Frank Lautenberg
Succeeded by	Bob Menendez
Personal details
Born	Jon Stevens Corzine (1947-01-01) January 1, 1947 (age 77) Taylorville, Illinois, U.S.
Political party	Democratic
Spouses	Joanne Dougherty ​ ​ (m. 1969; div. 2003)​ Sharon Elghanayan ​ (m. 2010)​
Children	3
Relatives	Roy A. Corzine (grandfather)
Education	University of Illinois Urbana-Champaign (BA) University of Chicago (MBA)
Signature
Military service
Allegiance	United States
Branch/service	United States Marine Corps
Years of service	1969–1975
Rank	Sergeant
Unit	Reserves

Education and early business career

Corzine was born in Taylorville, Illinois, the son of Nancy June (née Hedrick) and Roy Allen Corzine, Jr.^[2] His grandfather Roy A. Corzine, Sr. served in the Illinois General Assembly.^[3] He grew up on a small family farm in Willey Station, Illinois near Taylorville. After completing high school at Taylorville High School,^[4] where he had been the football quarterback and basketball captain,^[5] he attended the University of Illinois at Urbana–Champaign, where he was a member of the Phi Delta Theta fraternity, and graduated in 1969, earning Phi Beta Kappa honors.^[6][7] While in college, he enlisted in the United States Marine Corps Reserve and served from 1969 until 1975, attaining the rank of sergeant. In 1970, he enrolled in the University of Chicago Booth School of Business, from which he received a Master of Business Administration degree in 1973.^[8][9]

His first business experience was in the bond department of Continental Illinois National Bank, where he worked days while attending the Booth School of Business MBA program at night.^[5][10] He then moved to BancOhio National Bank, a regional bank in Columbus, Ohio, that was acquired in 1984 by National City Bank. Corzine worked at BancOhio until 1975, when he moved his family to New Jersey and was hired as a bond trader for Goldman Sachs.^[11]

Goldman Sachs

In 1976, Corzine joined Goldman Sachs as a bond trader and then became co-manager of the Fixed Income, Currencies and Commodities Division. He became a partner in 1980, and a member of the management committee in 1984. He served as Goldman Sachs' CFO (1991–1994), and a senior partner (1994–1999). During his leadership, Corzine oversaw the firm's expansion into Asia and was instrumental in leading the transition of the firm from a private partnership to a public company.^[12][13][14]

Corzine also chaired a presidential commission on capital budgeting for Bill Clinton^[15] and served as Chairman of the United States Department of the Treasury's borrowing committee.^[16] As the Goldman Sachs senior partner, he helped develop a private sector plan to rescue the hedge fund Long-Term Capital Management when the leveraged fund's collapse in the fall of 1998 threatened contagion across the U.S. financial system.^[17] According to U.S. News & World Report, Corzine did not get along with co-CEO Henry Paulson,^[18] who came from the other major area of the bank, investment banking.^[19] When Corzine participated in structuring the bailout, Paulson seized control of the firm.^[20] When Goldman Sachs went public after Corzine's departure,^[18] Corzine made $400 million.^[21]

Corzine has participated in meetings of the Bilderberg Group, a network of leaders in the fields of politics, business and banking (1995–1997, 1999, 2003, and 2004).^[22] He is a former member of the group's steering committee.^[23]

Corzine is a member of Kappa Beta Phi.^[24]

U.S. Senate

2000 election

Main article: 2000 United States Senate election in New Jersey

After being forced out from Goldman Sachs in January 1999, Corzine campaigned for a New Jersey Senate seat after Frank Lautenberg announced his retirement. Despite initially trailing behind his opponent in the Democratic primary by 30 percentage points,^[25] Corzine won the nomination by 16 points. He later attributed his successful primary run to pollster Bob Shrum who convinced him to run not as "a seasoned investment banker and job creator" but as a "liberal progressive".^[26] In the general election, Corzine won by just a three-point margin over his Republican opponent, four-term United States Congressman Bob Franks, in the November 2000 election. He was sworn into the Senate in January 2001.

He spent more than $62 million of his own money on his campaign, the most expensive Senate campaign in U.S. history – over $33 million of this was spent on the primary election alone, where he defeated former Governor James Florio 58–42%.^[21][27][28] Franks had been a last-minute choice because New Jersey Governor Christine Todd Whitman had been expected to run for the Senate.^[29] The record $62 million amount surpassed Michael Huffington, who spent nearly $28 million in an unsuccessful 1994 Senate race.^[30]

During the campaign, Corzine refused to release his income tax return records. He claimed an interest in doing so, but he cited a confidentiality agreement with Goldman Sachs. Skeptics argued that Corzine should have followed the example of his predecessor Robert Rubin, who converted his equity stake into debt upon leaving Goldman.^[31]

Corzine campaigned for state government programs including universal health care, universal gun registration, mandatory public preschool, and more taxpayer funding for college education.^[21][32] He pushed affirmative action and same-sex marriage.^[25] David Brooks opined that Corzine was so liberal that his election, although the fact that his predecessor was also a Democrat, helped push the Senate to the left.^[33]

During Corzine's campaign for the United States Senate, he made some controversial off-color statements. When introduced to a man with an Italian name who said he was in the construction business, Corzine quipped: "Oh, you make cement shoes!" according to Emanuel Alfano, chairman of the Italian-American One Voice Committee. Alfano reported that when introduced to a lawyer named David Stein, Corzine said: "He's not Italian, is he? Oh, I guess he's your Jewish lawyer who is here to get the rest of you out of jail."^[34] Corzine denied mentioning religion, but did not deny the quip about Italians, stating that some of his own ancestors were probably Italian,^[35] or maybe French.^[3]

Also in 2000, Corzine denied having made payments to African-American ministers, although the foundation controlled by Jon and Joanne Corzine had paid one influential black church $25,000.^[36] Reginald T. Jackson, director of the Black Ministers Council of New Jersey, had campaigned against a form of racial profiling whereby police officers stop minority drivers, and had gotten New Jersey state police superintendent Carl A. Williams fired. Corzine had donated to Jackson prior to getting what appears to be a reciprocal endorsement.^[37]

Tenure

 

Corzine in New Brunswick, New Jersey, in 2008

Corzine entered Congress in a class of 10 new senators, eight of whom were Democrats. According to U.S. News & World Report, Corzine, Hillary Clinton and Jean Carnahan were the more notable new Senators in 2000.^[38] During his five-year senatorial career, he was present at 1,503 of 1,673 votes, cosponsored 1,014 bills, sponsored 145 bills (only 11 of which made it out of committee), and had one sponsored bill enacted.^[39]

He co-authored the Sarbanes–Oxley Act. In the aftermath of Enron, he cosponsored (with Barbara Boxer) legislation, which was later propounded by Ted Kennedy,^[40] that reforms the 401(k) plan to minimize the risk of investment portfolios.^[41][42][43] The plan was opposed by President George W. Bush and faced strong opposition in Congress.^[44][45] Restrictions on retirement account allocations were in direct opposition to the contemporaneous movement towards self-directed individual retirement accounts for Social Security.^[46]

Corzine was a sponsor of the Start Healthy, Stay Healthy Act. He supported providing a two-year tax break to victims of the September 11, 2001 attacks and help grant citizenship to victims who were legal resident aliens. He supported gun control laws, outlawing racial profiling, and subsidies for Amtrak. He was the chief sponsor, along with U.S. Senator Sam Brownback, of the Darfur Accountability Act.^[47][48] He was one of 23 Senators to vote against the Iraq War Resolution. Corzine was the prime sponsor, along with fellow New Jersey U.S. Senator Frank Lautenberg, of a federal version of John's Law, in memory of Navy Ensign John R. Elliott (a native of New Jersey), a U.S. Naval Academy graduate who was killed by a drunk driver. The legislation provides federal highway safety grant incentives to encourage states to impound the cars of DUI suspects. He was an early contributing blogger at The Huffington Post.^[49]

In the aftermath of the September 11, 2001, attacks, Corzine and Peter Fitzgerald attempted to mold a more disciplined bailout of the airline industry, but even the redesigned plan was not entirely satisfactory to Corzine.^[50] Corzine opposed the reduction in low-income student eligibility for Pell Grant funding caused by changes in the "expected family contribution".^[51][52]

Corzine tried and failed to introduce legislation for chemical plant regulation six weeks after the September 11, 2001 attacks. Subsequent efforts by then-Administrator of the Environmental Protection Agency and former New Jersey Governor Christine Todd Whitman in 2002 were also squelched.^[53] Along with Hillary Clinton, he was one of the few senators who attempted to pressure the Bush administration to clamp down on regulation of the chemical and nuclear-power industries.^[54] His efforts helped make New Jersey one of the stricter states in the nation in terms of chemical plant regulation.^[55]

