The Takeaway

New Leads on Missing MF Global Funds

Thursday, December 15, 2011

The House Commodity Futures Trading Commission's review of MF Global are getting closer to finding out where 1.2 billion dollars of investor's funds went. Former Chief Executive John Corzine has testified he does not know where the funds went, and was unaware that any customer money was missing until October 30th of this year. The now bankrupt brokerage firm made a 6.3 billion dollar bet on European sovereign debt.

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The Brian Lehrer Show

Corzine's Catastrophe

Friday, December 09, 2011

Bloomberg Businessweek reporters Matthew Leising and Christina Alesci talk about former Governor Jon Corzine's actions at MF Global and his testimony yesterday before a congressional panel, plus the latest from Europe. 

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It's A Free Country ®

Christie Gets Down to Business With NJ Unions

Thursday, March 10, 2011


After months of riding a national tidal wave of media attention for his battle with organized labor and waste in government spending, Christie now has to get down to the task at hand when his team meets tomorrow with representatives of the state's public worker unions.

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Transportation Nation

ARC Tunnel's Launch - What A Difference A Year Makes

Wednesday, October 06, 2010

(photo courtesy of TriState Transportation Campaign)

(Kate Hinds, Transportation Nation)

"These are the bold projects that in the past, were either debated to death or simply ignored."

That's Federal Transit Administrator Peter Rogoff, speaking at the June 8, 2009 ARC tunnel groundbreaking in North Bergen, New Jersey.

What a difference a year makes. Today, officials around the region are awaiting formal word that the $8.7 billion tunnel is dead, and that NJ Governor Chris Christie will revert NJ's $2.7 billion to its transportation trust fund, mostly for roads. We can't afford the overruns, Christie has said. It's time for belt-tightening.

But this is now.

In the tape below -- from only 16 months ago -- you'll hear a host of hopeful and optimistic politicians, including then-Governor Jon Corzine, U. S Senators Lautenberg and Robert Menendez, and others referring to the ARC tunnel as a monumental boon for the region. It would be America's largest public work, a cousin to the 1910 Pennsylvania Railroad's trans-Hudson tunnel (which marked the last time a trans-Hudson tunnel was built). It was described as a project that was critical not only to the region's economy, but safety as well. It would relieve congestion on all modes, reduce carbon emissions, and improve family life (no kidding!) The tunnel was nothing less than the start of a new era.

ARC groundbreaking Part 1

Here's another tip that you're listening to a different time: at ten minutes and 30 seconds into Part 1 of the groundbreaking below, you'll hear Governor Corzine talking about how both Democrats and Republicans from both states came together to make the project happen. "It's been bipartisan, something that we all have worked on," he said. "Governors [George Pataki]
[Eliot] Spitzer, [David] Paterson, all pitched in." Other speakers: at 14:30, you'll hear Senator Lautenberg; and at 21:50 Senator Robert Menendez speaks. (Even so, the crowd at the groundbreaking was overwhelmingly Democrats.)

ARC groundbreaking Part 2

Peter Rogoff, the head of the Federal Transit Administration, begins speaking at :43 in. "These are the bold projects that in the past, were either debated to death or simply ignored." Other speakers: at 9:30 the (now outgoing) chairman of the Port Authority of New York and New Jersey, Anthony Coscia, begins speaking. Executive Director Chris Ward starts at 14:26 . Congressman Albio Sires is 16:47, and Congressman Bill Pascrell concludes at 18:58, with "this is a happy day for all of us. You've heard all the biblical things today. It is time to move on!"

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The Takeaway

Helping Hand: President Obama in New Jersey

Friday, July 17, 2009

President Obama campaigned in New Jersey yesterday, but not for himself. He was out supporting New Jersey Gov. Jon Corzine, who faces a tough re-election bid. Come November, Corzine will be the only incumbent Democratic governor in the nation to face voters and the results could be a barometer of the nation's approval of the president. WNYC reporter Bob Hennelly was there in New Jersey.