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(The New York Times) Obvious Customer funds missing from the collapsed trading firm MF Global may be more than $1.2 billion, almost double the previous estimates. CEO Jon S. Corzine, everyone's still looking at you   (dealbook.nytimes.com) divider line 22
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729 clicks; posted to Business » on 22 Nov 2011 at 12:51 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!



22 Comments   (+0 »)
   
 
2011-11-22 10:41:33 AM
Too bad there weren't strict SEC controls in place like you campaigned for when you were a senator.
 
2011-11-22 11:07:41 AM
we're not bailing these people out. we ARE going to tell everyone who loses their money in this debacle that we're starting a petition to re-instate Glass-Steagle and make it a capital offense to steal over a billion from your investors/customers....but they gotta vote Democrat to do it.
 
2011-11-22 11:39:18 AM
give me doughnuts: Too bad there weren't strict SEC controls in place like you campaigned for when you were a senator.

TFA: "Regulators suspect that as investors and customers fled MF Global in the last week of October, the firm used some of the customer money for its own needs - violating Wall Street rules that customers' money be kept separate from the firm's funds.

...

Regulators currently suspect that MF Global - at the time run by Jon S. Corzine, the former Democratic governor of New Jersey - improperly used customer money for its own purposes in the days before filing for Chapter 11 protection on Oct. 31."


Maybe Corzine just figured that since he was super-connected in Washington he'd be able to get his friends there to look the other way. I guess he didn't bundle quite enough campaign money for his party to buy himself immunity, let alone the Treasury Secretary's gig.

Please explain how the solution to regulations going unenforced until the money's gone is to draw up more regulations that go unenforced until the money's gone.
 
2011-11-22 11:43:46 AM
i would love to see corzine go to prison for this.
 
2011-11-22 11:47:04 AM
FlashHarry: i would love to see corzine go to prison for this.

I'd love to see Corzine make a deal for immunity and sell out Goldman-Sachs in order to save his ass.
 
2011-11-22 11:52:48 AM
And he was THE FIRST guy Obama and Biden came to for advice on the Economy. The smartest guy on Wall Street.
 
2011-11-22 11:56:15 AM
GaryPDX: And he was THE FIRST guy Obama and Biden came to for advice on the Economy. The smartest guy on Wall Street.

I don't think rampant greed is confined to a particular political party. it's one of the few things that is truly bi-partisan.
 
2011-11-22 12:03:58 PM
Weaver95: GaryPDX: And he was THE FIRST guy Obama and Biden came to for advice on the Economy. The smartest guy on Wall Street.

I don't think rampant greed is confined to a particular political party. it's one of the few things that is truly bi-partisan.


lol..greed is universal. It's part of the human DNA. Corzine needs to be bunk buddies with Madoff.
 
2011-11-22 01:47:07 PM
GaryPDX: Weaver95: GaryPDX: And he was THE FIRST guy Obama and Biden came to for advice on the Economy. The smartest guy on Wall Street.

I don't think rampant greed is confined to a particular political party. it's one of the few things that is truly bi-partisan.

lol..greed is universal. It's part of the human DNA. Corzine needs to be bunk buddies with Madoff.


Am I wrong in imagining that, in your mind, you're presuming the past year of prison has transformed Madoff into a homosexual rapist? Is that the joke you're trying to make here?

/serious question
 
2011-11-22 01:50:44 PM
Weaver95: we're not bailing these people out. we ARE going to tell everyone who loses their money in this debacle that we're starting a petition to re-instate Glass-Steagle and make it a capital offense to steal over a billion from your investors/customers....but they gotta vote Democrat to do it.

Well, for one thing Corzine was a Dem for what that's worth.

But more importantly, I don't think Glass Steagall would have helped here. MF Global wasn't a bank, it was a broker dealer.
 
2011-11-22 01:53:38 PM
MusicMakeMyHeadPound: Am I wrong in imagining that, in your mind, you're presuming the past year of prison has transformed Madoff into a homosexual rapist?

I don't see Madoff as a muscle-bound rapist. If anything, he's either (1) the rapee, or (2) the inmate that other inmates go to for advice on setting up convoluted white crime schemes.