In 2001, Corzine coauthored (with Bob Graham) a tax-cut proposal aimed at lowering the marginal tax bracket from 15% to 10% on the first $19,000 of taxable income.^[56] In 2002, he proposed a tax cut that exempted the first $10,000 of income from the $765 of Social Security taxes for both employers and employees.^[57] Corzine also proposed making dividend payments tax deductible to companies as a form of economic stimulus.^[58]

While in the Senate, he chaired the Democratic Senatorial Campaign Committee from 2003 to 2005.^[59] In this role he was influential in convincing certain potential candidates to not run in order to avoid costly primaries in three key states during the 2004 United States Senate elections.^[60] He also played a role in the selection of Senator John Edwards as a running mate for Senator John Kerry.^[61] In 2002, Corzine called for the resignation of United States Securities and Exchange Commission Chairman Harvey Pitt.^[62]

Committee assignments

In the Senate, Corzine was a member of the Committees on Banking, Intelligence, the Budget, Foreign Relations, Environment, and Energy and Natural Resources.^{[citation needed]}

Campaigns for New Jersey Governor

2005

Main article: 2005 New Jersey gubernatorial election

Corzine and his opponent, Republican Doug Forrester, spent $73 million on their gubernatorial campaigns by the week before election day. This included $38 million by Corzine and $19 million by Forrester for the general election. The primaries accounted for the difference.^[63] Since Corzine had spent over $62 million on his 2000 United States Senate elections,^[64] the combined expenditures for Corzine's run for the Senate and governorship exceeded $100 million. The main campaign issues were property taxes and the Bush administration. New Jersey had averaged $5,500 in 2004 property taxes, and Corzine tried to link his opponent to Bush.^[65]

The campaign for the post of Governor of New Jersey was successful with 54% of the vote. Forrester, a businessman and a former Mayor of West Windsor Township, in Mercer County, won 43%. Corzine received 1,224,493 votes to Forrester's 985,235. A total of 80,277 votes, or 3%, were scattered among other candidates. Corzine won 13 of New Jersey's 21 counties: Atlantic, Bergen, Burlington, Camden, Cumberland, Essex, Gloucester, Hudson, Mercer, Middlesex, Passaic, Salem, and Union. Corzine won the three most populous counties (Bergen, Essex, and Middlesex), five of the top six, and seven of the top nine.^[66]

2009

Main article: 2009 New Jersey gubernatorial election

Corzine ran for re-election in the 2009 New Jersey gubernatorial election.^[67] In January 2009, Rasmussen Reports indicated that recently announced Republican challenger Chris Christie led Corzine 42% to 40%.^[68] Other polls that month showed Corzine with approvals of 46% to 40%, but these were trailing his "favorables", which were just 42–44%.^[69] By June and July, a number of polls showed Corzine trailing the Republican nominee, Christie, by double digits, though the tide changed again and by October polls showed Corzine was close, and in some cases, ahead.^[70] In the end, Corzine lost the race to Christie by a margin of 48.5% to 44.9%, with 5.8% of the vote going to independent candidate Chris Daggett.^[71]

Governor of New Jersey

The Corzine Cabinet
Office	Name	Term
Governor	Jon Corzine	2006–2010
Adjutant General	Maj. Gen. Glenn K. Rieth	2006–2010
Secretary of Agriculture	Charles M. Kuperus	2006–2009
Douglas H. Fisher	2009–2010
Attorney General	Zulima V. Farber	2006–2006
	Stuart Rabner	2006–2007
Anne Milgram	2007–2010
Commissioner of Banking and Insurance	Steven M. Goldman	2006–2009
Neil Jasey*	2009–2010
Commissioner of Children and Families	Kevin Ryan	2006–2008
Kimberly Ricketts	2008–2010
Commissioner of Community Affairs	Susan Bass Levin	2006–2007
	Joseph V. Doria, Jr.	2007–2009
Charles A. Richman*	2009–2010
Commissioner of Corrections	George W. Hayman	2006–2010
Commissioner of Education	Lucille Davy	2006–2010
Commissioner of Environmental Protection	Lisa P. Jackson	2006–2008
Mark N. Mauriello	2008–2010
Commissioner of Health and Senior Services	Fred M. Jacobs	2006–2008
Heather Howard	2008–2010
Commissioner of Human Services	Clarke Bruno	2006–2007
Jennifer Velez	2007–2010
Commissioner of Labor and Workforce Development	David J. Socolow	2006–2010
Public Advocate	Ronald Chen	2006–2010
Secretary of State	Nina Mitchell Wells	2006–2010
Commissioner of Transportation	Kris Kolluri	2006–2008
Stephen Dilts	2008–2010
State Treasurer	Bradley Abelow	2006–2007
	Michellene Davis*	2007–2008
R. David Rousseau	2008–2010
Chair/Chief Executive Officer of the Civil Service Commission	Hope L. Cooper*	2008–2010
Chief of the Office of Economic Growth	Gary D. Rose	2006–2008
Jerold L. Zaro	2008–2010
Director of the Office of Homeland Security and Preparedness	Richard L. Cañas	2006–2010
Chair/Chief Administrator of the Motor Vehicle Commission	Sharon Anne Harrington	2006–2009
Shawn B. Sheekey*	2009–2010
President of the Board of Public Utilities	Jeanne Fox	2006–2010
Superintendent of the State Police	Col. Joseph R. Fuentes	2006–2010
* Acting officeholder only.

Corzine officially declined his $175,000 salary in 2006.^[72]

After taking office in January 2006, Corzine's approval numbers were very low. Many polls seemed to indicate that much of this negative polling was a result of the protracted budget battle ahead of the 2006 New Jersey State Government shutdown in July. An April 26, 2006, poll from Quinnipiac University Polling Institute showed Corzine at a 35% approval with a 42% disapproval.^[73] A February 28, 2007, poll from Quinnipiac University showed Corzine at 50% approval with 34% disapproval.^[74] When Corzine released a controversial plan to monetize the New Jersey Turnpike and the Garden State Parkway, his approval rating fell to 30% in January 2008.^{[citation needed]}

In conjunction with this fall in approval rating, an initiative to recall the Governor was started for the first and only time ever in New Jersey history. The recall effort failed after gathering less than the required 1.2 million signatures.^[75]

Corzine had long insisted that state employees must bear part of the cost of their health benefits after retirement. As of July 1, 2007, in agreements with the Communications Workers of America, the American Federation of State, County, and Municipal Employees, and the International Federation of Professional and Technical Engineers, active State employees in those unions (as well as certain other non-union employees) are now required to contribute 1.5% of their salary to offset health care costs. State and local employees' contributions to the two largest pension systems increased by 10%, from 5% to 5.5% of their annual salaries and increased the retirement benefit age for new public employees, from 55 to 60 years.^[76] In 2008, Corzine approved a law that increased the retirement age from 60 to 62, required that government workers and teachers earn $7,500 per year to qualify for a pension, eliminated Lincoln's Birthday as a state worker holiday, allowed the state to offer incentives not to take health insurance and required municipal employees work 20 hours per week to get health benefits.^{[citation needed]}

As part of his attempt to balance the budget, Corzine decreased funding to most programs and localities including state universities and colleges. The first of these decreases came with the 2007 budget. Rutgers University and other New Jersey state universities raised tuition, cut hundreds of sections of classes, and several sports teams.^[77] With the latest decrease in funding for 2009, most state institutions have less funding than they had a decade ago. Despite the $15 million in cuts, Rutgers went ahead with previous agreed upon raises of $15 million to their executive faculty. This resulted in Rutgers making $30 million in cuts.^[78]

Corzine has been the only New Jersey governor in recent memory to make any headway in addressing the crisis of municipal funding. While not directly touching the third rail of New Jersey governance – property taxes – Corzine's reform of the school funding formula (passed and signed in January 2008) resulted in significant relief to many New Jersey towns with outsize school costs but limited tax base.^[79] The plan survived a legal challenge and was declared constitutional by the New Jersey Supreme Court on May 28, 2009.^[80]

Corzine championed expanding government health and education programs. He planned to require every resident to enroll in a health plan and have taxpayers help pick up the tab for all the welfare low- and middle-income residents. In June 2008, state legislators voted for the first phase of that program mandating health care coverage and Corzine signed it into law in July.^{[citation needed]}

Corzine spent some $200,000 of public funds on advertisements to promote a referendum on the 2007 New Jersey ballot to borrow $450 million to fund stem cell research. The referendum faced strong opposition and was rejected despite the fact that $270 million had previously been approved to build stem cell research centers.^[81]

