Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

MF Global Chief Who Oversaw Missing $1.2 Billion Also Top EPA Financial Adviser
Big Government ^ | December 29, 2011 | Wynton Hall

Posted on 12/29/2011 9:16:30 AM PST by Smokeyblue

The same man who oversaw MF Global’s $1.2 billion in missing funds, Bradley I. Abelow, is also currently listed on the Environmental Protection Agency’s website as the current chairman of the EPA’s Financial Advisory Board.

SNIP

Mr. Abelow also served as former New Jersey Governor Jon Corzine’s chief of staff before Mr. Corzine went on to become MF Global’s CEO. Interestingly, current EPA Administrator Lisa Smith also previously served as then-Gov. Corzine’s chief of staff. Whether the Corzine connection played any role in Mr. Abelow’s appointment to the chairmanship of the EPA’s Financial Advisory Board is as yet unclear.

Mr. Abelow, who as recently as July 2011 appears to have donated $30,800 in campaign donations to the Democratic National Committee and $5,000 in June to President Barack Obama, said over a dozen times during congressional hearings that he didn’t know how MF Global customers’ funds disappeared under his watch.

(Excerpt) Read more at biggovernment.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; News/Current Events
KEYWORDS: abelow; bankrupt; bankruptcy; bradleyiabelow; corzine; democrats; epa; fraud; mfglobal; missing; scandal; smith; taxes; theft

1 posted on 12/29/2011 9:16:39 AM PST by Smokeyblue
[ Post Reply | Private Reply | View Replies]

To: Smokeyblue

MF Global chief missing $1.2B is financial adviser to EPA

http://www.washingtontimes.com/news/2011/dec/27/mf-global-chief-missing-12b-financial-adviser-epa/

During two days of recent congressional hearings into how as much as $1.2 billion disappeared from MF Global customer accounts, the chief operating officer of the imploding investment firm responded again and again that he did not know.

Yet as the House and Senate interrogated Bradley I. Abelow and other top executives at MF Global Holdings Ltd., lawmakers did not mention Mr. Abelow’s role as a financial adviser for the Environmental Protection Agency, which as of Tuesday listed him as the chairman of its financial advisory board.

Even as he finds himself the public face of a bankruptcy and admitted to lawmakers that he had no idea how client funds disappeared, Congress and the administration have voiced no public concern about Mr. Abelow’s role advising the $8.6 billion government agency on its finances.


2 posted on 12/29/2011 9:17:59 AM PST by Smokeyblue
[ Post Reply | Private Reply | To 1 | View Replies]

To: Smokeyblue

Why do I not find this to be surprising?


3 posted on 12/29/2011 9:19:54 AM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Farmer Dean

“Bradley Abelow is an American businessman and political leader who formerly served as Chief of Staff to the Governor of New Jersey in the Cabinet of Gov. Jon Corzine. Prior to entering Governor Corzine’s Cabinet as State Treasurer, he was a top executive for the Wall Street firm of Goldman Sachs. He is currently Global Chief Operating Officer at MFGlobal”

MBA from Yale School of Management. Apparently it isn’t a very good school.....


4 posted on 12/29/2011 9:21:01 AM PST by EQAndyBuzz (Control the media, you control its citizens.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Smokeyblue

UN FREAKING BELIVEABLE


5 posted on 12/29/2011 9:21:27 AM PST by DeaconRed (The $4M Vacation MUST be exposed everyday. It is outrageous)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Smokeyblue

As Rush would say:
“Folks this is too easy - having more fun than a human being should be allowed to have....”

Liberals write their own copy for us.


6 posted on 12/29/2011 9:21:48 AM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 1 | View Replies]

To: Smokeyblue

TAKE OUT THE EPA. Yeah baby!!!!!!

Where the H is the EPA spending the money? (we know it went to their little propaganda projects)

1st place to look EPA. TIME TO GET THE GREEN EYE SHADE TYPES IN THE FBI TO DO A FULL AUDIT!!!


7 posted on 12/29/2011 9:21:59 AM PST by marty60
[ Post Reply | Private Reply | To 1 | View Replies]

To: Voter#537
"UN FREAKING BELIEVABLE"

No wait not with the community organizer in charge it is totally believable.

