Corzine and Enron

Enron is a dirty word when it comes to business ethics …

So Chris Christie today tried to link Gov. Corzine with Enron by claiming that Corzine, while an executive with Goldman Sachs, lobbied and got a tax loophole that helped Enron claim debt as equity.  Christie said the tax change helped Goldman net a $69 million profit from a trade involving Enron.

More than once, Christie said Corzine has a “trader’s” mentality, which works on Wall Street, not State Street.

He kept on calling Corzine a “trader,” although there were times it sounded like “traitor.”  🙂

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About fsnowflack
Fred Snowflack was editorial page editor and a political columnist for the Daily Record of Morristown for almost 12 years. He has won numerous awards for editorial and column writing from the New Jersey Press Association and has written a blog on county and state politics for the last three years. He lives in Ledgewood in Morris County.

2 Responses to Corzine and Enron

  1. P says:

    Christie’s job from here to election day is to remind voters that Jon Corzine is intimate with the three areas that have caused NJsians the most pain – Trenton, Washington DC and Wall Street.

    The front page story in today’s WSJ – Goldman’s Trading Tips Reward Its Biggest Clients will only remind voters how powerful types on Wall St have taken advantage of the average American in so many ways. And which of the two candidates was a major player on the Street, in fact the head of Goldman Sachs – soon-to-be-former Governor Corzine!

  2. P says:

    Looks like the anti-Wall Street them continues –

    Christie brings up Lehman in new web ad
    by Matt Friedman, PolitickerNJ.com Reporter

    Republican gubernatorial candidate Chris Christie equates Gov. Jon Corzine to “Wall Street” villain Gordon Gecko in a web ad released today.

    In the ad, Christie picks up state Sen. Joseph Pennacchio’s (R-Montville) crusade against the State Investment Council for putting pension funds in Lehman Brothers months before its collapse, costing the fund about $118 million. Three members of the council – W. Montgomery Cerf, Jose Claxton and Erika Irish Brown – were once employed by Lehman.

    The ad, which is bookended by Gecko’s (Michael Douglas) “greed is good” speech, contrasts Corzine’s own ads that tout his foresight in seeing the global economic crisis coming to the Lehman investment. It is another facet of the Christie campaign’s strategy to paint Corzine as an out of touch Wall Street tycoon, which was intensified after Christie faced two weeks of bad pres regarding a $46,000 loan he gave to a former subordinate in the U.S. Attorney’s office and the revelation that he had conversations with Bush advisor Karl Rove about running for governor while still U.S. Attorney.

    ===

    Christie needs to stick to three main issues –

    NJ is a financial basket case and the wizard of Wall Street helped get us here
    NJ is an ethical mess and Corzine has broken all his promises to get tough on corruption
    Four more years of the above will move us into California territory – Time for Corzine to Go.

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