The NYT reports this morning that Jon Corzine, the New Jersey governor and former Goldman Sachs chief executive, is no longer wealthy enough to pay for his own political campaigns.

Mr. Corzine, 62, famously spent $60 million of his own money on a record-shattering Senate race in 2000, then $43 million more laying siege to Trenton four years ago.

But now, after a costly divorce and a steep decline in his net worth, Mr. Corzine, the onetime chief executive of Goldman Sachs, is in the unfamiliar position of seeking donations to help foot the bill for his campaign.

It is not the easiest sell.
“It used to be a hiccup for him,” said Jennifer A. Steen, a political scientist who has studied self-financed political candidates. “But if you’re only worth $100 million, then it actually is a chunk of change.”

Maybe he should have stayed at Goldman Sachs.

 --Isaac Chotiner