8 posted on 12/29/2011 9:23:27 AM PST by DeaconRed (The $4M Vacation MUST be exposed everyday. It is outrageous)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Smokeyblue

Den of thieves just rearranging deck chairs!


9 posted on 12/29/2011 9:24:21 AM PST by poobear (Facts, the TURD in the punchbowl of Liberal thought!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Smokeyblue

The republican candidates have so much ammo. If only they’d use it!!!!


10 posted on 12/29/2011 9:25:06 AM PST by jersey117 (.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jersey117

they are. ( in a circular firing squad)


11 posted on 12/29/2011 9:27:25 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Smokeyblue

Many need to go to jail on this.


12 posted on 12/29/2011 9:31:51 AM PST by CPT Clay (Pick up your weapon and follow me.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: EQAndyBuzz

I’m sure it’s a fine school.Some of the students turn out to be crooks.


13 posted on 12/29/2011 9:34:43 AM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Smokeyblue

Hee hee hee. bttt


14 posted on 12/29/2011 9:39:05 AM PST by Matchett-PI ("One party will generally represent the envied, the other the envious. Guess which ones." ~GagdadBob)
[ Post Reply | Private Reply | To 1 | View Replies]

To: EQAndyBuzz
MBA from Yale School of Management. Apparently it isn’t a very good school.....

Depends on what you mean by 'good'.

After all, this (using the term loosely) American businessman was smart enough to use the EPA to control the direction of U.S. businesses with the 'green' push so as to direct investing in the 'solar' industry where even investments that went broke were guaranteed by our tax money.

Was it not the EPA the directed the funding of, for example, Solyndra?

15 posted on 12/29/2011 9:41:22 AM PST by UCANSEE2 (Lame and ill-informed post)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Smokeyblue

“Criminal Capitalism” seems to be rampant in the democrat/socialist party.

Pray for America.


16 posted on 12/29/2011 9:41:36 AM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Voter#537; Carry_Okie

>>UN FREAKING BELIVEABLE

Not to those who've been paying attention. The wolves have been building chicken houses for quite a while... and their primary interest in the "Environment" is how environmental law can be used to manipulate supply, demand, and profitability.

----------------------------------------

The Game Statistics

So, who are these guys at the NRDC? Well, it’s an interesting list.

Natural Resources Defense Council Board of Trustees

Chairman

Frederick A. O. Schwartz, Jr.

Partner, Cravath Swaine & Moore; (a British Law Firm) Former New York City Corporation Counsel (under Mayor Ed Koch)

Executive Director

Frances Beinecke

Co-founder, The New York League of Conservation Voters (with RFK Jr.)

Trustee

Laurance Rockefeller

Private philanthropist; Former Chairman, Rockefeller Brothers Fund; Former chairman, Citizens Advisory Committee on Environmental Quality; Trustee, the Laurance Rockefeller Charitable Trust

Trustee

Thomas A. Troyer

Partner, Caplin & Drysdale; Former Chairman, the Foundation Lawyers’ Group; Former member of the IRS Commissioner’s Advisory Group on Tax-exempt Organizations; (no conflict of interest there?) Board member, the Carnegie Corporation of New York

Pres & Co-founder

John H. Adams

Former Assistant US Attorney (New York)

Vice Chair

Adam Albright

Board member, Redefining Progress; Board Chair, Population Communications International; Program Chair, Conservation International

Vice Chair

Alan Horn

Chairman & Chief Operating Officer, Warner Brothers

Vice Chair

Burks Lapham

Chairman, Concern Inc.; Director, Chesapeake Bay Foundation (a relatively benign group)

Vice Chair

George Woodwell

Founding Director, Woods Hole Research Center; Co-founder, Environmental Defense Fund (they banned DDT, Alar, etc.)

Co-founder & Treas

Richard E. Ayres

Partner, Howrey & Simon; Former Chairman, National Clean Air Coalition

Trustee

Patricia Bauman

Member, Pew Environmental Health Commission; Former Manager, National Institute for Environmental Health Sciences; Co-Director, The Bauman Foundation

Trustee

William Richardson

Former US Secretary of Energy; Former US Ambassador to the United Nations; Former US Congressman (D-NM)

Trustee

Michael Finnegan

Managing Partner, J.P Morgan Securities

 

Is this "Natural Resources" defense, or natural resource SUPPLIERS defense?

