Tming is everything in financial markets.— Among the many lessons to take from former New Jersey Governor and banker Jon Corzine’s fall from grace….or Consider your position when the music stops.

If Corzine had merely delayed his forays into euro-zone markets, he might now be celebrated as a hero by shareholders of MF Global rather than hounded by their lawyers. That hypothetical helps put into perspective the profound shift in investor sentiment now sweeping through Europe.

MF Global’s bankruptcy in October 2011 was triggered by a panicked rout in Italian bonds, in which Corzine had concentrated most of a $6.3 billion bet he’d built up in euro-zone debt over the preceding year. Yet if he had placed that same bet a month later, MF Global’s Italy play may well have gone down as a truly savvy bet.

…..read more HERE

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