tag:blogger.com,1999:blog-3247350212550914879.post5545060757191910931..comments2024-03-04T15:59:34.907-07:00Comments on Frankenstein Government: The United States of Corruption, More Banker Lawlessness, MF Global and Jon Corzine's Testiphony*UpdatedBrianhttp://www.blogger.com/profile/11009623520148094685noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3247350212550914879.post-78761063533682952392011-12-09T18:53:38.668-07:002011-12-09T18:53:38.668-07:00As I recall, didn't some amount in the billion...As I recall, didn't some amount in the billions completely disappear in the 2008 financial fiasco, also? Someone is making out like a bandit. Easy to think Soros, but no way to tell. The entire scene these days is as if out of some Ian Fleming novel, except we don't have Bond to save the day or MI6 to stay on the case. You are correct that Corzine should have been in jail and still in jail while an investigation of epic proportions ensues. But Holder is in charge of justice? (that is a bad joke.) and where is the SEC?? Where are the defenders of law?Cheryl Passhttps://www.blogger.com/profile/01894307477506374497noreply@blogger.comtag:blogger.com,1999:blog-3247350212550914879.post-49152703820924647222011-12-09T07:10:50.355-07:002011-12-09T07:10:50.355-07:00Jon Corzine Dodges the Fraud Question
It's a...Jon Corzine Dodges the Fraud Question <br /><br />It's as if Jon Corzine's PR machine is in top spin mode. You'll recall Jon Corzine is the former head of Goldman Sachs and former CEO of MF Global that appeared in front of Congress yesterday to answer questions about an estimated $600 million to $1.2 billion in missing money from the segregated accounts of customers of MF Global.<br /><br />Yesterday and today, I heard confusion about whether or not MF Global's diverting customer funds was allowable and the possibility that customers will eventually get the money back.<br /><br />Let me be clear. The diverting of customer funds from segregated accounts is not legal or allowable, and even if the money is later "found" it is fraud.<br /><br />Jon Corzine was a bond trader in his past life and he says he doesn't know where the money is and that he didn't understand the details of the operations of MF Global, which appear to be a mess due to negligence or intent. <br /><br />Instead of unwinding the trades, it appears that MF Global illegally wired money from customer accounts to satisfy margin calls on MF Global's trades. If that illegal activity happened, Corzine as a bond trader aware of risk and as the head of MF Global, knew it or should have known it. This should be the focus of Congress' investigation. Wire fraud is a federal crime.<br /><br />http://www.huffingtonpost.com/janet-tavakoli/jon-corzine-dodges-the-fr_b_1138625.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3247350212550914879.post-78078022568608106152011-12-09T01:55:16.150-07:002011-12-09T01:55:16.150-07:00Well, Mr. Madoff may have a differing opinion. Get...Well, Mr. Madoff may have a differing opinion. Getting back to Mr. Corzine, what a piece of drek testimony today. This guy, one of the Masters of the Fucking Universe, got up there and admitted that he was clueless about his own gig. What's next for him? 2012 is an election year. We will see.rawmusehttps://www.blogger.com/profile/09717645009574079064noreply@blogger.com