Posted on 12/08/2011 7:05:09 PM PST by Texas Fossil
As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon Corzine testified Thursday about the “last chaotic days” of MF Global, the trading firm that declared bankruptcy under his watch.
Corzine said he was “stunned” to learn that the firm could not locate hundreds of millions of dollars in client money in the days before the firm’s collapse, and said he had no idea where the money had gone.
(Excerpt) Read more at latimesblogs.latimes.com ...
As the CIA says---the crooks always leave a paper trail.
Give me five minutes with the MF books, and I'll tell you where the missing money is.
===============================================
Keep in mind.....neither Corzine nor any of the other MFGlobal execs (Corzine’s G/S cronies) have been arrested, detained or even questioned under oath.......notwithstanding a billion dollars missing.
Wall street/political veteran Corzine is accustomed to using other people’s money to benefit himself. He has no qualms about missing money. Billions went missing when he was tossed out of NJ state govt (details below).
--------------------------------------------------------------------------------
SO WHERE IS THE MISSING MF GLOBAL MONIES? Time to connect the dots
<><> Corzine is a well-rounded operator. As Governor, he left the state of NJ $8 billion in debt. $8 billion went missing from one state agency....other agencies like UI and the Transporation Trust Fund went bankrupt with no explanation why. The $82 Billion state pension fund lost about 25%.
<><> Right before Corzio’s reelection, Obama sent $17.5 Billion stimulus to NJ-—which promptly vanished. VP Biden is on record as having asked Corzine for financial advice----Biden has a son and a brother involved with the Stanford offshore fraud (Stanford is in jail.)
<><> Gov Corzine made several highly suspicious trips to Israel when he had no political reason to be there. Israel is the only place in the world where you can take a suitcase full of money to a bank-—and noboody asks where it came from. Isreal also has many businsses in NJ funded with NJ state “grants” as well as an Israeli Chamber of Commerce.
<><> MF Global principal Brad Abelow was Corzine’s appointee as NJ Treasury Secy——controlling ALL NJ assets. Gov and Secy started an investment business——but the two “financial geniuses” said did not know this was illegal.
<><> MF Global principal Chris Flowers handled Sen/Gov Corzine’s “blind assets” ......Flowers led the taskeover of a Japanerse bank for Corzine——Sen Corzine passed a bill giving the bank a US tax break......said he did not know the bill benefitted him.
<><> Corzine registered three corporations in super-secret financial haven——Delaware——BEFORE taking office.
<><> All three of the above-named MF Global principals were G/S cronies.
<><> Ponzi king Bernie Madoff made a generous contribution to Corzine’s campaign.
1. Charlie Gasparino ( a great reporter ) was on FOX business yesterday afternoon. He reminded everyone that the bankruptices of Bear Stearns and Lehman Bros, were much larger, more complex, with a far great number of accounts involved, yet not ONE $ of clients funds were ever at risk or lost.
2. Funds flow in and out of financial institutions via the bank wire/EFT system. They can get a printout instantly of every transfer out of MF Global, and where it went, just as easy as getting a copy of your phone bill, showing all calls. They already know exactly where all the funds went. What Corzine said is BS
Thanks for the informative post.
1. I did hear CG’s comments WRT larger firms going under without clients’ money disappearing.....watta great point, eh?
2. Of course they can trace MF client money-—no problem. Corzine cops this “innocent me” attitude-—counting on the same citizens’ stupidity that he is a “financial genius” which got him into public office in the first place.
http://www.freerepublic.com/focus/f-news/2818175/posts
CNBC: Soros Bought $2 Billion Ex-MF Global Europe Debt: Report
Shocked or not, involved in the fraud or not, Sarbanes-Oxley makes Corzine himself legally liable for what he certified in his capacity as CEO.
He said that to transfer funds, as was done, out of customers' accounts, would require back office staff. I said this over a week ago....it's not like Corzine could just piunch a button on his computer...but these people would NOT do this, without explicit directions from Corzine, even thoguh they all knew that it was completely illegal.
Why they went along is easy to understand..they believed Corzine, when he told them that it would all be put back in a few days, and that if thet didn't go along, the firm, and t heir jobs, would disappear. These back office staff are now cutting deals with the Feds..
Thanks for the link.
Other MF’ers have said Corzine acted like a Lone Wolf——overruling without discussion-—standard internal financial methodologies.
Clearly, Corzine had a hidden agenda——probably colluding with Clinton, Soros, and others.
Buy! But! wasn't this buffoon advertised as the best and brightest in his field?
I watched his testimony yesterday and I was surprised at how little he seemed to know about his supposed field of expertise.
If Corzine signed off on inaccurte statements, he is liable.
If Corzine falsified documents, he is prosecutable for several felonies.
Holding MF debt off the books is an Enron scan that put their CFO in jail.
Corzine apparently forced employees to buy stock of a failing company-—which got Enron’s ken lay indicted.
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.