Free Republic 3rd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $22,213
26%  
Woo hoo!! And the first 26% is in!! Thank you all very much!!

Keyword: corzine

Brevity: Headers | « Text »
  • Corzine 'stunned' that MF Global couldn't find missing funds

    12/08/2011 7:05:09 PM PST · by Texas Fossil · 69 replies
    LA Times Blog ^ | December 8, 2011 | 11:40 am | None stated
    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.
  • Which is more damaging to USA, MF Global or Fast and Furious? (Vanity)

    12/08/2011 12:58:01 PM PST · by jacquej · 22 replies
    C-Span Hearings | Jacquej
    I am watching Corzine, since it has the potential to take down the entire system. Which is worse, the corruption of our entire financial system, or the corruption of our justice system. Or is everything just about "gone down the drain", and the USA, as we once knew it, over.
  • LIVE BLOG: MF Global Ex-CEO Jon Corzine Faces Congress

    12/08/2011 11:11:17 AM PST · by milwguy · 6 replies
    wsj ^ | 12/08/2011 | wsj
    Jon Corzine's professed ignorance of what's become of his former customers' money doesn't fly with John Roe, a leading member of the 7,000-account strong Commodity Customers Coalition, an ad-hoc group pushing for MF client funds to be released. "Ignorance is not a defense and it implies that his subordinates are at fault," says Roe, who is watching Thursday's hearing from an overflow room on Capitol Hill. "How did he run a state?"
  • MF Global and the great Wall St re-hypothecation scandal (Where the Money Went - Must Read)

    12/08/2011 10:49:36 AM PST · by mojito · 19 replies
    Reuters ^ | 12/7/2011 | Christopher Elias
    A legal loophole in international brokerage regulations means that few, if any, clients of MF Global are likely to get their money back. Although details of the drama are still unfolding, it appears that MF Global and some of its Wall Street counterparts have been actively and aggressively circumventing U.S. securities rules at the expense (quite literally) of their clients. MF Global's bankruptcy revelations concerning missing client money suggest that funds were not inadvertently misplaced or gobbled up in MF’s dying hours, but were instead appropriated as part of a mass Wall St manipulation of brokerage rules that allowed for...
  • Corzine Playing Obama's Blame Game

    12/08/2011 10:28:16 AM PST · by CaroleL · 7 replies
    TalkingSides.com ^ | 12/08/11 | CaroleL
    Former US Senator and New Jersey Governor Jon Corzine will testify before a House panel today to explain how MF Global, the firm he led for over a year and a half, collapsed and now can't account for $1.2 billion in client funds. Taking a page from the playbook of his political ally President Barack Obama, Mr. Corzine is expected to blame his predecessors and others rather than admit to his own failures.
  • Fmr. Senator Corzine to Testify in MF Global Investigation (Live)

    12/08/2011 10:27:51 AM PST · by Nachum · 6 replies · 1+ views
    CSPAN ^ | 12/8/11 | CSPAN
    The House Agriculture Committee is questioning former MF Global CEO Jon Corzine on the bankruptcy of the financial firm and a dispute over $1.2 billion in missing funds. According to the Committee's website, the purpose of the hearing is "to examine the facts and circumstances that led up to the bankruptcy, and the efforts underway to recover customer funds and return them to their rightful owners." The former Senator and New Jersey governor is at the center of a dispute over $1.2 billion in missing customer funds. The trading firm’s bankruptcy is the 8th largest in the nation's history.
  • Corzine blames predecessors for MF Global's fall (Bush's Fault!)

