I'm shocked I tell you. Shocked.
Posted on 12/05/2011 1:17:26 PM PST by kcvl
A former MF Global employee accused former president William J. Clinton of collecting $50,000 per month through his Teneo advisory firm in the months before the brokerage careened towards its Halloween filing for Chapter 11 bankruptcy.
Teneo was hired by MF Global’s former CEO Jon S. Corzine to improve his image and to enhance his connections with Clinton’s political family, said the employee, who asked that his name be withheld because he feared retribution.
“They were supposed to be helping Corzine improve his image as a CEO—I guess you can tell how that went,” he said. Corzine resigned as CEO and chairman November 4.
Before Corzine joined MF Global in May 2010, the firm was a smart and well-run commodities broker, a culture that was turned upside-down by his leadership style, he said.
“The traders would be shaking their heads,” he said. “They would come back to their desk and say, ‘Well, I thought we were going to do this—but Corzine would come by and do something else all by himself,’” he said.
The Teneo contract with MF Global lasted at least five months, he said. “The board cancelled it after Corzine resigned.”
The source, who is no longer associated with MF Global, said Teneo is a dual-track company with one side devoted to merchant and investment banking and the other side set up to provide image and strategy consulting services.
Clinton is the chairman of the company’s advisory board. His duties and compensation have not been released. The other member of the board is former British prime minister Tony Blair.
Two of the three founding partners are very close to the former president and his wife, Secretary of State Hillary R. Clinton. They are Douglas J. Band, who is the former president’s counselor and has served
(Excerpt) Read more at humanevents.com ...
Well, isn’t that interesting...
Report: Bill Clinton Reaped Big Bucks from Corzine Firm Before Collapse
December 05, 2011
Report: Bill Clinton Reaped Big Bucks from Corzine Firm Before Collapse
MF Global Employee Links Clinton to the Bankrupt Firm
A former MF Global employee accused former president Bill Clinton of collecting $50,000 per month through his Teneo advisory firm in the months before the brokerage careened towards its Halloween filing for Chapter 11 bankruptcy, reports Human Events.
Teneo was hired by MF Global’s former CEO Jon S. Corzine to improve his image and to enhance his connections with Clinton’s political family, said the employee, who asked that his name be withheld because he feared retribution, according to HE.
The Teneo contract with MF Global lasted at least five months, the souce said. “The board cancelled it after Corzine resigned.”
The source, who is no longer associated with MF Global, said Teneo is a dual-track company with one side devoted to merchant and investment banking and the other side set up to provide image and strategy consulting services.
Clinton is the chairman of the company’s advisory board, reports HE.
Can’t wait until OWS goes after the Clintons....
Oh, wait...
Governor of state spends billions more than he takes in, yet awards payouts to those who support him, forever and in perpetuity.
Governor goes into investment banking and brings the skills of his former work to the new job...............
And people are upset at the completely predictable repeat performance?
Those MF’ers stick together.
A two-fer maybe? I hope all these crooks go to jail. I am sooo sick of this theft.
Well now we know what “MF” stands for.
This kind of RAT-style thievery and money-laundering goes on all the time. Think Rahm Emanuel, Jamie Gorelick, Jon Corzine, Barney Frank. All kinds of bankrupt organizations with liberal RATS taking off with a ton of money.
Marc Rich had to be pardoned since he was only a prototype of what was continuing.
Was it named after Clinton? MF?
Seems to me that everyone on Wall Street with any kind of juice thinks they deserve millions annually just because of who they are. Who needs to be profitable when Uncle Sam backstops you and if he doesn’t...well, all the little people take a big bath. When Sam does backstop, everyone of the 51% gets to take a bite of the crap sandwich...except the guys who profited in the first place.
Bill Clinton To Advise Financial Firm Run By Longtime Associates Doug Band, Declan Kelly
11/29/11
WASHINGTON — Former President Bill Clinton is teaming up with a top aide, a former State Department envoy, and Tony Blair to start a private equity fund and global consulting company.
Declan Kelly, a former top State Department envoy and major donor to the secretary of state’s 2008 presidential campaign, has left government service to launch Teneo Capital, hiring Bill Clinton and the former U.K. prime minister as advisers for an undisclosed sum. Kelly’s partner in the venture is Douglas Band, a longtime Clinton aide who set up the Clinton Global Initiative and remains the former president’s right-hand man.
