Former NYSE Chairman Dick Grasso Tells Fox Business Network That Jon Corzine is "An Honorable Man and Dedicated Public Servant"

Former NYSE Chairman Dick Grasso spoke to FOX Business Network's (FBN) Neil Cavuto about the investigation into MF Global and CEO Jon Corzine on allegations of misusing customer funds. Grasso said that he knows Corzine as “an honorable man and a dedicated public servant, and man who I can't imagine would condone the use of customer segmented funds.” He went on to say that while people “should not jump to conclusions” about any illegal activity within the firm, “anyone who did that will and should be prosecuted.” Excerpts from the interview are below, courtesy of Fox Business Network. On the allegations that Jon Corzine's MF Global misused customer funds: “There has been a terrible tragedy in MF Global. He bet the wrong way and you have to be enormously critical of his bet, but let's not jump to conclusions about customer segmented funds. Anyone who did that will and should be prosecuted. If in fact Jon Corzine, who I know, and I know him as an honorable man and a dedicated public servant, and man who I can't imagine would condone the use of customer segmented funds- I doubt it. Let's separate stupidity from illegality. I can't believe Jon would even condone something illegal. If he did, he should be prosecuted to the full extent of the law.” On whether the allegations against Corzine are characteristic of Goldman Sachs employees: “Let's not condemn that firm. Some of the most profitable, bestly managed companies go to Goldman Sachs for advice because they have extraordinary talent. There are some wonderful people at Goldman Sachs. You don't condemn and entire firm by the actions of a few.”