Posted on 08/24/2012 2:58:54 PM PDT by Hojczyk
Stock Market Watch reported:
Best quotes from Koutoulas:
“Crimes were unequivocally committed and I will do whatever I can to continue to do the government’s job for it and help see justice done.”
“MF Global had a choice. Do we cheat or go out of business. And they cheated. They broke the law. And these took these customer funds to cover margin calls.”
“Attorney General Eric Holder’s Department of Justice is the biggest enabler of financial crime in U.S. history.”
And the kill shot:
“I will take this to all 50 states. And we will win. We will get a conviction of Jon Corzine. And the next time a sociopath CEO says ‘Do I go out of business or do I cheat,’ he’s gonna think about President Obama’s biggest fundraiser in an orange jumpsuit in state prison.”
(Excerpt) Read more at thegatewaypundit.com ...
B U M P
An honest administration would have jailed Corzine by now. It’s simple - where is the money???
Obama somehow owes Corzine and is in Corzine’s pocket.
BTTT
People need to go to jail BUMP!
The question is will Corzine be prosecuted once (and if) Romney is elected???
” Obama somehow owes Corzine and is in Corzine’s pocket.”
More like Corzine owes Obama big money, and Obama can’t collect if Corzine is behind bars.
“And the next time a sociopath CEO says ‘Do I go out of business or do I cheat,’”
Cheating, lying, pretending to be better than reality...lots of that going around these days.
He is in Corslimes very-very deep pockets. They are so deep that they reach the gutter where Gorge Sorass lives.
REVEALED: CORZINE’S MF Global Was Client of Eric Holder’s Law Firm / By Wynton Hall / breitbart.com
Those wondering why the DOJ has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of AG Eric Holder and Asst AG Lanny Breuer’s former law firm, Covington & Burling. There’s more. Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester—the very law firm from which Associate AG Tony West came to DOJ. And more.
As GAI President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said,
“I could have engaged any lawyer in America to represent our bank. I chose Eric.”
Until now, the conventional wisdom for why Holder wouldn’t throw the book at Corzine was that Corzine is an Obama campaign bundler. Indeed, as Breitbart News reported, four of the top officials at the DOJ—Eric Holder, Thomas Perrelli, Karol Mason, and Tony West—were also big money bundlers for Obama. But the newly understood crony connections reveal conflicts of interest that extend well beyond mere political support for a common candidate—they go to a tangle of prior business dealings that further underscore the need for a special prosecutor in the Corzine case.
At least 65 members of Congress have already signed a letter to Holder requesting that he appoint a special prosecutor to investigate MF Global’s collapse and the loss of $1.6 billion. What’s more, even progressives have begun to wonder whether Holder’s Covington & Burling connection explains why the DOJ has not charged, prosecuted, or jailed a single Wall Street executive after the biggest financial collapse in American history.
As Richard Eskow of the Huffington Post recently wrote: More and more Washington insiders are asking a question that was considered off-limits in the nation’s capital just a few months ago: Who, exactly, is Holder representing? As scandal after scandal erupts on Wall Street, involving everything from global lending manipulation to cocaine and prostitution, more and more people are worrying about Holder’s seeming inaction — or worse — in the face of mounting evidence.
This isn’t going away. Both the left and the right are onto Holder’s Wall Street head fake. With the revelation of the new crony connections, the time for Eric Holder to appoint a special prosecutor in the Corzine/MF Global case is now.
My Dad told me, “When there’s big money involved, someone’s going to find a way to cheat.”
Look at all these clever little thieves trying to rip off the casinos. If people will run that kind of risk for a few thousand bucks, what will people do when there’s trillions of dollars involved?
The Democrats aren’t misguided ideologues, they’re just dirty little thieves trying to loot the public treasury.
And when there’s trillions of dollars involved, would they buy off the old media? Would they plant some of their people as conservatives so they could screw up the conservatives and allow the Democrats to keep looting the public treasury?
