Posted on 12/06/2011 9:59:07 AM PST by Why So Serious
Earlier this year MF Global issued Investment Grade bonds. In the underwriting process they added a clause to the bonds ... IF Jon Corzine is chosen to be the Secretary of the Treasury the bonds will have an additional 1% kick-in. I would say that was like saying, "Hey, there is a good chance that Jon Corzine is going to be Secretary of the Treasury and you will get another 1% on these bonds."
Today bondholders would probably prefer that the clause say that ... "If Jon Corzine takes down the firm you will receive back your principal."
This is a joke. MF Global is the first Investment Grade bond that never made a singal coupon payment. Disgusting! And this is the smartest guy that Joe Biden ever met.
Corzine is the second smartest guy Slow Joe ever met ... Slow Joe is the first ... just ask him! Did anyone ever consider before they invested with Corzine that he was a Goldman Sachs slimeball and not in the least bit trustworthy?
Amazing how the RATS rail against “Wall Street Insiders”, when they ARE the Wall Street insiders.
Claim: Clinton Collected $50K Per Month From MF Global
http://www.humanevents.com/article.php?id=47938
I’d be willing to bet that Clinton is not the only high level political player who got such deals from MF Global
Corzine is just another capitalist that does not deserve to go to jail. /Sarc.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.