Corzine, a death penalty opponent,^[82][83] as governor supported and presided over abolition of capital punishment in New Jersey and replacing it with life imprisonment. After the legislature passed and he signed it into law, New Jersey became the first state to legislatively eliminate capital punishment since 1965.^[84] Although the bill was not passed until late in 2007, New Jersey had not executed any criminals since 1963. Because the penalty was never used and often reversed upon appeal, it was viewed as a form of extended suffering for victims' families by some supporters of its abolition.^[85] Before the enactment of the new law, he commuted the death sentences of all death row inmates to life in prison.^[86] Corzine also has supported early New Jersey efforts at gun control.^[87]

Corzine was one of several United States Governors – including Martin O'Malley of Maryland, Mike Beebe of Arkansas, and Eliot Spitzer of New York – who were early supporters of Hillary Clinton's 2008 presidential campaign.^[88] He raised $1 million for her campaign.^[89] He, Bill Clinton, Eliot Spitzer, Chuck Schumer, and Charlie Rangel co-hosted Clinton's October 25, 2007 60th-birthday party.^[90] He remained a committed Clinton superdelegate late into the 2008 Democratic Party presidential primary season.^[91] If the Democratic National Committee had decided to recontest the Michigan and Florida primaries, Corzine and Ed Rendell were prepared to spearhead Clinton's fundraising in for those races.^[92] Towards the end of the primary season in April 2008, Corzine made it clear that although he was a Clinton supporter, his superdelegate vote would be determined by the popular vote.^[93] After her win in the April 22, 2008 Pennsylvania Democratic primary and a calculation of popular votes that excluded caucuses and included the controversial Michigan and Florida Democratic primaries, Corzine reaffirmed his support for her.^[94] Once Barack Obama became the presumptive nominee, Corzine became a prominent spokesperson for Obama's agenda.^[95]

Corzine was among a group of big (in terms of population) state governors, such as Republican Arnold Schwarzenegger, who moved his state Republican and Democratic primaries to February 5, 2008, the date of Super Tuesday, 2008.^[96][97] He was also among a group of prominent Democratic politicians (that included Ted Kennedy and Barack Obama) who received political contributions from Norman Hsu that he ended up donating to charity.^[98]

In November 2008, in response to the ongoing economic downturn, Corzine proposed an economic recovery package consisting of additional massive spending, accelerated capital improvement spending and reforms and cuts to the corporate income tax.^[99][100] As of December 2008 many elements of the plan had been approved by the Democrats in the NJ Legislature.^[101] On January 2, 2009, Corzine joined the governors of four other states in urging the federal government to provide $1 trillion in aid to the country's 50 state governments to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession.^[102]

Government shutdown

Main article: 2006 New Jersey State Government shutdown

Corzine, in attempting to pass the 2007 fiscal year budget, clashed with a few fellow state Democrats in the New Jersey General Assembly, particularly over the proposed increase of the state's sales tax from 6% to 7%. Corzine said that he would not accept a budget that did not include the sales tax increase. After the legislature failed to pass Corzine's budget by the midnight deadline of July 1, 2006, he signed an executive order^[103] that immediately closed down all non-essential state government services, such as road construction projects. Legislators failed to resolve the situation by July 4 and casinos, among other governmentally-regulated industries, closed their doors at 8:00 am on July 5.^[104] Corzine called the shutdown "deplorable", though he refused to negotiate with legislators and accept alternate plans that did not increase the sales tax. Some surmised the casino closure was an effort to encourage reluctant South Jersey legislators to break the impasse.^{[citation needed]}

After six days of state government shutdown, Corzine and Assembly Democrats agreed to raise the state sales tax to 7% with half of the 1% increase going to the state budget and the other half going to property tax relief. On July 8, 2006, the $30 billion state budget, with the sales tax agreement, passed both houses and Governor Corzine signed the budget into law ending the budget impasse.^[105]

Toll hike plan

Initially, Corzine opposed privatization of the New Jersey Turnpike.^[106] On January 8, 2008, to address ongoing structural budget issues, Governor Corzine proposed a four-part proposal including an overall reduction in spending, a constitutional amendment to require more voter approval for state borrowing, an executive order prohibiting the use of one-time revenues to balance the budget and a controversial plan to raise some $38 billion by leasing the Garden State Parkway, the New Jersey Turnpike, and other toll roads for at least 75 years to a new public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50% plus inflation every four years beginning in 2010.^[107][108] Corzine vowed to get that plan through the state legislature by March, but held off for nearly a month before releasing the details.^[109] Upon learning how the plan would work, New Jersey native residents railed against it, comparing it to using one credit card to pay off another, pointing out that it would create hardship for commuters and noting that it would actually increase the state's $32 billion debt.^{[110][111][112]} Corzine later wrote that only after the proposal was released did he discover "the harsh reality: the public intensely disliked the idea" and that, in retrospect, he "should have pressed harder to identify the most salient arguments against the plan and developed a strategy to get in front of and respond to those challenges".^[113]

Carla Katz

Corzine, who was running for the United States Senate in the spring of 1999, met Carla Katz, the then married president of Local 1034 of the Communications Workers of America (CWA), in the same apartment building where he resided in Hoboken; the CWA represents the largest number of state workers in New Jersey. As Katz later recalled, Corzine offered her a job on his Senate campaign, but she declined the offer.^[114] Corzine and the still married Katz were soon dating, and they began appearing in public as a couple in early 2002, shortly after Corzine's unofficial separation from his wife, Joanne. (The Corzines divorced the following year.) For more than two years Corzine was romantically involved and living with Katz. She lived with him at his apartment building in Hoboken from April 2002 until August 2004.^[115]

After Corzine's breakup with Katz, their lawyers negotiated a financial payout in November 2004. According to press accounts, the settlement for Katz exceeded $6 million, including cash (in part used to buy her $1.1 million condominium in Hoboken), a college trust fund to educate her children, a 2005 Volvo sport utility vehicle,^[115] and Corzine forgave a $470,000 loan he had made to Katz in 2002 to buy out her ex-husband's share of their home in Alexandria Township.^[115][116] Katz enrolled in Seton Hall University School of Law on a full scholarship in 2004. Corzine later acknowledged he had given $15,000 to Katz's brother-in-law, Rocco Riccio, a former state employee who was forced to resign after being accused of examining income tax returns for political purposes. At the time, Katz was president of the CWA Local 1034,^[117] which bargains on behalf of many state employees.^[118]

In the summer of 2005, when Corzine was running in the New Jersey gubernatorial election, news first emerged of his relationship with Katz and the money she had received. Corzine was elected governor despite the scandal. In the fall of 2006, during an impasse in contract negotiations between the Corzine administration and the state's seven major state employee unions (including the CWA), Katz contacted the governor by phone and e-mail to lobby for a renewal of the negotiations. Their relationship and the financial settlement Katz received after their breakup led to allegations of many potential conflicts of interest in labor negotiations while Corzine was governor. A state ethics panel, acting on a complaint from Bogota mayor Steve Lonegan, ruled in May 2007 that Katz's contact with Corzine during negotiations did not violate the governor's code of conduct.^[115]

Separately, New Jersey Republican State Committee Chairman Tom Wilson filed a lawsuit to release all e-mail correspondence between Corzine and Katz during the contract negotiations. On May 30, 2008, New Jersey Superior Court Judge Paul Innes ruled that at least 745 pages of e-mail records should be made public, but Corzine's lawyers immediately appealed the decision to the New Jersey Supreme Court.^[119]

Corzine won his case on appeal. On March 18, 2009, the New Jersey Supreme Court ruled it would not hear arguments in the case, effectively ending the legal battle to make his e-mails with Katz public.^[120] Corzine spent approximately $127,000 of taxpayer funds to keep the e-mails secret. Nonetheless, on August 1, 2010, The Star-Ledger published 123 of the Corzine-Katz e-mails, revealing the extent of their personal contact during negotiations over a new state government workers contract in early 2007.^[121]

Appointments

Corzine continued to serve in the U.S. Senate while running for governor, which ensured that he could resign from the Senate and appoint a Democrat as his successor if he won and allowed him to retain his Senate seat if he lost. Speculation was that he would appoint a Democrat from one of the congressional districts in New Jersey, perhaps Congressmen Rob Andrews, Rush Holt, or Frank Pallone. Corzine, once he was Governor-Elect, said on November 11, 2005, that he was strongly appointing State Senator Nia Gill to fill his vacant seat in the United States Senate. Corzine said about Gill that she was "an extraordinarily capable woman". Gill for her part told the Associated Press "I have the qualifications. If I am chosen by Jon, I am more than qualified to rise to the occasion."^[122] He strongly hinted he might appoint Governor Richard Codey although on November 23, 2005, Codey announced that he was not interested in pursuing the seat. On December 9, 2005, Corzine named his friend, who lived and lives in the same apartment building, U.S. Rep. Robert Menendez, a Democrat, to succeed him.^[123]

