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Keyword: corzine

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  • MF Global Sold Assets to Goldman Before Collapse (Surprise, surprise...)

    01/04/2012 4:12:54 PM PST · by jimbo123 · 27 replies
    CNBC ^ | 1/4/12 | Reuters
    MF Global unloaded hundreds of millions of dollars' worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions.
  • Investigation Into MF Global Expected to Heat Up (RAT Corzine goes to the big house?)

    01/02/2012 6:14:53 AM PST · by Libloather · 17 replies
    NY Times ^ | 12/30/11 | BEN PROTESS
    Investigation Into MF Global Expected to Heat UpBy BEN PROTESS December 30, 2011, 1:30 pm When customer money disappeared from MF Global over Halloween weekend, it seemed implausible the cash would remain at large come New Year’s Day. But two months later, the hunt for roughly $1.2 billion in client money continues. Some MF Global customers, including farmers and hedge funds, are still without about a third of the money in their accounts at MF Global, the brokerage firm once run by Jon S. Corzine, the former governor of New Jersey. Against this backdrop, and as 2012 gets ready to...
  • Feds: MF Global improperly moved customer money

    12/30/2011 8:22:12 AM PST · by Libloather · 18 replies
    Post Bulletin ^ | 12/29/11 | Azam Ahmedben Protess
    Feds: MF Global improperly moved customer moneyBy Azam Ahmedben Protess New York Times News Service Posted: Dec 29, 2011, 7:02 am WASHINGTON — Federal authorities investigating the demise of MF Global think that the firm began improperly moving customer money to a middleman on Oct. 27, according to people briefed on the matter. The transfers, which indicate the brokerage firm misused client funds earlier than previously believed, represent a new line of inquiry in the hunt for more than $1 billion in missing money. In MF Global's last days, the brokerage house was frantically winding down trades to shore up...
  • MF Global Chief Who Oversaw Missing $1.2 Billion Also Top EPA Financial Adviser

    12/29/2011 9:16:30 AM PST · by Smokeyblue · 25 replies
    Big Government ^ | December 29, 2011 | Wynton Hall
    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....
  • Question regarding Goldman Sachs and the nation of Mauritius

    12/28/2011 8:22:50 PM PST · by mgist · 16 replies
    FINRA ^ | 12/28/2011 | Finra
    Please help. Goldman Sachs has notorious alumni, such as Corzine in it's history. This level of government and corporate nepotism and cronyism is ridiculous. Out of curiosity I looked up Goldman in the regulatory agencies web sites, and found that Goldman Sachs has a fully owned partnership with a company in the nation of Mauritius. I've never heard of Mauritius, and other than the usual Soros ties to the nation, don't understand this connection. I guess I'm a little ignorant, but can somebody shed some light on this investment HUB of a nation I've never heard of?
  • Obama-Corzine Were Wrong (Incredible video from RNC)

    12/28/2011 3:24:08 PM PST · by Texas Fossil · 7 replies
    You Tube video from RNC ^ | December 12, 2011 | RNC
    No wonder the stimulus didn't work. Download the RNC briefing book: "My Wall Street Guy: Barack Obama & Jon Corzine"
  • Thune: What Corzine Won't Tell Us, the FBI, CFTC Will Tell Us

    12/27/2011 3:04:00 PM PST · by afraidfortherepublic · 13 replies
    Human Events ^ | 12-27-11 | Neil W. McCabe
    In an exclusive Human Events interview, the senior Republican on the Senate’s Agriculture Committee's Jobs, Rural Economic Growth and Energy Innovation subcommittee discusses his take on the MF Global bankruptcy scandal. “I have heard from several South Dakotans who were affected by the apparent fraud that occurred in the final days of MF Global before its collapse,” said Sen. John R. Thune (R-S.D.), who worked in the Small Business Administration​ under President Ronald W. Reagan. [Video of Thune's December 13 questioning Corzine is at the bottom of the article.] The firm’s Halloween bankruptcy was followed by the November 4 resignation...
  • Bam’s still pocketing MF money

    12/26/2011 10:02:37 AM PST · by Nachum · 6 replies
    New York Post ^ | 12/26/11 | Josh Margolin
    President Obama is trying to put some distance between himself and the wreckage of bankrupt brokerage MF Global. But not too much distance. After returning more than $70,000 to Jon Corzine, the CEO who led MF Global into bankruptcy, the president’s re-election organizations are still hanging onto nearly $150,000 connected to the firm, The Post has learned. An Obama campaign official said no MF Global donations besides Corzine’s have been refunded. “Contributions will be reviewed on a case-by-case basis, and if the facts merit it, they will be returned,” the official told The Post. Late Friday, aides revealed that Obama...
  • Government is Hunter, You Are The Prey

    12/26/2011 7:26:37 AM PST · by kentramsay · 21 replies
    EconomicNoise ^ | 12-26-11 | Monty Pelerin
  • Obama campaign, DNC return Corzine contributions

