Jon Corzine MF - MF Global That Is

From an article titled "2011′s Executive Compensation Highlights (and Lowlights)" by Daniel Gross on Yahoo! Finance

What the MF? Jon Corzine, former Goldman Sachs top dog, former Senator, former New Jersey Governor, was already a very rich man before he joined financial services firm MF Global as CEO. But he aimed to increase his fortune further by having MF Global put on insanely leveraged trades on European sovereign debt. The trades, of course, blew up in his face, plunged MF Global into bankruptcy, and have launched a slew of investigations. As Leder point outs, it's possible that Corzine's attention in the spring of 2011 was somewhat diverted. As a filing detailed, Corzine was spending time. . . . renegotiating his compensation package.

Months before the company blew up, MF Global agreed to pay Corzine a $1.5 million retention bonus on March 31, 2014 (or whenever he left the job), provided he didn't quit without a good reason or get fired for cause. And, Footnoted.com noted, a
broadly written escape clause would have allowed him to receive at least partial payment if he quite without 'good reason.' If only Corzine had paid as much attention to the billions of dollars MF was handling as he was to the paltry million or so he was haggling over.

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