Jon Corzine avoids charges

It always seemed a inevitable that there was never a chance that former MF Global CEO Jon Corzine would be criminally charged over his failed stewardship of the firm.

Corzine ran the firm into the ground in about as reckless fashion as possible and deserves all the contempt that has been heaped upon him. Yet the prosecutors have to ask whether he committed any actual crimes as he went about this. And the answer at this point, after a thorough investigation, is no, as noted by the New York Times.

There may be other ways he might be held accountable, but he will not be going to jail because of anything he did at MF Global. In fact, he is in a position to put other people in jail. Surprisingly enough, prosecutors want to talk to him about the actions of others at the firm, notably Edith O'Brien, an assistant treasurer whom prosecutors once hoped would testify and provide the goods on Corzine.

O'Brien was central to the transfer of funds at issue. She sought full immunity and was apparently denied. There's a lot going on behind the scenes, but it now appears her gambit has failed. She just might be the only person charged in this mess, though Corzine is reportedly not of a mind to provide damning testimony.

In the end, it's likely that no one will be criminally charged.  

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