Has anything changed in banking regulation since the crisis of 2008?
Consider the case of MF Global Holdings Ltd., a New York-based securities firm that filed for bankruptcy protection on Oct. 31 after disclosing sizable exposure to derivatives and other investments related to billions of dollars in European sovereign debt. The firm was headed by Jon S. Corzine, a former CEO of Goldman Sachs who was subsequently elected U.S. Senator and, later, Governor of New Jersey. After losing his gubernatorial re-election campaign to Chris Christie in 2009, Corzine returned to banking as CEO of MF Global.
In this video clip, “Daily Show” host Jon Stewart compares and contrasts the positions and behavior of Jon S. Corzine, the politician, with Jon S. Corzine, the banker.