    12/08/2011 9:16:47 AM PST · by tobyhill · 22 replies · 1+ views
    Google ^ | 12/8/2011 | DANIEL WAGNER / AP
    Jon Corzine will tell a House panel Thursday that he doesn't know the location of client money that went missing when MF Global failed. And he will argue that he inherited a firm doomed by the risks his predecessors took. Yet Corzine says he accepts responsibility for the firm's risky bets and says its customers' losses weigh on his mind "every day — every hour." The former U.S. senator was subpoenaed to explain how MF Global, which he led for about 20 months, collapsed into the eighth-largest bankruptcy in U.S. history and why an estimated $1.2 billion in client funds...
  • Corzine sorry, puzzled by missing MF Global money

    12/08/2011 9:02:30 AM PST · by Hojczyk · 25 replies
    Yahoo Finance ^ | December 8,2011 | Sarah N. Lynch
    Former MF Global chief Jon Corzine apologized to customers, employees and investors who have suffered because of the brokerage firm's collapse, but said he does not know where missing customer money is. "Their plight weighs on my mind every day -- every hour," Corzine, a former U.S. senator, said in 21 pages of remarks prepared for delivery on Thursday before the House Agriculture Committee. "I simply do not know where the money is, or why the accounts have not been reconciled to date," he said. Corzine's contrite but defensive remarks are his first since MF Global's October 31 bankruptcy and...
  • Corzine: 'I Simply Do Not Know Where The Money Is'

    12/08/2011 8:47:58 AM PST · by lbryce · 28 replies
    Wall Street Journal ^ | December 8, 2011 | SCOTT PATTERSON and AARON LUCCHETTI
    A contrite Jon S. Corzine will express both sorrow and a firm defense of his actions Thursday in his first public appearance since the collapse of MF Global Holdings Ltd. in late October. "Recognizing the enormous impact on many peoples' lives resulting from the events surrounding the MF Global bankruptcy, I appear at today's hearings with great sadness," Mr. Corzine plans to say in testimony prepared for a hearing by the House Agriculture Committee, which subpoenaed the former MF Global chief executive Friday. A copy of the testimony was released early Thursday on the panel's website. The testimony Thursday is...
  • MF Global Ex-CEO Jon Corzine Faces Congress...Live Blog (First time since 1908)

    12/08/2011 7:40:41 AM PST · by milwguy · 15 replies
    wsj ^ | 12/08/2011 | wsj
    Ex-MF Global CEO Jon Corzine’s testimony later today will mark the first time since 1908 that a former senator has been subpoenaed to testify before his former congressional colleagues, according to Senate historian Donald Ritchie. That year, two Senators who shared the same last name but were unrelated were called to testify about a corporate lobbying scandal. Corzine, a Democrat, represented New Jersey in the Senate between 2001 and 2006. In that 1908 hearing, former Sens. Marion Butler of North Carolina and Matthew Butler of South Carolina testified in a House investigation to probe whether The Electric Boat Co. of...
  • Corzine "Simply Does Not Know Where The Money Is" ... Jon Corzine's Complete Testimony To Congress

    12/08/2011 7:18:41 AM PST · by SeekAndFind · 45 replies
    Zero Hedge ^ | 12/08/2011 | Tyler Durden
    Probably far more anticipated than the monetary announcements out of BOE (which just announced it is keeping rates at a record low of 0.5%, but no more QE), or even the ECB, and certainly far more than the latest and not greatest European summit which begins today, is the 9am testimony out of the House Agriculture Committee by one "Honorable" Jon S. Corzine, as well as the Q&A that will follow. Naturally the Q&A will be the focus, but as for the prepared remarks, they have just been released and are presented below. The choice selection: "Obviously on the forefront...
  • Corzine: 'I don't know where the money is'

    12/08/2011 6:08:41 AM PST · by maggief · 51 replies
    CNN ^ | December 8, 2011
    NEW YORK (CNNMoney) -- Jon Corzine, the former chief executive officer of the bankrupt broker MF Global, apologized for his firm's failure Thursday and told a House committee that he doesn't know where the missing money went. "I simply do not know where the money is, or why the accounts have not been reconciled to date," said Corzine, in prepared testimony to the House Agriculture Committee on Thursday. He also apologized "to all those affected." "My sadness, of course, pales in comparison to the losses and hardships that customers, employees and investors suffered as a result of MF Global's bankruptcy,"...
  • Jon Corzine to tell House panel he doesn’t know where customers’ money went

