Ad links MF Global failure with Obama economic policy

An online political ad attempts to link MF Global’s failure under Jon Corzine’s leadership with the Obama administration’s economic policies.

The ad was launched by Strong New Jersey, a group founded by former Republican Congressional candidate Diane Gooch. It shows video of President Barack Obama and Vice Joe President Biden talking about getting economic advice from Corzine when he was New Jersey’s governor.

The ad might have some effect on the presidential campaign, said Fairleigh Dickinson political science professor Peter Woolley.

“Especially if the economy is still very slow or getting worse and especially if the Republicans nominate somebody who is acceptable to independents,” he said.

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Montclair State University political science professor Brigid Harrison said the ad is not likely to sway anyone.

“Democrats are going to dismiss it,” she said. “Republicans are going to say, ‘Yeah, yeah this is clearly evidence of this kind of larger ineptitude that is taking place.'”

Last week, Corzine told a congressional panel he disputes an allegation that he knew about customer money that may have been transferred to a European affiliate just before MF Global collapsed.

About $1.2 billion of client money disappeared when the brokerage firm filed for bankruptcy. Corzine, also a former Democratic senator, stepped down as the firm’s CEO last month.


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