One of Corzine's first nominations was that of Zulima Farber as New Jersey Attorney General. She served for approximately seven months until an ethics investigation concluded that she had acted improperly by going to the location where local police in Fairview, New Jersey had stopped her boyfriend, Hamlet Gore, for driving with a suspended license and an expired vehicle registration.^[124] Corzine said he did not ask for Farber's resignation.^[124]

On February 9, 2006, after many scandals regarding financial mishandling at the University of Medicine and Dentistry of New Jersey, Corzine nominated Robert Del Tufo, the former Attorney General of New Jersey and U.S. Attorney, as chairman of the board of trustees. Corzine also nominated Oliver Quinn, Prudential Financial's vice president and chief ethics officer, as vice chairman of the board.^[125]

Corzine's commissioner of the Department of Environmental Protection and Chief of Staff, Lisa P. Jackson was nominated as the administrator of the United States Environmental Protection Agency. She was confirmed by the Senate on January 22, 2009.^[126]

Motorcade accident

On April 12, 2007, Corzine and 25-year-old aide Samantha Gordon were injured in an automobile accident on the Garden State Parkway near Galloway Township while traveling from the New Jersey Conference of Mayors in Atlantic City to Drumthwacket, his residence in Princeton, to meet with radio personality Don Imus and the Rutgers University women's basketball team.^[127]

The New Jersey State Police determined that Corzine's SUV, driven by a state trooper, was traveling in excess of 90 miles per hour (140 km/h) with its emergency lights flashing when the collision occurred.^[128] A pickup truck drifted onto the shoulder and swerved back onto the lane, and another pickup truck swerved to avoid the truck and hit the Governor's SUV, causing the SUV to hit the guardrail. The State Police reviewed roadside camera recordings and E-ZPass records to track down the driver of the truck; he was not charged with any violation.^[129][130]

Corzine and the trooper were flown by helicopter to Cooper University Hospital in Camden, a Level I trauma center. The aide was taken by ambulance to Atlantic City Medical Center. Neither the NJ State Trooper nor the aide was seriously injured, but Corzine suffered broken bones, including an open fracture of the left femur, 11 broken ribs, a broken sternum, a broken collarbone, a fractured lower vertebra, and a facial cut that required plastic surgery.^[131] The Governor was not wearing a seat belt. Friends had long said that they had rarely seen him wear one.^[132] When asked why the state trooper who was driving would not have asked Corzine to put on his seat belt, a staffer said the governor was "not always amenable to suggestion".^[133] The Superintendent of State Police has also noted that the trooper could be charged if the crash were preventable.^{[citation needed]}

By April 23, 2007, Corzine's doctors had upgraded him from critical to stable condition.^[134] He was sedated and unable to speak because of a breathing tube in his throat, and as such, was unable to perform his duties as governor. In accordance with the New Jersey State Constitution, New Jersey Senate President Richard Codey assumed the position of acting governor for the short period from April 12 until May 7, 2007. In 2005, voters had approved an amendment to the state constitution to provide for a lieutenant governor who would succeed the governor in the event of a vacancy or assume gubernatorial duties in the event of incapacitation, but that position would not be filled until 2010.^[135]

Corzine left the hospital on April 30, 2007.^[136] He returned to Drumthwacket, where he recuperated and used a videoconferencing center (installed at his expense) to communicate with legislators.^[137] He issued an apology, paid a $46 ticket for not wearing a seat belt,^[138] and he appeared in a public service announcement advocating seat belts, which opened with the words "I'm New Jersey Governor Jon Corzine, and I should be dead."^[139]

It was reported that Corzine, not taxpayers, would pay his medical bills.^[140]

Public opinion

 

Corzine Approvals

During the first months of his administration, Corzine experienced favorable approval ratings. According to a March 2006 Fairleigh Dickinson PublicMind Poll, 47% of New Jersey voters approved of the job Corzine was doing, while 16% disapproved.^[141] Peter Woolley, director of the PublicMind, noted, "the numbers are pretty good for a New Jersey governor heading full tilt into an unprecedented budget crisis."^[141] Much of the good will that was indicated by the March poll was quickly diminished, and in April 2006, a PublicMind poll showed that Corzine's approval rating had eroded to 39% while his disapproval rating increased to 36%.^[142] By July 2006, the Governor's ratings recovered to some extent from the April decline and in September of the same year it was clear that Corzine's approvals had not suffered from the summer conflict over the budget and the sales tax hike; 51% of New Jersey voters approved of the governor's handling of his job while 31% disapproved.^[143] His PublicMind poll ratings remained relatively stable and healthy through the rest of 2006 and 2007 with his average approvals at 54% and his average disapprovals at 29%.^[144]

In January 2008, prior to the State of the State address Corzine was at 48% approving 32% disapproving, according to the PublicMind poll.^[145] But another FDU PublicMind poll taken in late January, after the State of the State address, showed that governor's ratings were slipping; 41% of voters approved of the job Corzine was doing while 39% reported that they disapproved.^[146] The decline was largely in response to the governor's plan to raise tolls on the New Jersey Turnpike and the Garden State Parkway.^[147] February 2008 was not any kinder, as a PublicMind poll indicated that his numbers continued to slip with disapprovals catching up to approvals with 42% of voters approving and 43% of voters disapproving.^[148] Woolley remarked on the decline saying, "Considering the beating he has taken on his toll plan, it's remarkable that his numbers are not a good deal worse."^[148] The governor's approval ratings showed no recovery through September 2008 with his approvals and disapprovals averaging 42% and 43% respectively.^[144] Coincident with the presidential campaign, Corzine's approval ratings saw some improvement.^[144]

In January 2009 he stood at 46% approving and 40% disapproving. Woolley asserted that the governor was faring relatively well in public opinion considering "the enormous and growing pressure on the state budget and on the governor to protect various constituencies".^[149] Come March 2009, the PublicMind Poll found, "Gov. Jon Corzine's standing with the New Jersey public is suffering along with the economy," and as a result his approvals began to slip with 40% of voters approving and 43% disapproving.^[150] His approvals continued to decline in April as he contended with the budget and the financial crisis with 40% approving and 49% disapproving.^[151] At the end of his term, in January 2010, Corzine's approvals landed at their lowest point during the administration with 33% approving and 58% disapproving.^[152]

Philanthropy and academia

Corzine has been active with a number of philanthropic and civic organizations. He currently serves as a member of the International Board of Covenant House and is on the board of the New Jersey Reentry Corporation.^[153] His civic work has involved serving on the boards of several organizations in the New York-New Jersey area, including the New Jersey Performing Arts Center, the New York Philharmonic, the New York Child Study Center and the NYC Partnership.^[154] In addition, Corzine has served as co-chair of the National Commission on Capital Budgeting under President Clinton, chairman of the Treasury's Government Borrowing Committee and Chairman of the Public Securities Association.^[155]

He currently serves on the board of trustees of the University of Chicago and served as an ex-officio member of the board of trustees of Princeton University.^[156][157] Corzine was the J.L. Weinberg Visiting Professor of Public Policy at Princeton in 2010 and 2011.^[157] He currently is serving at Fairleigh Dickinson University as chairman of an advisory board that is working to establish a graduate school of public and global affairs.^[154] Corzine is also serving as a visiting lecturer on politics and public policy at Farleigh's Wroxton campus in the United Kingdom.^[158]

MF Global

See also: MF Global § Corzine's possible role in the firm's collapse

Corzine was appointed CEO and Chairman of MF Global, a multinational futures broker and bond dealer, in March 2010.^[159]

MF Global's stock price declined two-thirds in the final week of October 2011 and its credit rating was reduced making its debt high-yield debt following huge quarterly losses.^{[160][failed verification]} On October 31, 2011, trading was halted on shares of MF Global prior to the market opening, and soon thereafter MF Global announced that it had declared Chapter 11 bankruptcy. Shortly afterwards, federal regulators began an investigation into hundreds of millions of dollars in missing customer funds.^[161] Corzine resigned as CEO on November 4, 2011, after having retained the services of defense attorney Andrew J. Levander.^[162] It was reported that Corzine declined a severance package worth $12.1 million.^[163] MF Global's collapse was one of the ten biggest bankruptcies in U.S. history.^[1]

