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No Criminal Case Is Likely in Loss at MF Global
New York Times ^
| August 15, 2012
| Azam Ahmed and Ben Protess
Posted on 08/16/2012 8:51:53 AM PDT by C19fan
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This is disgusting. Corzine is getting off. This reminds me of the time there were Ecclesiastical Courts for Priests and the like or how aristocrats were exempt from the law de jure of de facto. I think it should be a law that firms like MF Global should not be limited corporations but partnerships. That way if Corzine is so incompetent now to install proper risk management systems and procedures then he will be taken to the cleaners and all his property and assets would be liquidated.
1
posted on
08/16/2012 8:52:03 AM PDT
by
C19fan
To: C19fan
Shocker. The most corrupt administration in history does it again.
To: C19fan
1 Billion dollars cannot slip through a porous foundation.
1 Billion dollars means a hole big enough to walk through.
3
posted on
08/16/2012 8:55:07 AM PDT
by
Venturer
To: C19fan
So much for Sarbanes-Oxley. Or is that only applicable to non-Obama bundlers?
4
posted on
08/16/2012 8:55:16 AM PDT
by
PogySailor
(Obama is a SCOAMF)
To: C19fan
No penalty for stealing peoples assets.
THIS IS OUTRAGEOUS!!!
5
posted on
08/16/2012 8:55:50 AM PDT
by
CPT Clay
(Follow me on Twitter @Clay N TX)
To: C19fan
I hear that Corzine is bundling money for Obama’s re-election.
6
posted on
08/16/2012 8:56:22 AM PDT
by
Farmer Dean
(stop worrying about what they want to do to you,start thinking about what you want to do to them)
To: C19fan
Wasn’t Sarbanes Oxley supposed to prevent this?
7
posted on
08/16/2012 8:57:18 AM PDT
by
CPT Clay
(Follow me on Twitter @Clay N TX)
To: All
did anyone think this guy was going to get anything other than a soft landing somewhere tropical after the “full and through investigation” by “the Attorney General’s office”..
8
posted on
08/16/2012 8:59:17 AM PDT
by
newnhdad
(Where will you be during the Election Riots of 2012/2013?)
To: CPT Clay
Yes, but only if the guilty are not Obama supporters.
Someone said this before: our grandfathers would be shooting by now.
9
posted on
08/16/2012 8:59:17 AM PDT
by
Mouton
(Voting is an opiate of the electorate. Nothing changes no matter who wins..)
To: C19fan
...criminal investigators are concluding that chaos and porous risk controls at the firm,...That's BS.
They know where every cent went.
If they don't, it's because someone destroyed the backup/transaction journal files, which I'm fairly certain is also illegal.
10
posted on
08/16/2012 8:59:25 AM PDT
by
DuncanWaring
(The Lord uses the good ones; the bad ones use the Lord.)
To: CPT Clay
I don’t think Sarbanes-Oxley applies here.
This is simple embezzelment.
11
posted on
08/16/2012 9:01:34 AM PDT
by
DuncanWaring
(The Lord uses the good ones; the bad ones use the Lord.)
To: chessplayer
I smell a socialist democratic rat in this investigation.
12
posted on
08/16/2012 9:01:38 AM PDT
by
spawn44
(MOO)
To: C19fan
Not really a surprise.
I know a few people who had money invested via MF Global. Tough luck.
13
posted on
08/16/2012 9:02:11 AM PDT
by
Cicero
(Marcus Tullius)
To: C19fan
But a $6.3 billion wager on the European sovereign debt proved fatal. The size of the bet was enough to wipe out the firm many times over, and as questions about Europes health grew, a run on MF Global ensued. In the panic, the firm tapped customer money to stay afloat, which scuttled a last-minute deal to save the firm. Nope, nothing wrong here. Probably just a rounding error on a spreadsheet by an intern.
To: C19fan
This should be made a key talking point at the RNC convention and any debate that R & R participate in.
Obama railing against Wall Street, but does not prosecute them. Hmmm...
15
posted on
08/16/2012 9:08:32 AM PDT
by
Hotlanta Mike
(Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
To: DuncanWaring
Well, the good news is no trial was held, it would have been a show trial with some incompetent prosecutor throwing the case. When the DOJ falls back into GOP hands, they can take another look at this.
16
posted on
08/16/2012 9:10:26 AM PDT
by
Mouton
(Voting is an opiate of the electorate. Nothing changes no matter who wins..)
To: Mouton
I guess Obama-Biden never took the chains off Wall Street sense he has no indicted anyone
17
posted on
08/16/2012 9:12:44 AM PDT
by
scooby321
(AMS)
To: C19fan
If Corzine hasn’t spent (or donated to Bath-House Barry) all the money he has stolen, he can certainly afford car starters and food tasters.
18
posted on
08/16/2012 9:14:22 AM PDT
by
Mortrey
(Impeach President Soros)
To: C19fan
Further evidence that the system is broken.
Funny that there is no outrage on the left.
19
posted on
08/16/2012 9:15:42 AM PDT
by
Drill Thrawl
(I can haz CW 2 now?)
To: C19fan
People here just don’t get it. There is no rule of law anymore if you are a banker(among other things). This is only one story of many with the same outcome. Criminal bankers who ruined the financial system of the world are walking free because they also paid for privilege to do so. They stole the money of the peon citizens.
Do you want another one to look at from a few days ago:
http://tickerforum.org/cgi-ticker/akcs-www?post=210150
And there was another one having to do with a pension fund.
And then we have the fact that A bank(BNYM) gets to keep segregated customer funds pledged by another bank. The customers who own the money are screwed.
http://market-ticker.org/akcs-www?post=210250
Now none of your money is safe anywhere.
And this is not just a democrat thing either. The GOP is every bit as dirty in the matter. Money rules the world. Figure it out.
20
posted on
08/16/2012 9:22:07 AM PDT
by
Revel
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