    12/08/2011 5:54:33 AM PST · by crosshairs · 24 replies
    Washington Post ^ | 12/8/11 | David S. Hilzenrath
    Jon S. Corzine, the former U.S. senator and New Jersey governor who presided over the collapse of the commodities brokerage MF Global, says he cannot explain what happened to “many hundreds of millions of dollars” that the firm was holding for customers. In testimony prepared for delivery to Congress on Thursday, Corzine says he was “stunned” to learn shortly before the firm sought bankruptcy protection at the end of October that MF Global could not account for the money. “I simply do not know where the money is, or why the accounts have not been reconciled to date,” the former...
  • Corzine's fortune could invite more lawsuits (Obama's Wall Street friend stole billions)

    12/07/2011 3:42:13 AM PST · by tobyhill · 27 replies
    google ^ | 12/7/2011 | MARCY GORDON / ap
    The millions that Jon Corzine amassed as head of Goldman Sachs have become an alluring target for investors who were crushed by the collapse of MF Global, the brokerage firm he led until earlier this month. And Corzine isn't the only one who may be financially vulnerable after the eighth-largest bankruptcy in U.S. history. Others include MF Global's other top executives; its auditor, PricewaterhouseCoopers; and some big Wall Street banks. Even MF Global itself, which can't be sued while in bankruptcy protection, could sue its former executives.
  • EXCLUSIVE: At House hearing Thursday, Corzine expected to plead the Fifth

    12/07/2011 2:47:23 PM PST · by Free ThinkerNY · 14 replies
    nypost.com ^ | Dec. 7, 2011 | MARK DeCAMBRE and  KAJA WHITEHOUSE
    Former MF Global CEO Jon Corzine will not answer questions from a congressional committee seeking to get to the bottom of the brokerage firm’s collapse, The Post has learned. Corzine, who has been subpoenaed to testify before the House Agriculture Committee tomorrow, is expected to plead the Fifth Amendment in response to most hard-hitting questions, sources said. That means the one person who may know the whereabouts of the $1.2 billion in missing customer cash will not be giving up much. One source close the committee said while he might provide a limited statement, Corzine — the former New Jersey...
  • MF Global fallout delays U.S. farm seed, land deals

    12/06/2011 10:14:23 PM PST · by Razzz42 · 11 replies
    reuters.com ^ | Tue Dec 6, 2011 | Reporting by Tom Polansek; Additional reporting by Jonathan Spicer in New York and Dave Clark in Was
    CHICAGO (Reuters) – For the first time in 25 years, Minnesota farmer Dean Tofteland has missed his deadline to buy seed for next spring’s corn and soybean crops. With $200,000 of his money yet to be returned from the accounts of MF Global, his former broker, the 49-year-old farmer has missed a $5,000 discount for early buyers, and is watching friends and neighbors snap up the best varieties of seeds. In the latest sign of how MF Global’s failure is continuing to cascade across the commodity industry, Tofteland and other farmers who have yet to recover more than a third...
  • Slick Willism?

    12/06/2011 6:50:07 PM PST · by afraidfortherepublic · 8 replies
    National Review -- The Corner ^ | 12-6-11 | Victor Davis Hanson
    There are some preliminary reports about Bill Clinton’s purported $50,000-a-month retainer — paid out to Teneo, a firm where he is chairman of the board — from his friend Jon Corzine’s now broke MF Global. It reminds of Newt Gingrich’s getting $30,000 a month for his work as a “historian” for Freddie Mac up until the eve of its crack-up. One comes away with a sort of despair that our most prominent politicians, who have already done quite well in private and public life, still cannot refrain from cashing in on their contacts for even more cash. The symptoms are...
  • Senate panel to subpoena Corzine on MF Global