Corzine was subpoenaed to appear before a House committee on December 8, 2011, to answer questions regarding 1.2 billion dollars of missing money from MF Global client accounts. He testified before the committee, "I simply do not know where the money is, or why the accounts have not been reconciled to date," and that given the number of money transfers in the final days of trading at MF Global, he didn't know specifics of the movement of the funds. He also denied authorizing any misuse of customer funds.^[164] In March 2012, Bloomberg reported on a memo produced by congressional investigators that quoted an internal company e-mail relating to a $175 million transfer that was a subject of their investigation. Initial media reports suggested impropriety on Corzine's part, but this was later disproved. According to the New York Times, the employee responsible for the transfer emailed Corzine stating the transfer was a "House Wire", meaning it came from the firm's own account. The instructions Corzine had given were to deal with several overdrafts at JPMorgan Chase, but never related to any specific accounts or specific transfers made. A spokesperson for Corzine responded that Corzine "never directed Ms. O'Brien or anyone else regarding which account should be used to cure the overdrafts, and he never directed that customer funds should be used for that purpose. Nor was he informed that customer funds had been used for that purpose". In fact, as the New York Times reported, Corzine had been given specific assurances that the transfer in question was proper, and that no customer funds had been used. Subsequent court filings also attest to this fact. On November 5, 2013, The New York Times reported that MF Global customers would likely recover 100 percent of their funds. A spokesman for Corzine said "Mr. Corzine is very pleased that all customers will receive a full recovery. This is a great outcome, which has been anticipated for many months." Customers have since received distributions making them whole.^{[165][166][167]}

In June 2013, the Commodity Futures Trading Commission (CFTC) filed civil charges against Corzine for using funds from MF's customer accounts for corporate purposes. "Corzine is charged with one count of failure to segregate and misuse of customer funds and one count of failure to supervise diligently," a news report said. The commission drew on extensive taped Corzine phone conversations in filing the complaint. Corzine's attorney Levander issued a statement contesting the charges when they were filed.^[168]

In 2013, Corzine, and managers including Bradley Abelow and Henri Steenkamp, appealed a court ruling relating to repayments to customers of the bankrupt brokerage. A spokesman for Corzine made clear that the appeal was not an attempt to delay payments to customers, but due to a disagreement regarding how those claims would be handled by the trustee after they were paid. Corzine fully supported customers receiving 100 percent of their money and had no desire for this to be delayed. There was nothing preventing the trustee from making full distributions immediately and litigating the appeal after the fact. Ultimately all customers were paid in full.^[169][170]

On January 5, 2017, Corzine and the CFTC agreed to a settlement order requiring Corzine to pay a $5 million penalty for his role in MF Global's collapse. Corzine also agreed to be permanently barred from working for a futures commission merchant or registering with the CFTC in any capacity.^[171][172]

Electoral history

New Jersey U.S. Senate Election 2000

Party		Candidate	Votes	%	±%
	Democratic	Jon Corzine	1,479,988	50.1
	Republican	Bob Franks	1,383,474	47.1

New Jersey Gubernatorial Election 2005

Party		Candidate	Votes	%	±%
	Democratic	Jon Corzine	1,224,551	53.5
	Republican	Doug Forrester	985,271	43.0

New Jersey Gubernatorial Election 2009

Party		Candidate	Votes	%	±%
	Republican	Chris Christie	1,174,445	48.5
	Democratic	Jon Corzine (incumbent)	1,087,731	44.9
	Independent	Chris Daggett	139,579	5.8
	Republican gain from Democratic		Swing

Personal life

Corzine married his high school sweetheart,^[173] Joanne Dougherty, in 1969 at the age of 22,^[4] and their 33-year marriage produced three children – Jennifer, Josh, and Jeffrey. The couple separated in 2002 and were divorced in November 2003. Corzine's younger son Jeffrey died by suicide in Mexico on March 13, 2014 age 31.^[174]

Corzine had lived with his wife in Summit, New Jersey.^[175] After their separation, Corzine moved to a condominium apartment in Hoboken.^[176]

In April 2010, The Huffington Post announced the engagement of Corzine and psychotherapist Sharon Elghanayan (née Levine), whom he had been dating since 2004.^[177] On November 23, 2010, Corzine married Elghanayan in a ceremony presided over by Chief Justice of the New Jersey Supreme Court Stuart Rabner, according to an announcement in The New York Times. Elghanayan is a graduate of Rutgers University and New York University.^[178]