PDX wants to compare Corzine to Madoff to make Obama look bad. As Obama hasn't said anything about the police attack on protesters at UC Davis, PDX can say whatever he wants about Obama as far as I'm concerned.
 
2011-11-22 01:59:49 PM
MusicMakeMyHeadPound: Am I wrong in imagining that, in your mind, you're presuming the past year of prison has transformed Madoff into a homosexual rapist? Is that the joke you're trying to make here?

/serious question


lol..not at all. Just meant Corzine belongs in jail with Madoff. Actually since you brought it up, I'm inclined to think Madoff would more likely be Corzine's biotch.
 
2011-11-22 02:09:58 PM
Obama should make him Treasury Secretary.
 
2011-11-22 02:14:50 PM
GaryPDX: MusicMakeMyHeadPound: Am I wrong in imagining that, in your mind, you're presuming the past year of prison has transformed Madoff into a homosexual rapist? Is that the joke you're trying to make here?

/serious question

lol..not at all. Just meant Corzine belongs in jail with Madoff. Actually since you brought it up, I'm inclined to think Madoff would more likely be Corzine's biotch.


If you put them in a cell together, they'd immediately start a scam to fleece us.
 
2011-11-22 02:27:00 PM
Weaver95: GaryPDX: And he was THE FIRST guy Obama and Biden came to for advice on the Economy. The smartest guy on Wall Street.

I don't think rampant greed is confined to a particular political party. it's one of the few things that is truly bi-partisan.


Is that why you said voting Democrat would fix it?
 
2011-11-22 03:17:10 PM
Corzine won't face a minute in jail for any of this, he is well connected to both the state and corporate powers that be. If he had any indication he might pay for the bilking of over a billion dollars in investors money he would have been long gone before the bomb went off.

He is a free man. Amazing, if I stole a load of bread and got caught I would do at least a few hours in a cell. This guy oversees the theft of what will eventually total well over two billion US dollars and no one can even be bothered to see where he is these days.

If this isn't painting a clear picture on how the Law in this country applies to the poor only then i'm not sure what is.
 
2011-11-22 06:41:06 PM
give me doughnuts: Too bad there weren't strict SEC controls in place like you campaigned for when you were a senator.

They were already willing to violate account sequestration regulations. Think that more regs is the answer to people who ignore regulations?
 
2011-11-22 07:08:56 PM
GaryPDX: MusicMakeMyHeadPound: Am I wrong in imagining that, in your mind, you're presuming the past year of prison has transformed Madoff into a homosexual rapist? Is that the joke you're trying to make here?

/serious question

lol..not at all. Just meant Corzine belongs in jail with Madoff. Actually since you brought it up, I'm inclined to think Madoff would more likely be Corzine's biotch.


Oh. I don't disagree with you either way, it's just that I read your post and was like, "what?"
 
2011-11-22 09:19:44 PM
I'm not saying it was leprechauns....
blog.nj.com
but it was definitely leprechauns.
 
2011-11-22 11:26:58 PM
Funny how the Koch Brothers, who had had billions of dollars with MF Global for literally decades, pulled all their money out of MF Global just days before the collapse.

Must've been a coincidence.
 
2011-11-22 11:47:23 PM
Goodfella: Funny how the Koch Brothers, who had had billions of dollars with MF Global for literally decades, pulled all their money out of MF Global just days before the collapse.

Must've been a coincidence.


If anyone thinks Corzine lost any personal money, they are smoking crack. There's no doubt Corzine insulated himself financially with help. Albeit I'm more likely to believe Soros over the Koch boys. But hey, time will tell.
 
2011-11-23 09:23:42 PM
Weaver95: we're not bailing these people out. we ARE going to tell everyone who loses their money in this debacle that we're starting a petition to re-instate Glass-Steagle and make it a capital offense to steal over a billion from your investors/customers....but they gotta vote Democrat to do it.

RLY? And you figure that because the vote to repeal the Glass-Steagle Act in 1999 that was signed by a democrat president was a good thing then?

Are you dumb, stupid, delusional or mentally challenged?
 
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