Shazaam!
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 ...
The big question is the collateral damage to the world financial institutions. Some of the "too big to Fail" U.S. Banks are very very heavy with derivatives.
Are we being played into the hands of the Globalists? Probably.
He was shocked!-—SHOCKED!— to discover that the funds were missing!
He was shocked!-—SHOCKED!— to discover that the funds were missing!
The elites that rule us really do believe we are incredibly stupid and then something like this comes along to prove them right. How did they get in charge to begin with — we let them.
Corzine has always been recognized as the crook he was and is. The question is: who got the money, and what country will Corzine retire in to enjoy the money he took? Just another product of the criminal left.
Shazaam!
Spoken like a corrupt Senator with other people’s money.
Has anyone audited Goldman since he left to see if he had a similar management style there?
Not to worry Jon. I’m sure it will turn up in the form of off-shore bank accounts and anonymous donations to the DNC.
Why is this being investigated by the AG Committee?
This one will not simply “blow over”. It is too big and too brazen. and Corzine is too well connected to avoid being slammed. And this is an election year. Very bad signs.
When investors/traders/commodities hedgers take a loss of 1.2 Billion Dollars it is a serious matter.
Corzine is simply lying.
NOW, who is the real force behind this debacle? My money says the Globalists intend to destroy the Global monetary system so they can gain total control. Sound tinfoil hat? I don’t think so.
Did he look under the couch cushions? Under the mattress? I mean the money has to be somewhere. I found a couple of bucks in change after a party in my couch, did he check his?
MF Global and the great Wall St re-hypothecation scandal
"Up until now the assumption has been that the funds missing had been misappropriated by MF Global as it desperately sought to avoid bankruptcy.
Sadly, the truth is likely to be that MF Global took advantage of an asymmetry in brokerage borrowing rules that allow firms to legally use client money to buy assets in their own name - a legal loophole that may mean that MF Global clients never get their money back. "
If, suppose, a lien for about $1.2 billion was placed on his money (and I’m pretty sure that’s most of his net worth) I think he would get a whole lot less stunned and a lot of the corruption surrounding Wall Street would also suddenly become less stunned.
What a liar! They should have put the handcuffs on him right them and there and frogmarched him to jail.
"I never intended"; "I don't know"; "I don't understand"--then how the heck did you amass a fortune of $ 500 million at Goldman Sachs?
This is a Wall St. insider, former Senator, and forme Governor of a State--and he doesn't know how this happened?
He's a plunderer, straight up. Book him, Danno.
MF Global was a commodities trading company. Who unknown to many of their commodities customers were extremely heavy in the derivatives market. (much more speculative) At this point it seems many of the "customers" who lost money were AG producers who hedged their livestock and crops. The fraud was much much bigger than that.
he was stunned... i'll be even MORE shocked if it's ever found
The very instant he said “I DON’T KNOW” they should have put the CUFFS on him and led him away.
I’m even more shocked that anyone with half the sense of Slow Joe would invest their money with him! The guy was, is and will always be a crook with no morals, scruples, ethics, etc.
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