See also

•  Biography portal

• List of richest American politicians

References

Citations

1. Foley, Stephen (November 18, 2011). "What price the new democracy? Goldman Sachs conquers Europe". The Independent. London. Archived from the original on June 14, 2022. Retrieved November 18, 2011.
2. . Archived from the original on September 3, 2019. Retrieved March 29, 2020.
3. Peterson, Iver (April 9, 2000). "Around Jon Corzine's Roots, a Casual Indifference to Ethnicity". The New York Times. Retrieved July 20, 2008.
4. Gohlke, Josh (September 18, 2005). "Corzine's success had humble beginning". The Record (Bergen County). Taylorville is the sort of town where one faces an early choice between staying or leaving, and Corzine is a dramatic example of the latter. His links to the place have only dwindled further in recent years with the deaths of a close friend and his last local relative, as well as his 2003 divorce from his wife, Joanne, whom he dated at Taylorville High School.
5. Rhoads, Mark (April 13, 2007). "Gov. Jon Corzine in Critical Condition". Illinois Review (online). Illinois Review. Retrieved November 3, 2007.
6. "Jon Corzine". Phi Delta Theta. Retrieved October 6, 2017.
7. "Governor Jon Corzine". National Governors Association. Retrieved October 6, 2017.
8. "Corzine, Jon Stevens, (1947– )". Biographical Directory of the United States Congress. Retrieved July 30, 2008.
9. . The United States Congress Votes Database. The Washington Post Company. Archived from the original on August 21, 2008. Retrieved July 30, 2008.
10. . State of New Jersey. 2007. Archived from the original on December 13, 2007. Retrieved November 3, 2007.
11. Burrough, Bryan. "The Inside Story: Jon Corzine's Reckless Gamble". Vanity Fair. Retrieved February 16, 2020.
12. Church, George J. (December 21, 1998). . Time. Archived from the original on November 22, 2007. Retrieved July 17, 2008.
13. Anita Raghavan; Patrick McGeehan (January 12, 1999). "Jon Corzine Resigns as Co-CEO At Goldman Sachs to Focus on IPO". The Wall Street Journal.
14. Ben Protess (May 18, 2017). "In Tumult of Trump, Jon Corzine Seeks a Wall Street Comeback". The New York Times.
15. The President's Commission to Study Capital Budgeting, appointed in 1997, terminated September 30, 1999.[1]
16. Endlich, Lisa J. (1999). Goldman Sachs: The Culture of Success. Knopf. p. 221. ISBN 978-0-679-45080-1.
17. Greenwald, John (October 5, 1998). . Time. Archived from the original on January 11, 2005. Retrieved July 17, 2008.
18. . U.S. News & World Report. January 17, 1999. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
19. Schwartz, Nelson D. (May 12, 2010). "Corzine Starting Small in Bid for Redemption". The New York Times. Retrieved May 13, 2010.
20. "Power Play: Goldman's Hank Paulson Won the Battle to Oust Dick Grasso Over His Lavish Pay. But Will He Win the War?". Newsweek. June 7, 2004. Retrieved July 21, 2008.
21. Derer, Mike (June 7, 2000). . Time. Archived from the original on November 22, 2010. Retrieved July 17, 2008.
22. "Bilderbergers celebrate half a century of intrigue, secrecy". The New American. Vol. 20, no. 13. June 28, 2004. ISSN 0885-6540. Attendees from the U.S. this year reportedly included: Senators Jon Corzine (D-N.J.) and John Edwards (D-N.C.); ... Peter Weinberg, CEO of Goldman Sachs International; and James Wolfensohn, president of the World Bank.
23. . bilderbergmeetings.org. Bilderberg Group. Archived from the original on February 2, 2014. Retrieved February 8, 2014.
24. Roose, Kevin (2014). Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits. London, UK: John Murray (Publishers), An Hachette UK Company. p. 206. ISBN 978-1-4736-1161-0.
25. Hosenball, Mark (June 12, 2000). "The New Jersey Purchase: Jon Corzine's $36 Million Campaign For The Senate". Newsweek. Retrieved July 19, 2008.
26. Jon S. Corzine and Peter J. Woolley (Jan. 2018) "In Defense of Polls, Though Not Necessarily Pollsters, Pundits or Strategists". . 51.1: 159.
27. Richman, Josh. "Self-funded candidates say it's worth every cent" October 14, 2008, at the Wayback Machine, Oakland Tribune, June 5, 2006. Retrieved September 2, 2007. "His [Michael Huffington's] $30 million campaign—including more than three times the previous record for television ad buys—was the costliest in U.S. Senate history until New Jersey Democrat Jon Corzine spent $62.7 million of his own money in 2000."
28. Cook, Charlie (June 20, 2000). . Cook Political Report. Archived from the original on June 11, 2008. Retrieved September 23, 2009. By the time the June 6 Senate primary in New Jersey rolled around, former Goldman Sachs Co-Chairman Jon Corzine had spent a record shattering $34 million in his successful quest for the Democratic nomination. He defeated former Gov. Jim Florio 58–42 percent
29. . U.S. News & World Report. September 12, 1999. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
30. August, Melissa; et al. (November 20, 2000). . Time. Archived from the original on November 22, 2010. Retrieved July 22, 2008.
31. "The High Price Of Chutzpah: Cheney And Corzine May Be Pushing The Ethical Envelope On Conflict-Of-Interest Rules. That's More Than Daring—It's - Just Plain Galling". Newsweek. August 28, 2000. Retrieved July 19, 2008.
32. Morse, Jodie; Nadya Labi; Michel Orecklin (November 20, 2000). . Time. Archived from the original on November 22, 2010. Retrieved July 18, 2008.
33. David Brooks (December 25, 2000). "Surviving The Coming Clash: With The Left Feeling Frisky, Conservatives Need To Watch Their Step If They Want To Have Their Way. It's Time To Be Patient". Newsweek. Retrieved July 20, 2008.
34. Halbfinger, David M. (March 30, 2000). "Corzine Assailed for Joke About Italian-Americans". The New York Times. Retrieved July 29, 2008.
35. Adubato, Steve. . The Star-Ledger. Archived from the original on October 16, 2008. Retrieved July 20, 2008.
36. Ingle, pp. 62–63.
37. Jacobs, Andrew (September 20, 2000). "Black Minister Criticized for Taking Corzine's Money". The New York Times. p. B4. Retrieved August 27, 2008.
38. Glasser, Jeff (November 12, 2000). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
39. "Members of Congress: Jon Corzine". GovTrack.us. Retrieved July 30, 2008.
40. Saporito, Bill (April 1, 2002). . Time. Archived from the original on April 8, 2008. Retrieved July 19, 2008.
41. Kadlec, Daniel (December 31, 2001). . Time. Archived from the original on November 5, 2012. Retrieved July 19, 2008.
42. Kadlec, Daniel (January 13, 2002). . Time. Archived from the original on January 16, 2002. Retrieved July 19, 2008.
43. Quinn, Jane Bryant (January 21, 2002). "401(K)S And The Enron Mess: Your Retirement Plan Might Be Every Bit As Risky As Enron's. What Companies Should Do About It". Newsweek. Retrieved July 20, 2008.
44. McGinn, Daniel (February 18, 2002). "The Ripple Effect: The Enron Scandal Is Making Us Rethink The Basic Rules Of Corporate Life And Question The Greedy, Go-For-Broke Ethos Of The Long Boom". Newsweek.
45. "The Mutual Fund Scandal: Unfair Fight: Mutual Funds Were Supposed To Be The Smart, Safe Choice For Small Investors. But The Latest Scandal Shows How Wall Street Big Shots Make Profits, While The Little Guys Take A Beating". Newsweek. December 8, 2003. Retrieved July 21, 2008.
46. Lim, Paul J.; Matthew Benjamin (December 16, 2001). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
47. Gergen, David (May 15, 2005). . U.S. News & World Report. Archived from the original on July 24, 2008. Retrieved July 28, 2008.
48. . darfurscores.org. January 1, 2008. Archived from the original on November 17, 2006. Retrieved July 28, 2008.
49. Levy, Steven (May 23, 2005). "Huffington's Post: Not Yet Toast: One Writer Called it 'The Box-office Equivalent of Gigli, Ishtar and Heaven's Gate Rolled into One". Newsweek. Retrieved July 21, 2008.
50. "Pork Barrel Or A Kick-Start?: To Bolster The Faltering Economy, Our Leaders Are Throwing Open The Federal Coffers. A Little Caution Is In Order". Newsweek. October 15, 2001. Retrieved July 21, 2008.
51. "Perspectives". Newsweek. January 10, 2005. Retrieved July 21, 2008.
52. Marek, Angie C. (August 31, 2003). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
53. Marek, Angie C. (January 15, 2006). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
54. Brill, Steven (February 24, 2003). "A Watchful Eye: Politics Is Clouding The Homeland-Security Picture. The Reality And The Rhetoric". Newsweek. Retrieved July 21, 2008.
55. Marek, Angie C. (March 21, 2007). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 25, 2008.
56. Alter, Jonathan (March 26, 2001). "Thanks Ever So Much, President Poor-Mouth: Bush Pays The Price For An Unusual Decision To Speak Ill Of The Economy". Newsweek. Retrieved July 20, 2008.
57. Alter, Jonathan (November 18, 2002). "Dems In The Dumps: They Were Outmaneuvered, Outhustled And Overmatched. Can The Democrats Matter Again? A New Prescription For A Troubled Party". Newsweek. Retrieved July 20, 2008.
58. Sloan, Allen (December 23, 2002). "Adding Up The Stimulus Plan". Newsweek. Retrieved July 21, 2008.
59. Waller, Douglas (September 15, 2003). Time. Archived from the original on February 1, 2005. Retrieved July 19, 2008.
60. Waller, Douglas (July 5, 2004). . Time. Archived from the original on March 7, 2008. Retrieved July 19, 2008.
61. Tumulty, Karen (July 19, 2004). . Time. Archived from the original on November 5, 2012. Retrieved July 19, 2008.
62. Barnett, Megan; Kenneth T. Walsh (November 3, 2002). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
63. Chen, David W. (November 9, 2005). "Corzine Prevails in a Nasty Governor's Campaign in New Jersey". The New York Times. Retrieved August 27, 2008.
64. Magnusson, Paul (September 27, 2004). . BusinessWeek. Archived from the original on May 12, 2008. Retrieved August 27, 2008.
65. Samuel, Terence (August 3, 2005). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 28, 2008.
66. (PDF). Official General Election Results. State of New Jersey. December 16, 2005. Archived from the original (PDF) on August 28, 2008. Retrieved August 27, 2008.
67. Hester, Tom Jr. (June 13, 2008). . The Huffington Post. Archived from the original on June 18, 2008. Retrieved July 21, 2008.
68. "Election 2009: New Jersey Governor: Christie 42%, Corzine 40%". January 15, 2009 . Rasmussen Reports. January 15, 2009. Archived from the original on January 17, 2009.
69. Fairleigh Dickinson University PublicMind Poll, "For the Moment, Advantage Corzine". January 9, 2009.
70. "Political Surveys and Election Polls, Trends, Charts and Analysis". Pollster.com. Retrieved March 22, 2012.^{[permanent dead link]}
71. (PDF). New Jersey Division of Elections. Archived from the original (PDF) on December 29, 2009. Retrieved December 2, 2009.
72. Chen, David W. (October 4, 2006). "The Goldman Sachs Crew That's Helping Run Trenton Government". The New York Times. Retrieved July 21, 2008.
73. . Archived from the original on June 29, 2006. Retrieved June 29, 2006. (Press release). Quinnipiac University. April 26, 2006.
74. February 28, 2007 – New Jersey Governor's Approval Inches Up To New High, Quinnipiac University Poll Finds; Concern For Property Tax Also At New High September 19, 2011, at the Wayback Machine, Quinnipiac University, released February 28, 2007, Retrieved April 14, 2007.
75. Hester, Tom Jr. (July 21, 2008). "Corzine recall effort falls flat". NJ.com. Associated Press. Retrieved July 29, 2008.
76. "Citizens Guide to the Budget" (PDF).
77. "Rutgers U. Adopts Grim Budget to Deal With State Cuts" Chronicle of Higher Education, July 16, 2006; retrieved July 14, 2008.
78. "Message on FY2009 State Budget" August 28, 2008, at the Wayback Machine Rutgers: Office of the President, June 30, 2008; retrieved July 14, 2008.
79. "Governor Corzine Comments on School Funding Reform", April 28, 2009. Retrieved November 5, 2009. July 1, 2009, at the Wayback Machine
80. "N.J. Supreme Court backs Gov. Jon Corzine's revised school-funding plan" Newark Star Ledger, May 28, 2009; retrieved November 5, 2009.
81. . U.S. News & World Report. November 7, 2007. Archived from the original on September 25, 2008. Retrieved July 23, 2008.
82. "Jon Corzine on Crime". OnTheIssues.org. Retrieved July 27, 2008.
83. Halloran, Liz (April 30, 2006). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 27, 2008.
84. "Executions News and Developments: 2007". Death Penalty Information Center. 2008. Archived from the original on October 16, 2009. Retrieved July 29, 2008.
85. Von Drehle, David (December 17, 2007). . Time. Archived from the original on December 18, 2007. Retrieved July 19, 2008.
86. . Death Penalty Information Center. 2008. Archived from the original on August 14, 2019. Retrieved July 27, 2008.
87. Shute, Nancy (June 4, 2006). . U.S. News & World Report. Archived from the original on October 15, 2008. Retrieved July 27, 2008.