Charges might include: (1) criminal tax fraud (2) deliberately misstating income, (3) filing false returns, (4) falsifying official documents, (5) intentionally mislabeling personal expenditures as business expenses, (6) utilizing funds inappropriately, (7) fraudulent use of funds for lavish personal expenditures, (8) fraudulently declaring to the IRS personal expenditures as legitimate business expenses.
BTTT!!!
The slimy Corzine may actually get what he so richly deserves..
WITHHOLDER should be presecuted right along with him. Another in a series of telling appointees by the FOREIGNER of radical anti american/communists out to DESTROY THIS COUNTRY.
That’s a good starter list : )
OUCH!!!
If we are going to preserve the rule of law in this country or reinstate it within our financial markets it will have to be done by the Attorney Generals of our states. Congress (to include more than a few Republicrats) is awash with fraud and backdoor deals with supporters and the revolving door of Government technocrats that go from one administration to big business for big bucks and back to government again.
People have no idea how pervasive and damaging these people are to our nation and each and every one of us. The fact that Jim Johnson, Franklin Raines, and Jamie Gorelick have not been prosecuted for cooking the books at Freddie/Fannie to rake in multi-million dollar bonuses must not be forgotten and Romney should promise to appoint a special prosecutor to look into it. The truth and consequences are necessary to restore faith in our markets and laws.
The system of checks and balances no longer exist on Wall Street for the insiders and it must stop. I have heard many people opine that all of this does not impact them. They are fools. These crimes affect each and every American because these folks have defrauded the taxpayers and anyone who has an investment retirement account!
As I posted in an earlier story a few days ago. I believe that if Romney wins, his justice department will prosecute Corzine within the first thirty days. Everyone else thought I was dreaming, or worse. Because Santelli has no juice. Really. Just watch.
The time that the incarcerated population figures this out is going to be a bad time.
What really grates me about the lawdogs is the way they puff out their chests when they're "taking down a perp", and pat themselves on the back for a job well done.
Why are Bill Clinton and Jon Corzine still walking around free? Hmmmmmmmmmmmmmmm?
Because all your multitude of "laws" are for the little people?
Unfortunately, all the charges you describe are the income/IRS-related charges, so they are not even "in the eye of the be-HOLDER" or DOJ and won't go anywhere.
I saw the Santelli clip with Koutoulas and was very disappointed. The guy just sounds like a huckster and publicity hound, all bluster and "red-meat" platitudes but very little substance. He is right that Holder and DOJ are covering up for Corzine and want to dismiss the case - that's one reason they didn't want CME's Terry Duffy anywhere near "their investigation" - but that's not exactly news. DOJ is also not the only entity that's investigating the case.
First, there are very few of the "50 states" who would even bother with accepting the lawsuit, or have it kicked out on the grounds of jurisdiction and standing.
Second, if the guy really thinks that he can claim that MF Global / Corzine situation is in any way equal to Peregrine Financial (PFG) / Wasendorf Sr., then he is delusional and Corzine's victims need a better representation.
Wasendorf Sr. perpetuated over 20 years a pure Ponzi scheme, same as Madoff, only on much smaller scale. The only resemblance between PFG and MF Global is that they were both commodity brokerages and it involved (obviously!) segregated customer accounts. That's where the money was at PFG and Wasendorf was looting segregated accounts for years, while Corzine used them in the last few days to shore up the regulators' capital requirements and cover the margin calls while trying to fire-sell the company - it is a crime, but an entirely different one.
Wasendorf is in jail because he pretty much confessed to the crime, just like Madoff. Corzine basically said "Prove it" which can be done, if there is a will to do it.
