Jon Stewart on Jon Corzine's Debt Problem


Jon Stewart has found a way to explain "the corporate-government-industrial complex in all its clusterfuck-itude" to ordinary Americans: the tale of former New Jersey governor and Goldman Sachs head Jon Corzine, who recently resigned as head of financial firm MF Global after it declared bankruptcy. Corzine had leveraged the firm's equity at a rate of 40 to 1 – even worse than Lehman Brothers' 30 to 1. "Politician Jon Corzine saw Lehman Brothers as a cautionary tale," said Stewart, yet "financial firm honcho Jon Corzine saw it as a dare." He simply wasn't able to "resist the sweet nectar of the private sector," he concludes. Watch the Daily Show host skewer Corzine's hypocrisy below.

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