Former MF Global Employees Take Out Frustrations On A Jon Corzine Pinata

By Chuck Sudo in News on Jan 11, 2012 11:25PM

Usually when people are laid off or lose their jobs, they commiserate and trade war stories over drinks, because that's what's called for, to be honest.

But when those laid off are former employees of MF Global? Not even Malort would be enough to drink the blues away. Former employees of MF Global decided instead to take their frustrations out on CEO Jon Corzine, the former Goldman Sachs chair who's at the center of a scandal where MF Global filed for bankruptcy protection in October, six days after posting a $191 million loss related to trading on European government bonds.

The former MF Global employees gathered for a holiday party Dec. 29 and took their frustrations out on Corzine in the form of a star-shaped pinata decked out with photos of their former boss. In a sign that they hadn't lost their sense of humor, when the pinata broke, it rained slips of paper with "IOU" written on them. Thankfully they didn't take the joke further and shaped the pinata like an SUV.

Corzine is the defendant in nine lawsuits filed in a Manhattan federal court related to the MF Global scandal, and has been subpoenaed to testify before Congress. last month CME Group announced it would close its charitable arm as a result of the MF Global scandal and gave the full $50 million in the CME Trust to the company.