    12/06/2011 1:41:56 PM PST · by NormsRevenge · 28 replies
    Yahoo ^ | 12/6/11 | Marcy Gordon - AP
    WASHINGTON (AP) — A Senate panel has voted to subpoena former Sen. Jon Corzine to testify about his role leading MF Global. The trading firm filed for bankruptcy on Oct. 31 after a disastrous bet on European debt. Nearly $1.2 billion is estimated to be missing from customer accounts. Sen. Debbie Stabenow, chairman of the Senate Agriculture Committee, said Corzine's testimony at the Dec. 13 hearing is essential to learn what happened. The vote comes just days after the House Agriculture Committee took similar action to force Corzine to appear at a hearing Thursday. Corzine, a Democrat, represented New Jersey...
  • Jon Corzine is above the law

    12/06/2011 11:21:24 AM PST · by jpl · 12 replies
    The Washington Times ^ | Thursday December 1, 2011 | Eric Golub
    Yet unlike Jerry Sandusky, Jon Corzine will never be held accountable for his misdeeds. Jon Corzine is above the law. For those horrified at the comparison between these two vile men, it is not offered lightly. Most people of all political stripes agree that Jerry Sandusky should burn in a fiery pit of hell. Even people who are against torture would consider making him an exception. The former Penn State football coach sexually violated underage boys. The word "evil" is tossed around cavalierly, but Sandusky's actions fit the bill.
  • Corzine's MF Global Was A Scam Right From The Get-Go

    12/06/2011 9:59:07 AM PST · by Why So Serious · 4 replies · 2+ views
    Earlier this year MF Global issued Investment Grade bonds. In the underwriting process they added a clause to the bonds ... IF Jon Corzine is chosen to be the Secretary of the Treasury the bonds will have an additional 1% kick-in. I would say that was like saying, "Hey, there is a good chance that Jon Corzine is going to be Secretary of the Treasury and you will get another 1% on these bonds." Today bondholders would probably prefer that the clause say that ... "If Jon Corzine takes down the firm you will receive back your principal."This is a...
  • Senator Shelby slams CFTC over MF Global

    12/06/2011 9:10:09 AM PST · by NormsRevenge · 10 replies
    Yahoo ^ | 11/6/11 | Dave Clarke and Sarah N. Lynch - Reuters
    WASHINGTON (Reuters) - The top Republican on the Senate Banking Committee on Tuesday criticized the Commodity Futures Trading Commission's handling of MF Global's meltdown and said its chief is "evading" questions about his role in overseeing the company. Senator Richard Shelby said MF Global customers are waiting for their money to be returned while a "bewildered" CFTC searches for the funds. "The victims of MF Global, I believe, deserve better," Shelby said. Shelby made his comments at a Senate Banking Committee hearing on the implementation of the 2010 Dodd-Frank financial oversight law. CFTC Chairman Gary Gensler is testifying at the...
  • Claim: Clinton Collected $50K Per Month From MF Global

    A former MF Global employee accused former president William J. Clinton of collecting $50,000 per month through his Teneo advisory firm in the months before the brokerage careened towards its Halloween filing for Chapter 11 bankruptcy. Teneo was hired by MF Global’s former CEO Jon S. Corzine to improve his image and to enhance his connections with Clinton’s political family, said the employee, who asked that his name be withheld because he feared retribution. “They were supposed to be helping Corzine improve his image as a CEO—I guess you can tell how that went,” he said. Corzine resigned as CEO...
  • Claim: Bill Clinton Collected $50K Per Month From MF Global

    12/06/2011 4:39:41 AM PST · by DeaconBenjamin · 11 replies
    Human Events ^ | 12/05/2011 | by Neil W. McCabe
    A former MF Global employee accused former president William J. Clinton of collecting $50,000 per month through his Teneo advisory firm in the months before the brokerage careened towards its Halloween filing for Chapter 11 bankruptcy. Teneo was hired by MF Global’s former CEO Jon S. Corzine to improve his image and to enhance his connections with Clinton’s political family, said the employee, who asked that his name be withheld because he feared retribution. “They were supposed to be helping Corzine improve his image as a CEO—I guess you can tell how that went,” he said. Corzine resigned as CEO...
  • Jon-Bubba twist (Clinton's profitable consulting work for MF Global)

