Tags: corzine | bank | of | america

Corzine Maybe New Bank of America Chief

By Gene J. Koprowski   |   Friday, 13 Nov 2009 11:17 AM

Soon-to-be former governor of New Jersey Jon Corzine — rejected by voters just last week — is already working his contacts in the Obama administration and may be named as the new Chief Executive Officer (CEO) of Bank of America, reports Charlie Gasparino, on-air editor at CNBC.

“This is careening out of control. There’s a rumor that the board is thinking of asking Jon Corzine if he wants the job,” Gasparino said on CNBC.

“I went to both Corzine’s people and Bank of America’s people. They said no comment. He’s a Democrat and there’s a Democratic administration. So, politically this is not a dumb choice. They won’t deny the Corzine thing.”

Corzine is a millionaire and a former Wall Street player who surprisingly won the governor’s mansion in Trenton four years ago and served before that in the U.S. Senate.

He was an executive at Continental Bank in Illinois, and was Chairman of Goldman Sachs before entering politics. Gasparino speculates that an insider, ultimately, may be chosen.

“I wish they would deny it and tell me it’s not true,” says Gasparino.

The business journalist said that the news of the courting of Corzine is making the rounds in Manhattan executive offices.

“It’s bouncing around executive suites — this is not a water cooler thing,” said Gasparino. “They are having a hard time finding an outsider, though.”

Gasparino noted that the job might be easy to get for someone like Corzine, for whom President Obama campaigned repeatedly, to no avail, since Bank of America is today partially owned by the U.S. government because of the Troubled Asset Relief Program (TARP) bailout.

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