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MF Global Money Found in Britain?
CNBC ^
| 11/29/11
| Ben Protess and Azam Ahmed
Posted on 11/29/2011 5:24:58 AM PST by Libloather
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To: chimera
Corzine's "problem" is that there is NO cover up..everything's clearly out there..Corzine wasn't thinking...he faced massive margin calls, or his positions are closed out, and the firm goes belly up..he was convinced..after all he is so smart...Biden says so..that he borrowed the $$ for a few days..the markets turn around they put it back..all's good.
Here's the key, as I've said before...Corzine can't switch out all the $$ himself..he needed several key senior backoffice staff to do it...they knew it was illegal..but they believed Corzine, and also they wanted to save the firm, AND their jobs...now they are all cutting deals with Feds..in a trial, this is easy for the jury to follow..
Corzine might try to cut a deal...give up some other WS biggies who are dirty...for a lesser sentence...but he's gonna do HARD time..and a lot of it..
21
posted on
11/29/2011 9:32:27 AM PST
by
ken5050
(Support Admin Mods: Doing the tough, hard, dirty jobs that Americans won't do...)
To: ken5050
At this point, is there anything that would keep him from skipping out? AFAIK, he hasn't been arrested. Has a court ordered that he surrender his passport? I got victimized in a relatively small-time scam and the first thing the perps did when the SEC started nosing around was head off to Mexico. There are any number of countries out there who would give refuge to these kinds of economic fugitives, simply as a dig to the US.
22
posted on
11/29/2011 10:02:35 AM PST
by
chimera
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