    12/06/2011 2:44:59 AM PST · by Cincinatus' Wife · 8 replies
    New York Post ^ | December 6, 2011 | JOSH MARGOLIN
    FRIEND$ AT THE TOP: Former President Bill Clinton and British ex-Prime Minister Tony Blair both sit on the advisory board of Teneo Holdings, which was paid at least $625,000 to do public-relations and financial-consulting work for Jon Corzine’s failed brokerage, MF Global. ....Clinton spokesman Matt McKenna said “President Clinton does not advise clients on the firm’s behalf.” Clinton does make money from Teneo, but has declined to disclose the sum. Corzine and the former president have been close for years. Clinton campaigned for Corzine repeatedly and Corzine, in turn, became the first sitting governor to endorse Hillary Rodham Clinton’s bid...
  • Market Has Been Destroyed by the MF Global Collapse (podcast interview w/ Ann Barnhardt)

    12/02/2011 12:59:58 PM PST · by Lorianne · 37 replies
    Financial Sense ^ | 01 December 2011 | Puplava inteviews Barnhardt
    (podcast ... a must listen) Was the collapse of MF Global an accident or the calculated move of a political insider? Ann passionately lays the whole scheme bare, explaining the massive implications this has for our legal and financial systems, not to mention how investors should prepare in the face of massive corruption.
  • Comment from Retired FBI Agent (Ann Barnhardt posting)

    12/02/2011 3:50:13 PM PST · by No One Special · 15 replies
    barnhardt.biz ^ | December 1, 2011 | Ann Barnhardt
    This caught my eye in the inbox tonight: Ann, I just listened to your interview on financial sense. I am a retired FBI White Collar Crime Supervisor who supervised a Securities Fraud Desk, in the {city name redacted} Division, prior to retiring in {year redacted}. Your analysis of the CME, the Obama Administration, and the sad state of our republic is right on the money. In addition, your 8(a) minority, affirmative action hire comment could not be more true. The effectiveness of federal law enforcement has been jeopardized by the politically correct hiring practices ongoing since George Herbert Walker Bush...
  • Jon Corzine, Obama ‘Partner’ and Campaign Financier, Subpoenaed on MF Global Collapse

    12/02/2011 4:50:16 PM PST · by Free ThinkerNY · 8 replies
    ABC News ^ | Dec. 2, 2011 | Devin Dwyer
    Former New Jersey governor and U.S. Sen. Jon Corzine, whom President Obama once hailed as an “honorable man” and one of his “best partners” in the White House, has been subpoenaed to testify before Congress about his role in the collapse of the investment firm MF Global. Corzine was chairman and CEO of the company between March 2010 and Oct. 31, 2011, when it filed for bankruptcy. An estimated $1.2 billion has not been accounted for, leaving many investor accounts drained. The FBI and Justice Department are also investigating the case. The unanimous, bipartisan vote today to require Corzine to...
  • MF Global proves Enron-era (off-balance-sheet) accounting lives on

    12/02/2011 6:45:46 AM PST · by Libloather · 5 replies
    Yahoo ^ | 12/02/11 | Nanette Byrnes
    MF Global proves Enron-era accounting lives onBy Nanette Byrnes | Reuters – 2 hours 14 minutes ago REUTERS - The off-balance-sheet accounting methods that Enron and Lehman Brothers made famous in their epic failures years ago have a modern-day poster child: MF Global . Like its predecessors, the bankrupt brokerage formerly run by Jon Corzine took advantage of an accounting maneuver to keep certain financial obligations off its books, making the firm look less indebted and thus less a risk than it really was. On Thursday, Mary Schapiro, chairman of the Securities and Exchange Commission, told a committee of Congress...
  • Lawmakers to look at Corzine, rating firms’ ties

