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Former Goldman Sachs CEO supports Elizabeth Warren

ELIZABETH, NJ: Democratic presidential hopeful Hillary Rodham Clinton and then-New Jersey Gov. Jon Corzine embrace after Corzine endorsed her candidacy outside Elizabeth City Hall April 2, 2007 in Elizabeth, New Jersey. (Photo by Chris Hondros/Getty Images)

Wall Street Democrat Jon Corzine would support Sen. Elizabeth Warren (D-MA) as a potential vice president pick for Hillary Clinton, the former New Jersey governor and past Goldman Sachs co-CEO told Yahoo Finance.

Earlier this week, Politico reported that some Wall Street donors have threatened to stop giving money to the Clinton campaign if Warren is selected as her running mate. Some of the donors Politico interviewed are opposed to Warren because of the anti-Wall Street populism she’s established in the Democratic party.

Corzine, a Hillary Clinton friend and supporter, disagreed during a conversation with Yahoo Finance on Tuesday evening on a New York City sidewalk. He said that he really liked Warren as a choice and thought that it would be a great ticket. Records show that he's contributed a total of $50,000 to a Clinton-affiliated super PAC last year.

Corzine's comments might sound surprising coming from someone with deep Wall Street investment banking roots.

Warren, who endorsed Clinton earlier this month, has made a name for herself for being critical of Wall Street.

Corzine spent 24 years at Goldman Sachs, becoming the youngest person to ever be named senior partner. He later served as the co-CEO of the bank from 1994 until 1999 when he abruptly stepped aside following a power struggle, leaving Hank Paulson as the bank’s sole CEO.

He then transitioned into politics, running for the open New Jersey senate seat. He served in the US Senate from 2001 until 2006. He then served one term as New Jersey governor.

Following his defeat for reelection to Chris Christie, Corzine took the helm at MF Global in 2010 with the intention of growing it from a small futures and derivatives broker-dealer to a major Wall Street investment bank. By October 2011, MF Global filed for bankruptcy and laid off 1,066 employees after Corzine had authorized a bad $6 billion bet on European sovereign debt. He faced allegations that nearly $1 billion in customer funds were unlawfully misused. There’s still pending MF Global litigation.

Since MF Global's collapse, Corzine has remained largely out of the media spotlight. He did, however, give a speech to students at Fairleigh Dickinson University's Madison, New Jersey campus late last year about success and failure. This fall, he will be teaching a course on populism there.



Julia La Roche is a finance reporter at Yahoo Finance.

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