Last week, a court approved a settlement deal among commodities firm MF Global’s bankruptcy trustees that will reimburse its customers for 93 percent of the value of their accounts, from which about $1.6 billion had disappeared during the firm’s bankruptcy. But even if they eventually see 100 percent of their funds returned, the firm’s misappropriation of customer funds under the leadership of Jon Corzine will remain a shocking example of financial malfeasance. It looks like Corzine could have gotten away with the crime of the century. If you aren’t familiar with Jon Corzine, he is the man
Obama´s big thing coming intooffice was to crack down on wall st crooks who caused the 2008 meltdown.This gave him the excuse to pass Frank/Dodd but somehow Corzine escaped all of obama´s tough new regs that supposedly would stop this. What Corzine did was pure criminality and he should be Madoff´s cellmate but being friends of Obama trumps everything. Obama actually accepted Corzine´s fundraising bundles while he was under investigation,add that crime to the list.
There´s 1000´s of other Corzines working in the financial markets ripping investors off and they´re not worried because Obama won´t prosecute them.
Where did Corzine get the money to pay these investors back?
Why would Corzine bet the farm on European sovereign debt when everybody else could see them in a coming financial meltdown?
Reply 7 - Posted by:
Country Boy, 2/5/2013 7:06:44 AM (No. 9159134)
Article describes restitution "93 percent of the value of their accounts, from which about $1.6 billion".
In the absence of any explanation of where this money is coming from (I don´t see the source of money), I would have to assume this is another taxpayer bailout, covered with smoke in the dead of night. Our taxdollars are used to save Corzine from going to jail.
Thanks. I swear earlier I clicked "next" and was redirected to p. 1. Good points about source of the restitutition money. Isn´t that a reasonable question to be asked by the feckless GOP leadership who say nothing about outrages like this as the country plunges toward banana republic status? Let´s move out McConnell and let Ted Cruz handle it.
Corzine´s Enron-like scam should have resulted in at least a night in jail before he continued on his merry way making America safe for fascists like Obama. Corzine for Secretary of the Treasury or head of the IMF!
Why isn´t the money being "clawed back" to get the other 7%? They could get money from the DNC, the Obama Campaign, the Senate re-election committee, Corzine´s girlfriend, Corzine´s personal bank accounts, and numerous other places Democrats put their money.
If Corzine were a Republican, he would be in prison. Corzine is a crook, and yes, he got by with the biggest heist of the century, and he laughed all the way to the bank. It pays to be a friend of 0bama.
Corzine and Menendez must be Alynskied. Corzine thinks he is Superman -time to name and shame him. Fact he is one of Obamas crony capitalists highlights the corruption in this administration aka thugocracy. Menendez didn´t go to the DR innocently-he is a predator on young black women-where is the outrage? Why did Corrine bet on sovereign debt? Another bailout by us taxpayers?
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