Now, let’s look at who gives the NRDC money, shall we?

Top Funders of NRDC

Funder

Total Donated

Comments

Descriptions in bold are major energy investors

Pew Charitable Trusts

$11,568,000.00

Sunoco money

Blue Moon Fund

$7,818,735.00

This is W. Alton Jones Money (Citgo)

Energy Foundation

$6,965,000.00

Launched by The John D. and Catherine T. MacArthur Foundation, The Pew Charitable Trusts, and The Rockefeller Foundation. The Joyce Mertz-Gilmore Foundation joined as a funding partner in 1996, and The McKnight Foundation joined in 1998. In 1999, The David and Lucile Packard Foundation joined to support two programs: the U.S. Clean Energy Program (now the Climate Program) and the China Sustainable Energy Program. In 2002, the William and Flora Hewlett Foundation joined to support advanced technology transportation and clean energy for the West.

John D. & Catherine T. MacArthur Foundation

$5,636,500.00

Bankers Life and Casualty money (investment portfolio unknown)

U.S. Environmental Protection Agency

$4,681,097.00

Your tax dollars at work subsidizing the interests of whom?

Turner Foundation

$3,795,167.00

CNN, and a lot more

Public Welfare Foundation

$3,500,000.00

Too confounded to determine

Joyce Foundation

$3,309,445.00

Timber Wealth

Charles Stewart Mott Foundation

$3,022,340.00

General Motors

Ford Foundation

$2,733,300.00

Ford

Beinecke Foundation

$2,150,000.00

Major player at Yale.

J. M. Kaplan Fund

$2,057,500.00

William Bingham Foundation

$1,995,000.00

Homeland Foundation

$1,733,000.00

San Francisco Foundation

$1,654,739.00

Rockefeller Brothers Fund

$1,377,510.00

Them again

McKnight Foundation

$1,365,500.00

Robert Sterling Clark Foundation

$1,310,000.00

Geraldine R. Dodge Foundation

$1,310,000.00

Bauman Family Foundation

$1,226,000.00

Nathan Cummings Foundation

$1,220,000.00

Educational Foundation of America

$1,210,000.00

Richard & Rhoda Goldman Fund

$1,205,000.00

Mertz Gilmore Foundation

$1,201,000.00

Carnegie Corporation of New York

$1,200,000.00

Park Foundation

$1,198,010.00

New York Community Trust

$1,186,821.00

Overbrook Foundation

$1,182,585.00

Surdna Foundation

$1,147,000.00

Bullitt Foundation

$1,122,675.00

William & Flora Hewlett Foundation

$1,075,000.00

Note also the participation with the Energy Foundation

Quod erat demonstratum.

Most, if not all of these people at NRDC are energy investors.

 

--------------------------------------

Same ol' same ol'.

With the usual kudos to FReeper CarieOkie

http://www.wildergarten.com/wp_pages/articles/nrdc_energy_racketeering.html
 

17 posted on 12/29/2011 9:50:47 AM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Smokeyblue

the coal plants ate my homework!


18 posted on 12/29/2011 9:55:18 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All
REPUBLICANS SHOULD BE ALL OVER THIS Abelow and Corzine misled Congress on several points:

1. When Congress asked Abelow about "previously working with Corzine," Abelow reluctantly mentioned being Gov Corzine's COS. Abelow MADE NO MENTION of Corzine appointing him to head NJ's Dept of the Treasury---where the two con artists controlled ALL of NJ's tax assets.

2. Abelow and Corzine SHOULD have been pressed about their formation of an investment company while they were principals of NJ govt and controlled its assets. The two "financial geniuses" later said they did not know that was illegal.

3. Corznie should have been asked about using his Senate seat to pass a law that benfited a troubled Japanese bank----the same bank that was taken over by Christopher Flowers who was overseeing Corziner's "blind trust." Corzine said he did not know the law benefited him. Flowers is also an MF principal in the missing $1.2 billion.

4. Corzine should have been asked how much G/S made financing muni bonds while JC was NJ governor----and if bond rigging took place by the Dept of Community Affairs. (Corzine later appointed DCA head Suzan Bass Levin to a millionaire's perch at the Pork Authority).