From a puff-piece, laying the groundwork for opinion, by the Corzine-Obama-Holder-axis-friendly NYT:
No Criminal Case Is Likely in Loss at MF Global - CNBC / NYT-Dealbook, (editor-in-chief Andrew Ross Sorkin) by Azam Ahmed and Ben Protess, 2012 August 15-16
Typically in white-collar cases, investigators start their interviews with lower-level employees and build up to the top executives of a firm. In July, when federal authorities first approached Corzine's lawyers, it was not clear whether he would agree to an interview. But the signs were good. In such cases, if prosecutors have damning information, they often file charges rather than extend an offer for a voluntary interview. Though he is now expected to attend the meeting, questions remain about which government agencies will join. Because Corzine still faces scrutiny from regulators, including the Commodity Futures Trading Commission, their attendance could pose a problem. These agencies, which have a lower bar to proving civil wrongdoing than do criminal authorities, are examining whether top executives misled investors about the firm's health and failed to protect customer money. The C.F.T.C., the Federal Bureau of Investigation and the United States attorney's office in Manhattan declined to comment for this article. As the government's focus shifts away from Corzine, it remains interested in a lower-level employee in the firm's Chicago office, who was known as the "keeper of the books" at MF Global. That employee, Edith O'Brien, oversaw the transfer of customer money during the firm's final week, when the client cash vanished into the hands of banks, clearinghouses and even other customers. O'Brien, an assistant treasurer, has declined to cooperate with authorities without receiving immunity from criminal prosecution. ..... < snip > < snip > ..... With a criminal case unlikely to materialize, the anger over the collapse of MF Global is likely to grow.
They might be afraid to charge O'Brien if they think that she can spill the beans and point the finger at Corzine. If there is substantial evidence that Edith O'Brien has the goods, the Congress can give her limited immunity for testifying, and invite some of the DOJ's and other "investigators" to ask them questions... For instance, whether a crime has been committed at all and, at the very least, what the meaning of the 2002 Sarbanes-Oxley law (of which Corzine was one of the main authors when he was in Senate) is?
Then, there is also potential of civil lawsuits from regulators, insurance companies and the civil lawsuit by the victims (hopefully they have more than Koutoulas).
Interesting bit from Trustee in suit vs. MF execs - NYP, by Kaja Whitehouse, 2012 August 16
Trustee James Giddens yesterday said he will join litigation brought by spurned customers, which is already in place, against Corzine, CFO Henri Steenkamp, COO Bradley Abelow and General Counsel Laurie Ferber. The trustee responsible for recouping money for burned MF Global customers penned an agreement yesterday to join forces in suing former executives of the company, including fallen CEO Jon Corzine.
As part of the cooperation agreement, Giddens will turn over all the documents he uncovered in his investigation and all the money recovered in the lawsuit will go to the wronged MFG customers. The hearing on cooperation agreement will take place on September 5, 2012. If not approved, Giddens will file separate lawsuits against MFG execs, which is what he planned to do originally (June 04, 2012). Of course, he also has vested interest - trustee of Madoff case, Picard, already accrued more than a quarter of a billion dollars in compensation for his "recovery efforts."
A bit of sanity here: From MF Global and the 'Missing' Funds - WSJ, by Holman Jenkins, 2012 August 03
If our own experience is any guide, Louis Freeh can expect anguished emails in response to his failure to melodramatize the plight of MF Global customers, whom he predicted in Senate testimony this week would end up getting 100% of their money back. ..... < snip > ..... He refers in his written testimony to the "alleged" missing money. He says plenty of assets exist to cover customer losses and even to make a dent in what MF owes its unsecured creditors. Let's pause to note MF customers have been wronged, certainly. They had every right to expect their funds to be "segregated" and returned immediately when MF failed, not caught up in the competing claims of a bankruptcy. Inevitably, somebody from pre-bankrupt MF must face criminal charges over so gross a violation. But the money isn't "missing." It's just uncertain now whom it belongs to. Moreover, the greatest threat to its timely and complete return to customers is the trustees themselves. As Mr. Freeh has pointed out, conflict is inevitable when multiple trustees, in the name of multiple claimants, are pursuing a single pot of money. But the pot isn't getting bigger. It's getting smaller, consumed by the trustees' own fees and litigation expenses. In not a perfect world, but just a better one, Messrs. Freeh, Giddens and the trustees for MF's foreign customers would have settled long ago among themselves who is a customer entitled to customer funds. The other, unsecured claimants of MF Global would have been better off too, since litigation would chew up less of the pot. ..... < snip > In a better world, trustees wouldn't be suing each other, and customers would have their money.
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