Please Donate Toward The Purchase And Keep FR Up And Running!
Posted on 02/19/2012 3:44:28 PM PST by Libloather
Visit Jon at his house.
This whole “missing” $26 billion reminds me of the scene from Animal House where Otter is telling Flounder not to worry about the damage to his brother’s car, and that they’ll all swear that it was parked outside the prior evening, and the next morning... it was gone.
If justice was done he wouldn’t have a house other than the Big House.
The trail will lead back to some of the big banks. And it will never be exposed.
MFG is missing 1.6 billion dollars (these are the latest numbers). Everything is done by computer, and every withdraw from a customer account goes to another account are monitored. How can the trustees (who have a conflict of interest on this matter, they represent the stockholders in this bankruptcy vs the interest of the customers who are last on the list of creditors) not find who illegal hit the keyboard to make the computer withdraw from customer accounts. Someone had to hit the keyboards that made the illegal withdraws. Some clerk ordered by his boss is still guilty of a crime. Arrest him and sweat him to talk. That is how real investigations work if everyone in management creates a wall of silence.
Don’t know where the money went. What a crock, unless Corzine did his transactions with suitcases full of cash.
The more applicable phrase from that scene is Otter tells flounder “you f#!ked up, you trusted us”. The customers played the part of flounder perfectly only it ain’t funny and the POS criminal democrat will probably walk, completely free.
Oh. Don’t worry. Even if it’s in a billion pieces, they can glue it.
Glue does marvelous things these days. You could swear something was whole cloth and made out of it, but no! It’s been glued together, like some marvelous mess, and no one will ever find a thing!
Every penny of every transaction is recorded on each side of the trade. If they don't know where the money is, it's because evidence was destroyed, itself a crime.
And here I thought Sarbanes-Oxley was to prevent this sort of thing.
One more thing...money could have been daisy-chained to an affiliate in London, where the bankruptcy laws are very different than the US. Once the money reached the UK, even if the transfers along the way were illegal, the funds will be very very hard to get.
Corzine SPONSORED that bill...and is clearly guilty of having broken that law. Sweet.
“the funds will be very very hard to get.”
“Hard to get” is one thing....”we don’t know where it went” is another.
So, lets see, you have $250,000 in assets at MFG, you've borrowed $100k to acquire those assets, you think that you're good for $150k. Wrong! MFG has pledged $140k of your assets for the cash loan. You only have $110k on account, $40k of what you thought was yours vanishes when MFG defaults. Tough luck!
What about those without a margin account. Were they affected?
“How convenient” ping
With enough people (forensic accountants) they can track the transactions. The bankruptcy judge is paying a truckload of money for accountants and lawyers. The whole report is a ruse and will be drug out until after the election and then it will be made to go away! Like the Government Motors fiasco, they will change the rules and play the system to achieve the results that they want, and those results will not be Corzine going to jail or the customers getting their money back.
...is a lie. I hope they make that statement in a forum where false statements bring jail time.
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