Posted on 11/14/2012 12:31:33 PM PST by ExxonPatrolUs
Poor management decisions by MF Global's former CEO Jon Corzine triggered the brokerage firm's collapse, while lax protections for customer funds contributed to the loss of an estimated $1.6 billion of customer money, U.S. congressional investigators have determined.
Evidence unearthed by the House Financial Services Subcommittee on Oversight puts the blame squarely on Corzine, the panel's chairman Rep. Randy Neugebauer, said in a preview of the report that will be released on Thursday.
(Excerpt) Read more at chicagotribune.com ...
Obama’s presidency is only about helping the super rich loot this country.
Do you think this will disqualify Corzine from being named the next Secretary of the Treasury?
I don’t.
A $1.6 billion larceny is a felony, not a “poor management decision”.
Ridiculous! The collapse was cause by to much government red tape and over regulation.
Capital punishment is too nice for this scumbag.
You mean Dodd-Frank didn’t protect the investor/trader??
Wow, who’d a thunk it.
Corzine really should be in a federal prison.
It took Congress this long to figure out what those of us in the capital markets had figured out after about four weeks.
Corzine is responsible. Corzine should be under indictment, at the very least.
But he isn’t, and I don’t think he will be at any time soon.
ping
Strangely the Senate could find no fault with their ex-colleague.
Birds of a ........
This rich slimey RAT should write a check for $1.6 billion, or spend the rest of his life in solitary confinement.
If Martha Swewart (I know, I know) can spend time in the slammer for making a few friendly quid in the stock market, this guy who required his company to pony up $1.6B of customer owned funds needs big time jail time!
This is extremely bizarre.
“Lax protection for customer funds.” That’s an interesting way to describe using (supposedly) segregated customer funds to back up your own tanking risky trading schemes.
If they had no legal right to use these funds in this way, isn’t it theft and fraud, not just “laxity?”
This is extremely bizarre.
“Lax protection for customer funds.” That’s an interesting way to describe using (supposedly) segregated customer funds to back up your own tanking risky trading schemes.
If they had no legal right to use these funds in this way, isn’t it theft and fraud, not just “laxity?”
how do you LOSE $1.6 BILLION dollars????
Did they look and their other pants pocket?
i mean.. someone MUST be entering data into a computer program somewhere...
Was it all in CASH?
And how much was funnelled to the DNC???
Didn’t Obama tell us that Corzine is an honorable man?
how do you LOSE $1.6 BILLION dollars????
Did they look and their other pants pocket?
i mean.. someone MUST be entering data into a computer program somewhere...
Was it all in CASH?
And how much was funnelled to the DNC???
Old news....
The Tribune is bringing this up now....why?
Not that the Current Occupant of the White Hut has much need for Jon Corzine any more. Another failed bank/brokerage house/money laundering scheme does not make that much difference to the bunch of treason promoters and currency manipulators once they got their hands in the Big Time, the US Treasury.
Prominent Democrats will not serve any prison time so long as the Current Occupant of the White Hut remains entrenched.
Protections of customers funds...
Customer money was stolen with all the corporate authority possible given on every transfer.
Protection - the protection is that Corzine should be in jail as a convicted felon for embezzlement.
It doesn’t matter. Dems are immune from “laws”. I going to become a Dem and lie, cheat and steal and I’ll be heralded and worshipped!
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