“Jon Corzine who lost $1.2 billion of investors’ money on Wall Street was Obama’s advisor on the stimulus.”

Claim: “Jon Corzine who lost $1.2 billion of investors’ money on Wall Street was Obama’s advisor on the stimulus.”

Ad(s): Obama’s Wall Street  (originally aired beginning in February 2012, updated May 2012 with no correction to this claim)

Sponsor(s): American Future Fund

Air Dates: May 14-19, 2012

Total Estimated Spending On This Claim:  $908,457 ($1,816,914 Total)

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Factcheck.org Summary: Corzine is a true Wall Street executive, but the TV ad goes too far in claiming Corzine was “Obama’s adviser on the stimulus.” Corzine, who endorsed Hillary Clinton for the Democratic nomination in 2008, was one of several people consulted by Obama’s campaign on the economy during the general election. But in 2009, Corzine was preoccupied with reelection, which he lost. Obama’s economic team was headed by Geithner and included Christina Romer, chair of the Council of Economic Advisers, and Lawrence Summers, director of the National Economic Council. Romer, Summers and Peter Orszag, the director of the Office of Management and Budget, were the main players in shaping the stimulus bill, as detailed by the New Yorker magazine. Click here to read more