    11/24/2011 5:30:15 PM PST · by Enosh · 12 replies
    (Reuters) – U.S. lawmakers plan to look into the relationship between bankrupt mid-size brokerage firm MF Global Holdings Ltd’s former CEO Jon Corzine and the major credit-rating agencies, The Wall Street Journal reported on Thursday, citing a person familiar with the matter. MF Global’s credit ratings were cut to junk in the days before its October 31 bankruptcy. A U.S. congressional subcommittee plans a December 15 hearing with regulators and top MF Global officials to review the firm’s collapse. The House Financial Services Subcommittee for Oversight and Investigations has invited Corzine and Bradley Abelow, the firm’s chief operating officer. The...
  • Corzine's Fraud

    11/23/2011 6:18:38 AM PST · by Kaslin · 23 replies
    Townhall.com ^ | November 23, 2011 | Jeff Carter
    MF Global committed fraud. The purpose of this short post is to delineate a couple of things that have been circulating, and to try and provide a bit of clarity. MF didn’t default on the $CME or anyone else’s clearing house. The phrase, “no one has lost a penny due to default of our clearinghouse” still applies. However, MF did screw over its entire customer base. By doing that, it threw into question every client/firm relationship in the industry. Is your money safe with your clearing firm? Brokerage? I haven’t gotten a letter from my broker telling me their practices...
  • Dismal Futures With MF Global -Global Heist

    11/22/2011 6:08:18 AM PST · by cuban leaf · 51 replies
    Myinvestorsplace.com ^ | 11/22/2011 | Kathy Cuthbert
    This was forwarded to me by a colleague…Great letter To: James W. Giddens, Trustee, SIPA Liquidation of MF Global, Inc. and Martin Glenn, United States Bankruptcy Judge From: Cathy Cuthbert RE: MF Global Heist I am a lucky, former MF Global client. Unfortunately, I’m not a multi-billionaire who got the memo. I had a modest account that was supplying me with a modest livelihood, when suddenly one Monday afternoon, my account was frozen, my livelihood was essentially gone and four years worth of trading profits vanished into cyber space. You might be interested to know that sitting on my desk...
  • Getting Worse: $1.7 Billion Customers' Money Missing

    11/22/2011 11:42:01 AM PST · by lbryce · 50 replies
    Fox News ^ | November 22, 2011 | Mark Duell
    MF Global's missing money mystery has taken a twist after a bankruptcy trustee said the figure is double what the firm reported to regulators. James Giddens said up to $1.2 billion is missing from customer accounts at the broker, which filed for bankruptcy protection three weeks ago. He said his plans to release $520million from accounts that have been frozen will mean nearly all the assets under his control will be distributed. Court-appointed trustee Mr Giddens has been going through the accounts and finances of MF Global since it filed for bankruptcy protection. But an investigation source told the New...
  • Obama/Biden called Corzine first for economic advice in 2008

    11/22/2011 5:21:35 AM PST · by grayhog · 7 replies
    youtube ^ | Joe Biden
    Pretty amazing and damning (and short) video. Biden on the stump with Corzine saying the economic advice he and Obama first sought was from Corzine. Watch the short video - should be in lots of political ads next year. Ken Lay (Enron), Jeff Skilling (Enron), Dennis Kozolowski (Tyco), Bernie Madoff, Bernie Ebbers (Wroldcom), John Corzine (MF Global), Obama/Biden (Democratic Party)....all frauds and crooks. Waiting to see Corzine doing the perp walk in handcuffs.
  • MF Global trustee says $1.2 billion missing

    The trustee overseeing the wind-down of MF Global Holdings Ltd.'s brokerage said Monday that more than $1.2 billion in customer funds could be missing from the failed firm, more than double the original estimate of missing cash. Trustee James W. Giddens also added in a statement that he does not have access to funds beyond $1.6 billion already on hand and is "very close to exhausting the funds under his control." Giddens said restoring customer accounts to 60 percent of their value -- a previously announced goal -- would require as much as $1.6 billion. That next step still requires...
  • MF Global Trustee Estimates Shortfall Could Be $1.2 Billion+ (double original estimates)

    11/21/2011 8:50:41 AM PST · by quesney · 56 replies
    The court-appointed trustee overseeing the liquidation of MF Global’s brokerage now estimates that the shortfall in the firm’s customer funds could be more than $1.2 billion, double previous estimates.
  • Insight: Anger rises as MF Global clients see billions frozen

    11/20/2011 3:58:47 PM PST · by Libloather · 20 replies
    IB Times ^ | 11/20/11 | David Sheppard and Jeanine Prezioso
    Insight: Anger rises as MF Global clients see billions frozenBy David Sheppard and Jeanine Prezioso November 20, 2011 3:28 PM EST **SNIP** MOUNTING ANGER While customers were initially outraged at the thought that MF Global had tapped into their segregated funds, that rage has increasingly been targeted at the trustee and the bankruptcy court for the handling of an unprecedented collapse. "The (bankruptcy) Trustee is creating new protected classes within a pool of segregated customer assets," said John Roe, a spokesman for the Commodity Customer Coalition, a group lobbying for the speedy release of funds representing 7,000 former MF Global...
  • In defense of Jon Corzine (LOL Read the comments)

    11/18/2011 4:39:52 PM PST · by no gnu taxes · 15 replies · 1+ views
    theweek ^ | Bob Schrum
    Friendship has its claims; so does fairness. And in the wake of the bankruptcy of brokerage firm MF Global, the media's portrayal of Jon Corzine, MF's ex-CEO and a former Democratic senator and governor in New Jersey, strikes me as profoundly unfair — and not just because he's a friend.
  • "The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Obama Cronyism

    11/17/2011 1:03:10 PM PST · by frithguild · 53 replies
    Zero Hedge ^ | 11/17/2011 | Ann Barnhardt through Tyler Durden
    Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management, It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator. The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their...
  • The case of the missing $600 million at MF Global gets murkier

    11/18/2011 12:44:12 PM PST · by Hojczyk · 76 replies
    HotAir ^ | November 18,2011 | ED MORRISSEY
    Nearly three weeks after $600 million in customer money went missing from MF Global, the search for the cash has been hampered by the bankrupt brokerage firm’s sloppy record-keeping, an increasingly worrisome situation that has left regulators frustrated and customers in the lurch. The round-the-clock effort has consumed an alphabet soup of federal regulators and criminal investigators, with lawyers sleeping at open desks and each agency commandeering a different conference room at the firm’s offices. But as authorities comb through some 38,000 customer accounts, they are growing more suspicious about what went wrong at MF Global, the commodities powerhouse once...
  • "The Entire System Has Been Utterly Destroyed By The MF Global Collapse"

    11/18/2011 6:48:33 AM PST · by safetysign · 31 replies
    Zero Hedge ^ | 11/17/2011 | Tyler Durden
    BCM Has Ceased Operations (source) Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management, It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator. The reason for my...
  • ZeroHedge.com: MF-er Jon Corzine (Democrat-NJ) Stole His Clients' Money

    11/17/2011 2:22:29 PM PST · by Kaslin · 37 replies
    Rush Limbaugh.com ^ | November | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: I just read at ZeroHedge.com that there is a hedge fund that just shut down today. I'm not gonna mention the hedge fund 'cause I want to get confirmation on this, but the guy shuts down his hedge fund, he said, "I can't continue in good conscience to take clients' money and invest it in a rigged market." He said that this thing with Corzine's company, people do not know the real importance of what happened. "A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his...
  • Barnhardt Capital BCM Has Ceased Operations (Part 1)

    11/17/2011 12:06:57 PM PST · by Attention Surplus Disorder · 61 replies
    Her own website ^ | Nov 17, 2011 | Ann Barnhardt
    BCM Has Ceased Operations (Part 1) Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management, It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator. The reason for...
  • The Entire System Has Been Utterly Destroyed By The MF Global Collapse

    11/17/2011 11:45:32 AM PST · by tcrlaf · 81 replies
    Zerohedge ^ | 11-17-11 | Tyler Durden
    Presenting The First MF Global Casualty BCM Has Ceased Operations (source) Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management, It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a...
  • The Mysterious Disappearance of MF Global's $630 Million (Corzine illegally co-mingled funds?)