5. Corzine should have been asked about missing $8 billion NJ School funds, the missing $17.5 billion stimulus Obama sent NJ, and the $8 billion debt he left N

===================================================

ANALYSIS It defies imagination and common sense that the two "financial geniuses" can't figure out where the $1.2 billion is.

Monies were transferred in and out of MF Global continually.....all done by wire transfer------EFT. There's a clear record of when, where, and how much for EACH wire transfer......like your cell phone bill. Each call is listed, the number dialed, the time of the call, and the duration. So they absolutely know exactly who got the $$, and when it was received.

Corzine was not able to remove the customer funds by himself. It required most of the key back office personnel to do this. ..........and all had to know that it was 100% illegal to do so. Yet NOONE blew the whistle, and called the regulators? This underlines the corrupt corporate culture that predominates today on Wall Street.

So, why did they go along? Were they assured it would be put back in a day or two......that it was a temporary glitch? If they didn't agree, the firm would go under? Their jobs would be lost if they didnt go along?

Savvy observers say many MF insiders are now working out deals with the Feds, to name names and provide direct testimony as to who exactly ordered the customers' funds to be removed from the accounts.

Count on direct testimony that Corzine ordered illegal acts.......written records are also to surface. Corzine is toast. Obama and the Dems will toss him under the bus. Corzine is making a huge mistake by underestimating the anger of Jerseyans he left holding the bag----he socked us with massive debt, bankrupt state agencies, and a state pension fund 25% lighter,

Corzine departed with billions of tax assets unaccounted for. Throwing him under a bus is too good for him......considering the damage he's caused.

19 posted on 12/29/2011 10:05:16 AM PST by Liz
[ Post Reply | Private Reply | To 1 | View Replies]

To: UCANSEE2

After the latest doc dump of the Climategate emails....someone over at WUWT was going through them an ran across correspondence between Goldman Sachs, the World Bank and the ‘scientists’. Interesting stuff.

I can’t find the original link I’m referring to....but this will have to do.

http://junkscience.com/2011/11/23/climategate-2-0-alarmists-looked-to-ally-with-goldman-sachs/


20 posted on 12/29/2011 10:30:01 AM PST by RushIsMyTeddyBear (A MUST WATCH: http://www.youtube.com/watch?feature=player_embedded&v=KeOLurcQaqI)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Smokeyblue

Some investigative journalist is missing a big opportunity to expose the corruption in this administration and make a big name for him/herself. Oops - can’t do that - wrong party.


21 posted on 12/29/2011 10:45:04 AM PST by jersey117 (.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Liz
REPUBLICANS SHOULD BE ALL OVER THIS

Don't hold you breath. And it isn't that the Republicans are stupid. THEY ARE IN ON IT!

22 posted on 12/29/2011 11:09:51 AM PST by Roninf5-1
[ Post Reply | Private Reply | To 19 | View Replies]

To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list


23 posted on 12/29/2011 11:25:11 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Smokeyblue

This insanity must stop!~!! Missing 1.2 BILLION and he shrugs.....and he’s in charge of the finances of the EPA, which is in the billions.......wait for the shrug.


24 posted on 12/29/2011 4:57:32 PM PST by Ann Archy ( ABORTION...the HUMAN Sacrifice to the god of Convenience.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: EQAndyBuzz
And as if by magic...

Solyndra-Gate Opens Into A Large Den Of Corruption

25 posted on 12/29/2011 5:28:04 PM PST by UCANSEE2 (Lame and ill-informed post)
[ Post Reply | Private Reply | To 15 | View Replies]

To: marty60
Where the H is the EPA spending the money?

From Wikipedia: Annual budget, $10.486 billion (2010). Ever hear of Solyndra? One of several near billion dollar commitments of taxpayer dollars that fall outside of the Agency's budget, but for which taxpayers are on the hook. In other words, before losing $1.2 billion of his clients money mismanaging MF Global, he was losing billions of taxpayers' money.

It's a gift. Who lets you lose billions of other people's money?

26 posted on 12/30/2011 3:09:10 AM PST by Lonesome in Massachussets (Ceterum autem censeo, Obama delenda est.)
[ Post Reply | Private Reply | To 7 | View Replies]

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson