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To: maggief
Can't agree..this was pure hubris on Corzine's part..he's a master of the universe, and a very smart guy..heck..Joe Biden says so...he was convinced that he had the right strategy..he bet the ranch..the firm.....and when the value of the Euro bonds he'd bought collapsed..he was faced with an immediate margin call..for big bucks...he couldn't borrow any more $$, and if he didnt' meet the margin calls immediately, they'd sell out the position, and then there would be no chance that the firm could bounce back...it would be insolvent..so he convinced himself that he was still right..and in a day or so..the positions would turn around..so he tapped the nearets cookie jar..the customer cash..

He's committed perjury today, and also sub,itted false documents to the regulators..he faces a trial, pblic humiliation, lots of jail time, and loss of all of his fortune.. Watch...he takes his own life...just loo at his demeanor in his testimony today...he shoudl be placed on a suicide watch..

58 posted on 12/13/2011 2:18:07 PM PST by ken5050 (Support Admin Mods: Doing the tough, hard, dirty jobs that Americans won't do...)
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To: ken5050

Abelow also needs to be nailed——he misled Congress when asked about his relationship w/ Corzine.

Said he was Goc Corz’s COS-—but that was after Abelow held a top post-—as NJ Treasury Secy-—where he and Corzine controlled ALL Nj tax assets.


64 posted on 12/13/2011 2:49:39 PM PST by Liz
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To: ken5050; Liz; CutePuppy
Earlier this year, Corzine threw a huge Obama fundraiser, and Corzine’s name was dropped as Geithner’s predecessor.

Here's another BOMBSHELL ...

(no link)

Treasury rumors focus on Corzine As secretary wavers, ex-governor is eyed
Star-Ledger, The (Newark, NJ) - Friday, August 5, 2011
Author: Ginger Gibson and Salvador Rizzo, Statehouse Bureau
As speculation about how long Timothy Geithner will remain as U.S. Treasury secretary simmered yesterday, former Gov. Jon Corzine ‘s name began to bubble up as a possible replacement.

Corzine , considered for the nation's top financial office after Obama was elected, has emerged on speculative short lists as someone who could take over if Geithner exited before the president's first term expires.

Several sources close to Corzine while he was still in public office said yesterday the former governor has always had an interest in holding the job.

But the political climate in Washington could make Corzine ‘s selection impossible, insiders said. The country faces dire economic prospects and a hyperpartisan divide in Congress.

The New York Times reported yesterday that Geithner will likely stay through the remainder of Obama’s first term, but hasn't made up his mind and could depart sooner because of family concerns and the strain of years in Washington. Media outlets from the Associated Press to the Los Angeles Times reported his departure was a possibility.

The uncertainty about Geithner ‘s future at the Treasury spurred speculation in media outlets ranging from CNBC and Reuters to Politico and MarketWatch that Corzine , a former U.S. senator and Goldman Sachs chairman, could replace him.

It was dismissed yesterday by Corzine spokesman Josh Zeitz.

“This has all been idle speculation,” he said. “It's just another example of how the 24-hour news cycle, when it has nothing else to report, finds a bunch of coincidental evidence.”

Since leaving public office, Corzine has worked at New York investment firm MF Global, a fledgling company he vowed to transform into a power player on Wall Street.

“All I understand and based on all his behavior, he has no intention to do anything other than invest his heart and soul into reinvesting MF Global into a world-class investment bank,” said Angelo Genova, a Newark attorney and Democratic backer.

But in a recent bond offering at MF Global, investors were told if Corzine left to take a federal appointed position before 2013, the interest rate in the payout would increase by 1 percentage point.

(snip)

66 posted on 12/13/2011 2:57:51 PM PST by maggief
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