    11/05/2011 2:08:09 PM PDT · by jimbo123 · 35 replies
    Forbes ^ | 11/1/11 | Robert Lenzner
    Where oh where did Corzine’s $630 million go to? The search and rescue teams are all about the mighty financial institutions madly trying to find $630 million of customers money that stupidly and unethically and perhaps illegally was commingled with MF Global’s own capital in order for the firm to stay in business and avoid that deadly credit rating reduction that was one of a number of kisses of death. Is it at JP Morgan? At first, it was announced to be resting easily and safely at the House of Morgan. But, apparently not.
  • Another Flashback of Biden Praising Disgraced Corzine: ‘Smartest Guy I Know In Terms Of Economy’

    11/15/2011 7:34:29 AM PST · by lbryce · 1 replies
    Breibart TV ^ | November 14, 2011 | Staff
    Another Flashback of Biden Praising Disgraced Corzine: ‘Smartest Guy I Know In Terms Of Economy’
  • Biden: First Guy We Called for Economic Advice Was Jon Corzine

    The idiot vice president regales us with what a wonderful job Corzine did as New Jersey governor, not to mention his being the go-to guy when they needed advice on the economy.
  • Staffers furious after 1,000 fired from Corzine's bankrupt firm MF Global

    11/12/2011 12:45:47 PM PST · by george76 · 64 replies
    NEW YORK POST ^ | November 12, 2011 | KAJA WHITEHOUSE, ANTONIO ANTENUCCI
    Screw you, Jon Corzine. All 1,066 employees of the bankrupt trading house MF Global got the boot yesterday in a pre-holiday massacre that left workers without severance and benefits -- and they blamed only one man for their woes. ... If Corzine were around, DiMatteo told Bloomberg News, “I would punch him in the face.” ... Bankruptcy trustee James Giddens is still trying to find about $600 million in missing customer money. Forensic probers are trying to account for the brokerage firm’s assets, and federal agencies are investigating whether MF mixed company funds with money missing from customer accounts.
  • The Scandal No One is Talking About

    11/11/2011 9:22:45 PM PST · by iowamark · 13 replies
    Fox News ^ | November 11, 2011 | Dan Gainor
    If you've been following the news this week, you'd get the impression that America is a scandal-plagued nation. Scandals to the right of us, scandals to the left of us. Take your pick. There’s the media assault on GOP presidential candidate Herman Cain, the deadly "Fast and Furious" federal gun-running case, the Solyndra solar loan fiasco, the collapse of MF Global, led by former Democratic N.J. Gov. Jon Corzine and, of course, the deeply disturbing allegations of child sexual abuse at Penn State.  But the real scandal isn’t any one of those. It’s how journalists pick and choose which controversies...
  • Occupy Fannie and Freddie

    11/10/2011 8:52:41 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | November 10, 2011 | Debra J. Saunders
    The collapse of MF Global Holdings gives Americans yet another reason not to trust Wall Street. The firm filed for bankruptcy as federal regulators were looking for $600 million missing from customer accounts. Its CEO, former Democratic New Jersey Gov. Jon Corzine, had bet that European leaders would bail out smallish countries that were too big to fail. His bet did not pay off. The only good news out of this story is that Washington won't be bailing out MF Global. Corzine said he won't take a reported $12 million in severance. If he truly wants to atone, then Corzine...
  • Corzine Out as Search for MF Global Funds Continues

    11/05/2011 6:22:37 AM PDT · by libstripper · 19 replies
    New York Times ^ | Nov. 4, 2011 | BEN PROTESS and MICHAEL J. DE LA MERCED
    The missing customer money at MF Global is still missing. On Friday, funds from the bankrupt brokerage firm suddenly surfaced at JPMorgan Chase. Washington and Wall Street, for a moment, were hopeful it was the money they had been searching for all week. But then, just as quickly, nearly everyone agreed it was not the missing money, and the hunt was on again.