88. Wilson, Reid (September 5, 2007). "'08 Notes: Left Coast Edition". Time. Retrieved July 19, 2008.
89. Healy, Patrick (June 7, 2007). "Goals Are Both Met and Missed in Clinton Fund-Raising". The New York Times. Retrieved July 30, 2008.
90. Romano, Andrew (October 9, 2007). . Newsweek. Archived from the original on October 14, 2008. Retrieved July 21, 2008.
91. Dvorak, Blake (April 18, 2008). "The Morning Roundup". Time. Retrieved July 19, 2008.
92. . Time. May 13, 2008. Archived from the original on March 22, 2008. Retrieved July 19, 2008.
93. Romano, Andrew (April 4, 2008). . Newsweek. Archived from the original on August 28, 2008. Retrieved July 21, 2008.
94. Smalley, Suzanne (April 23, 2008). "What's the Magic Metric?: Here's a new kind of recount: The Clinton camp's complicated formula to make her look like the leader". Newsweek. Retrieved July 21, 2008.
95. Dunbar, John (June 22, 2008). . Time. Archived from the original on July 9, 2008. Retrieved July 19, 2008.
96. Alter, Jonathan. "New Hampshire Before New Year's?: The Front-Loading Of Primaries—Meant To Help Pick A Nominee Quickly—May Backfire". Newsweek Web Exclusive. Retrieved July 20, 2008.
97. . U.S. News & World Report. March 16, 2007. Archived from the original on October 15, 2008. Retrieved July 23, 2008.
98. Isikoff, Michael; Mark Hosenball; Evan Thomas (September 24, 2007). "With A Little Help From My Friends: The Hsu scandal sheds light on how—and why— pols bail each other out when the going gets tough". Newsweek. Retrieved July 21, 2008.
99. [2] October 18, 2008, at the Wayback Machine
100. [3] January 20, 2009, at the Wayback Machine
101. [4] December 17, 2008, at the Wayback Machine
102. . NewsFetish.com. Archived from the original on February 21, 2011. Retrieved March 22, 2012.
103. (Press release). State of New Jersey. July 1, 2006. Archived from the original on September 30, 2007. Retrieved September 23, 2009.
104. Baron, Michael; William Spain (July 5, 2006). "Atlantic City casinos forced to close: Budget standoff in N.J. halts gambling; parks and beaches affected". MarketWatch. Retrieved July 30, 2008.
105. Servetah, Stacie; Chris Dolmetsch (July 6, 2006). . Bloomberg L.P. Archived from the original on September 30, 2007. Retrieved July 30, 2008.
106. Kiviat, Barbara (October 18, 2007). . Time. Archived from the original on October 21, 2007. Retrieved July 19, 2008.
107. Schwaneberg, Robert (January 9, 2008). "Corzine seeks higher tolls, state spending freeze to reduce debt". Star Ledger. Retrieved July 29, 2008.
108. Chen, David W.; Ken Belson (January 9, 2008). "Corzine Proposes Steep Rise in Tolls". The New York Times. Retrieved July 29, 2008.
109. Samuel, Peter (February 5, 2008). . Toll Roads News. Archived from the original on September 26, 2008. Retrieved July 29, 2008.
110. Hester, Tom Jr. (February 7, 2008). "Leading Democrat, all GOP legislators reject Corzine toll plan". South Jersey News Online. Archived from the original on April 12, 2008. Retrieved July 29, 2008.
111. Lonegan, Steve (March 3, 2008). "AFP analysis of the Corzine Toll Hike Plan". Politickernj.com. Retrieved July 29, 2008.
112. "Poll finds majority don't like Corzine budget plan". NJ.com. Associated Press. March 10, 2008. Retrieved July 29, 2008.
113. Jon S. Corzine and Peter J. Woolley (Jan. 2018) "In Defense of Polls, Though Not Necessarily Pollsters, Pundits or Strategists". PS: Political Science & Politics. 51.1: 159–164.
114. Adams, Cindy (June 6, 2007). "Jon's Ex Tells All". New York Post. Retrieved July 29, 2008.
115. Kocieniewski, David; Serge F. Kovaleski (May 23, 2007). "Romance Over, Union Chief Has Corzine's Number". The New York Times. Retrieved July 23, 2008.
116. Kocieniewski, David (August 4, 2005). "Corzine Gave $470,000 Loan to Head of Union". The New York Times. Retrieved July 23, 2008.
117. (Press release). Communications Workers of America Local 1034. July 16, 2008. Archived from the original on February 2, 2001. Retrieved July 29, 2008.
118. Trymaine Lee, "Corzine Gave Money To Relative Of Friend", September 3, 2007; accessed February 22, 2014.
119. Lee, Trymaine (September 3, 2007). "Judge Rules That E-Mail by Corzine Is Public". The New York Times. Retrieved May 31, 2008.
120. "Corzine-Katz e-mails will remain private after N.J. Supreme Court ruling". The Star-Ledger. March 18, 2009. Retrieved August 3, 2010.
121. "Former N.J. Gov. Jon Corzine, Carla Katz's forbidden e-mails are revealed". The Star-Ledger. August 1, 2010. Retrieved August 3, 2010.
122. "Corzine Leaning Toward Black Woman to Take N.J. Seat in Senate". December 1, 2005.
123. Preston, Mark (December 7, 2005). "Sources: Menendez tapped for U.S. Senate seat". CNN.com. Retrieved July 30, 2008.
124. Mansnerus, Laura; David W. Chen (August 15, 2006). "N.J. Attorney General Agrees to Resign". The New York Times. Retrieved July 30, 2008.
125. "May-16-06 Governor Names New UMDNJ Board Members" December 14, 2006, at the Wayback Machine (Press release) Office of the Governor. May 16, 2006. Retrieved April 29, 2007. "These are Governor Corzine's fourth and fifth nominations to the UMDNJ Board of Trustees; he previously nominated Robert Del Tufo, Oliver Quinn and Harold Shapiro to the Board, and designated Del Tufo to serve as Chairman."
126. . Thomas.loc.gov. Archived from the original on December 5, 2010. Retrieved March 22, 2012.
127. Zebrowski, Jonathan (April 16, 2007). . Daily Princetonian. Archived from the original on October 14, 2008. Retrieved July 30, 2008.
128. . Fox News. April 17, 2007. Archived from the original on June 22, 2008. Retrieved July 30, 2008.
129. Gohlke, Josh; Nussbaum, Alex; and Young, Elise. "Driver not charged in Corzine crash" May 4, 2007, at the Wayback Machine, The Record (Bergen County), April 14, 2007. Retrieved April 16, 2007. "The driver of the red Ford pickup – located Friday night after an intensive 24-hour search – was not issued any summonses.... State police investigators located Potts at 8 pm Friday, using information from the Little Egg Harbor Township police, E-ZPass data and footage from tollbooth traffic cameras."
130. "Events Leading to the Accident". The New York Times. April 13, 2007. Retrieved July 30, 2008.
131. "Cross Country". U.S. News & World Report. April 22, 2007. Archived from the original on July 19, 2012. Retrieved July 23, 2008.
132. Chen, David W.; David Kocieniewski (April 14, 2007). "Corzine Facing Severe Hurdles in Intensive Care". The New York Times. Retrieved July 30, 2008.
133. . WPVI. April 13, 2007. Archived from the original on June 29, 2011. Retrieved July 30, 2008.
134. Kocieniewski, David; Lawrence K. Altman (April 24, 2007). "Gov. Corzine Is Moved From Intensive Care". The New York Times. Retrieved July 30, 2008.
135. Cooper, Michael. "Crash Adds Uncertainty to New Jersey Politics", The New York Times, April 15, 2007, Retrieved April 19, 2007. "New Jersey voters agreed in 2005 to create the position of a lieutenant governor who would serve if a governor stepped down or could not serve, but the position will not be created until 2009."
136. . Time. May 3, 2007. Archived from the original on October 31, 2007. Retrieved July 19, 2008.
137. Chen, David W. (April 30, 2007). "Corzine to Make Early Exit From Hospital Monday". The New York Times. Retrieved July 30, 2008.
138. Moroz, Jennifer "Corzine asks for seat-belt fine, gets it", The Philadelphia Inquirer, May 2, 2007. Retrieved May 3, 2007 May 4, 2007, at the Wayback Machine
139. Bevan, Tom (May 25, 2007). "I'm Jon Corzine, and I Should Be Dead". Time. Retrieved July 19, 2008.
140. "Corzine will pay all medical bills, aide says". The Star-Ledger. April 27, 2007. Retrieved January 24, 2009.
141. "President Tanks; Governor has Good Will Heading into Budget System" (Press release). Fairleigh Dickinson University PublicMind Poll. March 8, 2006.
142. "2006 Survey of Budget Proposals" (Press release). Fairleigh Dickinson University PublicMind Poll. April 4, 2006.
143. "Corzine Shakes Off Sales Tax" (Press release). Fairleigh Dickinson University PublicMind Poll. August 31, 2006.
144. "Key Questions: Corzine Summary". Fairleigh Dickinson University PublicMind Poll.
145. "Public Hasn't Taken a Toll on Corzine – yet". (Press release). Fairleigh Dickinson University PublicMind Poll. January 7, 2008.
146. "Governor's Toll Proposal a Drag" (Press release). Fairleigh Dickinson University PublicMind Poll. January 30, 2008.
147. "Toll Plan Puts Public Opinion on Wrong Track" (Press release). Fairleigh Dickinson University PublicMind Poll. January 7, 2008.
148. "Voters Say Cut Spending" (Press release). Fairleigh Dickinson University PublicMind Poll. February 25, 2008.
149. "For the Moment Advantage Corzine" (Press release). Fairleigh Dickinson University PublicMind Poll. January 9, 2009.
150. "Corzine, Like Economy, Lags in New Jersey" (Press release). Fairleigh Dickinson University PublicMind Poll. March 4, 2009.
151. "Budget Battles Corzine, Still Behind Christie" (Press release). Fairleigh Dickinson University PublicMind Poll. April 7, 2009.
152. "Corzine Leaves and Era of Bad Feeling" (Press release). Fairleigh Dickinson University PublicMind Poll. January 12, 2010.
153. "Jon S. Corzine". Covenant House. Retrieved October 12, 2017.
154. . SALT. Archived from the original on October 13, 2017. Retrieved October 12, 2017.
155. . Financial Industry Regulatory Authority. June 26, 1997. Archived from the original on October 13, 2017. Retrieved October 12, 2017.
156. "Honorary and Emeritus Trustees". University of Chicago. Retrieved October 16, 2017.
157. "Former Gov. Jon Corzine appointed Princeton visiting professor". Princeton University. March 23, 2010.
158. "Corzine, in Comeback Mode, Teaching College Students in UK". The New York Observer. July 12, 2017.
159. (Press release). MF Global. March 23, 2010. Archived from the original on March 29, 2010. Retrieved March 23, 2010.
160. Spicer, Jonathan; Bansal, Paritosh (October 30, 2011). "MF Global seeks sale, hires restructuring advisers". Reuters. from the original on September 5, 2015. Retrieved July 1, 2017.
161. Protess, Ben; De La Merced, Michael J.; Craig, Susanne (October 31, 2011). "Regulators Investigating MF Global for Missing Money". The New York Times.
162. Lattman, Peter (November 4, 2011). "Corzine Is Said to Hire Criminal Lawyer". The New York Times. Retrieved November 8, 2011.
163. Wagner, Daniel (November 3, 2011). "CEO Corzine steps down at MF Global, rejects $12 million severance". Asbury Park Press. Retrieved November 3, 2011.^{[dead link]}
164. Gordon, Marcy (December 8, 2011). "Corzine: 'I simply do not know' where MF Global money is". USA Today. Retrieved December 8, 2011.
165. Ben Protess; Azam Ahmed (March 25, 2012). "E-Mail to Corzine Said Transfer Was Not Customer Money". The New York Times Dealbook.
166. Mattingly, Phil; Brush, Silla (December 8, 2011). "MF's Corzine Ordered Funds Moved to JP Morgan, Memo Says". Bloomberg. Retrieved April 3, 2012.
167. Protess, Ben (November 5, 2013). "MF Global Customers Will Recover All They Lost". The New York Times Dealbook.
168. Patel, Sital S., and Ronald D. Orol, "Corzine knowingly directed customer fund use in MF Global’s final days, complaint says" July 1, 2013, at the Wayback Machine, MarketWatch, June 27, 2013. Link to the CFTC complaint. Retrieved June 28, 2013.
169. Protess, Ben (April 3, 2014). "MF Global Customers to Be Paid Back in Full". The New York Times Dealbook.
170. Kary, Tiffany (November 20, 2013). "Corzine Appeals Ruling Allowing Full MF Global Repayment". Bloomberg News. Retrieved December 9, 2013.
171. "Federal Court in New York Orders Jon S. Corzine to Pay $5 Million Penalty for his Role in MF Global's Unlawful Use of Nearly $1 Billion of Customer Funds and Prohibits Corzine from Registering with the CFTC in any Capacity or Associating with an FCM". U.S. Commodity Futures Trading Commission.
172. Stempel, Jonathan (January 5, 2017). "Corzine settles with CFTC over MF Global collapse, to pay $5 million". Reuters. Retrieved January 5, 2017.
173. Carlson, Margaret (June 19, 2000). . Time. Archived from the original on November 22, 2010. Retrieved July 17, 2008.
174. . Latino Fox News. March 14, 2014. Archived from the original on March 15, 2014. Retrieved March 16, 2014.
175. Westfeldt, Amy. , Associated Press, July 27, 2000, Retrieved April 23, 2007. "Corzine, who lives in Summit, has been at Christ Church, an interdenominational mix of Baptist and United Church of Christ, for more than 20 years ..."
176. Kocieniewski, David; McGeehan, Patrick (November 2, 2005). "Corzine's Mix: Bold Ambitions, Rough Edges". The New York Times. Retrieved July 29, 2008.
177. Weiner, David (April 16, 2010). "Jon Corzine Engaged To Sharon Elghanayan". The Huffington Post. Retrieved April 30, 2011.
178. "Sharon Elghanayan, Jon Corzine". The New York Times. November 26, 2010. Retrieved April 30, 2011.

