Posted on 11/15/2011 10:13:18 AM PST by Driftwood1
MF Global chief Jon Corzine donated $5,000 to President Barack Obama’s re-election campaign in April, but that money could be returned if Corzine is accused of any wrongdoing. As reported by Reuters, an official on the Obama campaign said all $500,000 raised by Corzine and donated to the president would be restored if the CEO has either civil or criminal charges brought against him.
Corzine, who was head of the now bankrupt MF Global, has been thrown under a firestorm of controversy this week regarding the securities of the company. The former Goldman Sachs executive has not yet been accused of any wrongdoing, but investigations are being launched into MF Global’s collapse and analysts this the president’s move is a wise one.
(Excerpt) Read more at thirdage.com ...
$5000?
ML/NJ
“...all $500,000 raised by Corzine and donated to the president would be restored if the CEO has either civil or criminal charges brought against him.”
That’s all you need to understand about that proposition. No charges for Corzine.
Everybody who understands the MF Global story knows Corzine ripped off $600 million from clients.
But he’s not in jail.
We don’t have rule of law; we have the law of the rulers.
One thing’s for sure: Corzine is a much savvier con man than Madoff.
Very true. It is (to me) a measure of just how accustomed, how inured we are to fraud that Corzine and MFGlobal are nowhere to be found in the daily reporting. By all rights, this case should seriously undermine confidence in our markets. The idea that the CME is throwing $300 MM into the pot to temporarily take care of the accountholders is itself something of an indicator. As if...this makes it OK.
The recent bankruptcy of financial stalwart and Wall Street casino failure MF Global in the US, has claimed a new and unlikely victim. Following the company’s glorious collapse, Trends Research founder Gerald Celente had his own six figure gold investment account completely looted by chapter 11 trustees, and he is fighting to get it back
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