Skip to comments.No Criminal Case Is Likely in Loss at MF Global
Posted on 08/16/2012 8:51:53 AM PDT by C19fan
A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.
After 10 months of stitching together evidence on the firms demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.
(Excerpt) Read more at dealbook.nytimes.com ...
Shocker. The most corrupt administration in history does it again.
1 Billion dollars cannot slip through a porous foundation.
1 Billion dollars means a hole big enough to walk through.
So much for Sarbanes-Oxley. Or is that only applicable to non-Obama bundlers?
No penalty for stealing peoples assets.
THIS IS OUTRAGEOUS!!!
I hear that Corzine is bundling money for Obama’s re-election.
Wasn’t Sarbanes Oxley supposed to prevent this?
did anyone think this guy was going to get anything other than a soft landing somewhere tropical after the “full and through investigation” by “the Attorney General’s office”..
Yes, but only if the guilty are not Obama supporters.
Someone said this before: our grandfathers would be shooting by now.
They know where every cent went.
If they don't, it's because someone destroyed the backup/transaction journal files, which I'm fairly certain is also illegal.
I don’t think Sarbanes-Oxley applies here.
This is simple embezzelment.
I smell a socialist democratic rat in this investigation.
Not really a surprise.
I know a few people who had money invested via MF Global. Tough luck.
Nope, nothing wrong here. Probably just a rounding error on a spreadsheet by an intern.
This should be made a key talking point at the RNC convention and any debate that R & R participate in.
Obama railing against Wall Street, but does not prosecute them. Hmmm...
Well, the good news is no trial was held, it would have been a show trial with some incompetent prosecutor throwing the case. When the DOJ falls back into GOP hands, they can take another look at this.
I guess Obama-Biden never took the chains off Wall Street sense he has no indicted anyone
If Corzine hasn’t spent (or donated to Bath-House Barry) all the money he has stolen, he can certainly afford car starters and food tasters.
Funny that there is no outrage on the left.
People here just don’t get it. There is no rule of law anymore if you are a banker(among other things). This is only one story of many with the same outcome. Criminal bankers who ruined the financial system of the world are walking free because they also paid for privilege to do so. They stole the money of the peon citizens.
Do you want another one to look at from a few days ago:
And there was another one having to do with a pension fund.
And then we have the fact that A bank(BNYM) gets to keep segregated customer funds pledged by another bank. The customers who own the money are screwed.
Now none of your money is safe anywhere.
And this is not just a democrat thing either. The GOP is every bit as dirty in the matter. Money rules the world. Figure it out.
2 AMERICAS!!! If you are a DEMOCRAT, nothing....NOTHING will happen to you!! But if this were a Republican, he would be in PRISON FOR LIFE!
Time for a MARCH or something!! People lost their NEST EGGS, just like the GM Bond Holders got screwed!
This is perhaps horrid but part of me wished people like Corzine and Fuld would do what Augustus Melmotte did in Trollope’s “The Way We Live Now” when he was exposed.
Key talking point?!?! Republicans are just as big in the bank fellating department as Demoncrats. Hell, ~70% of the Tea Party noobs are already voting bankster wishes.
It will be a cold day in hell when politicians hold the financial industries feet to the fire...
No, he wouldn’t. He’s in the FINANCIAL INDUSTRY. They OWN BOTH PARTIES. He would be sitting on the same beach, or as Denninger noted today, considering setting up a hedge fund.
What this should tell you is DON’T CRY WHEN YOU LOSE ALL OF YOUR ASSETS WITHIN FINANCIAL INSTITUTIONS. You’ve been well warned for several years now. You know they are all corrupt. People need to get over their “normalcy bias” and act accordingly.
Thank you, although I would say the lust for power rules the world and they (collectively DNC/RNC) will use every bit of it (tools= money) to retain power...
They will pervert the law for their benefit and get some "tool" to deem them not guilt, even though everyone out in the real world can smell the "rot" coming from the elected officials.
It will not change until the people (and however you want to candy coat it) hold these parasites accountable (marching on DC) with the clear intent of throwing every one of our elected rulers, to include the members of the supreme (farce) court and the cowards in Uniform (JCS) in the brig to be held for trial for treason.
Sound a bit harsh? I respectfully submit to you, NOT BY HALF.
If the reports are true, your government under the auspices of DHS (who's charter is to protect the homeland, if I am not mistaken) have ordered 1.2 billion 40cal JHP rounds......
DHS, Social Security Administration, NOAA.
WTF, we are not stupid.
worms are salivating at the thought of devouring his rotten carcass.. as are more than a few investors who got jobbed by swindlers, scalawags and gubamint officials.
In summary, the wholly owned subsidary of Wall St. (US Gov.) has found nothing wrong with segregated customer funds being used to cover the bad bets of their Wall St. masters. Four years after collapsing the economy the oligarchs continue to fleece the public thanks to their relatively cheap investment (a few million dollars here and there) in the political class. Zero accountability is now permanently established for the criminal banking class as well as the precedent that “your” money is really “their” money if it resides in a financial institution.
The downward spiral continues ...
Shortly after the news broke about the 1.6 billion being “lost”, obama bragged that he had taken in over a billion in campaign donations. VERY short lived story.
Reported once. I happened to catch both.
connect the dots.
Corzine was a bundler for baraq in ‘08 and still is.
Hmmm. News media just can’t seem to generate any curiosity about this. Wonder why?