Bill Clinton earlier faced questions about whether his business ties would create conflicts for his wife, Secretary of State Hillary Clinton, and vowed to let the State Department sign off on his ventures. Kelly told HuffPost that State has approved Clinton’s involvement in Teneo Capital.
“President Clinton is involved purely in an advisory capacity, and his compensation is confidential,” Matt McKenna, a Clinton spokesman, told HuffPost. Kelly confirmed that Clinton will be compensated but declined to go into details.
Within the upper ranks of Democrats, such close ties to high finance are more common than the public might expect. For elite Democrats between or retired from public service, working a side gig as a tremendously well compensated consultant to a global investment firm has become routine. And those connections help explain why Democrats, even when they held a super majority in the Senate, couldn’t manage to raise taxes on hedge funds or carried interest.
Right off the bat, Teneo Capital seems well-poised to build on its access to and knowledge of Irish government.
I heard rats Dodd and Frank have already abandoned ship because of their part in this scandal. Pray all the corrupt rats go down, including the head RAT!!
Democrats and Wall Street
December 5, 2011
Messenger News
To the editor:
There is a myth that Wall Street controls Republicans. Just who is “Wall street?” Let’s look at the facts.
The epitome of Wall Street greed is Bernie Madoff. Madoff made off with $60 billion with his Ponzi scheme. Madoff is a Democrat. He was Hillary Clinton’s biggest fundraiser. He also raised millions for Obama and Chuck Schumer.
Another big-time Ponzi schemer was Mark Sanford. Sanford is also a Democrat and raised millions for Obama and Schumer.
Likely joining Madoff in jail will be John Corzine, the CEO who recently bankrupted MF Global. Before that, as its Democratic governor, he ran New Jersey into the ground. And before that, he was a Democratic senator.
The largest bailout in history was the $180 billion used to bail out Fannie Mae and Freddie Mac. Franklin Raines was a CEO of Fannie Mae who was fired for cooking the books. Raines is a Democrat. Tim Howard was a CFO of Fannie Mae who was caught cooking the books. Howard is a Democrat. James Johnson was also a CEO of Fannie Mae who was fired for cooking the books. Johnson was selected by Obama to lead his vice presidential search committee. Rahm Emmanuel was Obama’s chief of staff. He was on the board of directors of Fannie Mae. Jamie Goreleck (Clinton regime) was on the board of directors of Fannie Mae. Guess which party got 90 percent of the political contributions from Fannie Mae? When the Bush administration sought an investigation into Fannie Mae in 2003, it was blocked by Democrat Barney Frank whose ... lover, Herb Moses, was an executive at Fannie Mae. The Dodd Frank bill, signed by Obama, even exempted Fannie Mae and Freddie Mac from its regulation.
And, bringing it all back home, there’s Ruth Harkin, wife of Democrat Tom Harkin. As the head of OPIC, she lobbied the Clinton regime for three-fourths of a billion in taxpayer dollars so that ENRON could build a plant in India. Before leaving OPIC, she also obtained taxpayer money from the Clinton regime for United Technologies. Upon leaving OPIC, she ended up with a senior vice presidency position at United Technologies. UT has been frequently under scrutiny for having the most outrageous executive compensation packages in the world.
It has been a common strategy of the Democrats to accuse the Republicans of something that the Democrats have been doing for a long time.
Roger Huetig
Fort Dodge
http://www.messengernews.net/page/content.detail/id/544334/Democrats-and-Wall-Street.html?nav=5088
They’re all one big happy family...as in Mafia family...
I'm shocked I tell you. Shocked.
Just like the Mob, kick a taste upstairs to the Boss...
Two of the three founding partners are very close to the former president and his wife, Secretary of State Hillary R. Clinton. They are Douglas J. Band, who is the former president’s counselor and has served on his personal staff since 1995 and Declan Kelly, who earned the “Hillraiser” status in the secretary’s 2008 run for president for bundling more than $100,000 for the campaign.
Another prominent member of the Clinton political family is Tom Shea. Shea is a senior vice president for Teneo Strategy and served as Corzine’s chief of staff, when Corzine was the governor of New Jersey.
bflr
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