Sources

• Ingle, Bob (2008). The Soprano State. New York: St. Martin's Press. ISBN 0-312-36894-1.
• "Democrats score big". (November 10, 2005). New Straits Times, p. 29.
• Newmarker, Chris (November 5, 2005). "N.J. Governor's Race Hits New Lows". Associated Press.
• May 10, 2006 The Brian Lehrer Show

Further reading

• Koppenheffer, Matt; Reeves, John; McCluskey, Molly; Beyers, Tim; Dumortier, Tim (2012). The Astonishing Collapse of MF Global. Better World Books (Mishawaka, IN). ISBN 978-1-892547-03-3.

External links

 

Wikimedia Commons has media related to Jon Corzine.

 

Wikiquote has quotations related to Jon Corzine.

• official campaign website
• Biography at the Biographical Directory of the United States Congress
• Financial information (federal office) at the Federal Election Commission
• at SourceWatch
• The Deal He Made, Craig Horowitz, New York Magazine, July 10, 2005
• Appearances on C-SPAN

Business positions
Preceded by Steve Friedman	Chair of Goldman Sachs 1994–1998	Succeeded by Henry Paulson
	Chief Executive Officer of Goldman Sachs 1994–1998
Preceded by Alison Carnwath	Chair of MF Global 2010–2011	Position abolished
Preceded by Bernard Dan	Chief Executive Officer of MF Global 2010–2011
Party political offices
Preceded by Frank Lautenberg	Democratic nominee for U.S. Senator from New Jersey (Class 1) 2000	Succeeded by Bob Menendez
Preceded by Patty Murray	Chair of the Democratic Senatorial Campaign Committee 2003–2005	Succeeded by Chuck Schumer
Preceded by Jim McGreevey	Democratic nominee for Governor of New Jersey 2005, 2009	Succeeded by Barbara Buono
U.S. Senate
Preceded by Frank Lautenberg	U.S. Senator (Class 1) from New Jersey 2001–2006 Served alongside: Robert Torricelli, Frank Lautenberg	Succeeded by Bob Menendez
Political offices
Preceded by Richard Codey	Governor of New Jersey 2006–2010	Succeeded by Chris Christie
U.S. order of precedence (ceremonial)
Preceded by Ted Kaufman as Former US Senator	Order of precedence of the United States	Succeeded by Jeffrey Chiesa as Former US Senator