    12/23/2011 5:36:45 PM PST · by NormsRevenge · 9 replies
    Yahoo ^ | 12/23/11 | Ken Thomas - AP
    WASHINGTON (AP) — President Barack Obama's re-election campaign and the Democratic National Committee have returned more than $70,000 in contributions from former New Jersey Gov. Jon Corzine following the collapse of MF Global, Corzine's financial firm, officials said Friday. Obama's campaign and the DNC returned contributions of $35,800 from Corzine and his wife, Sharon Elghanayan, said Democratic officials who spoke on condition of anonymity. They were not authorized to speak publicly. Corzine was among Obama's top fundraisers, raising at least $500,000 for Obama's re-election campaign since April, according to records released by the campaign. The former Goldman Sachs chief held...
  • Obama to return Corzine cash

    12/23/2011 4:06:04 PM PST · by ColdOne · 22 replies · 1+ views
    Politico ^ | 12/23/11 | MAGGIE HABERMAN
    President Barack Obama and the DNC plan to return $71,600 donated by disgraced former MF Global head Jon Corzine and his wife, a source confirmed to POLITICO. The money was split between the DNC Victory Fund and the reelection effort. But Corzine was not just a donor but also a bundler, including from other MF Global employees. The source said the other donations from employees will be looked at case by case and, if the facts warrant it, returned. The news came late on the Friday before Christmas, generall

    12/20/2011 11:16:33 PM PST · by SatinDoll · 45 replies
    Barnhardt ^ | Dec. 20, 2011 | Ann Barnhardt
    I have received a few emails asking if I was still content with my decision to shut down my brokerage. Not only am I content, but after seeing the news that broke over the weekend, I am of the considered opinion that the entire financial blogging community should formally call for a general financial market strike. And I’m not kidding. A couple of things have happened regarding the MF Global mess that I don’t think got the attention they should have because they broke over the weekend. So let me fill you all in. First, all notions of personal property...
  • Ann Barnhardt: I'm Calling For A General Financial Market Strike

    12/21/2011 7:04:01 AM PST · by sayuncledave · 26 replies ^ | December 20, 2011 | Ann Barnhardt
    I have received a few emails asking if I was still content with my decision to shut down my brokerage. Not only am I content, but after seeing the news that broke over the weekend, I am of the considered opinion that the entire financial blogging community should formally call for a general financial market strike. And I’m not kidding. A couple of things have happened regarding the MF Global mess that I don’t think got the attention they should have because they broke over the weekend. So let me fill you all in. First, all notions of personal property...
  • E-Mail Clues in Tracking MF Global Client Funds

    12/21/2011 6:18:51 AM PST · by Libloather · 14 replies · 1+ views
    NY Times ^ | 12/20/11 | BEN PROTESS and AZAM AHMED
    E-Mail Clues in Tracking MF Global Client FundsBy BEN PROTESS and AZAM AHMED December 20, 2011, 9:00 pm Federal authorities investigating the collapse of MF Global have uncovered e-mails that detail the transfers of money in the firm’s last days, including transfers that contained customer money, according to people close to the investigation. One e-mail chain refers to the transfer of roughly $200 million that MF Global owed JPMorgan Chase on Oct. 28 — the firm’s last business day before it filed for bankruptcy. In that chain, a senior official in the firm’s Chicago office was told to make the...
  • The Silver Rush at MF Global

    12/19/2011 1:02:17 PM PST · by Hojczyk · 38 replies
    Yahoo Finance ^ | December 19,2011 | Erin Arvedlund
    Investors are furious that they can't get back the gold and silver they stashed with the failed brokerage. It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else for a bar of silver stashed in a vault to instantly shrink in size by more than 25%. That, in essence, is what's happening to investors whose bars of silver and gold were held through accounts with MF Global. The trustee overseeing the liquidation of the failed brokerage has proposed dumping all remaining customer assets—gold,...

    12/17/2011 10:24:32 PM PST · by Rabin · 1 replies ^ | July 16, 2009 | Office of the Press Secretary
    Thank you. It is good to see you. Hello, New Jersey! (Applause.) All right, everybody have a seat. Everybody have a seat. I want to begin by just making a few acknowledgements. First of all, I'm going to have a lot to say about this guy, but I just want everybody to know that one of my earliest supporters, somebody who had faith and confidence in me before I was a United States senator was the man standing next to me right here -- Jon Corzine. (Applause.)
  • Liquidation Of Customer Stored Gold And Silver Bullion From MF Global

    12/17/2011 8:38:03 PM PST · by blam · 97 replies
    TMO ^ | 12-17-2011 | Jesse
    Liquidation Of Customer Stored Gold And Silver Bullion From MF Global Commodities / Gold and Silver 2011 Dec 17, 2011 - 12:27 PM By: Jesse The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation. Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations....
  • Cash & burn [more from the democrat Culture of Corruption]

    12/16/2011 11:38:10 AM PST · by BenLurkin · 8 replies
    nypost ^ | 8:25 AM, December 16, 2011 | JOSH MARGOLIN
    The Democratic senator who savaged Jon Corzine at a high-profile Capitol Hill hearing this week had another reason to go hard on her former colleague — she recently pressed him for campaign contributions but didn’t get any. “She would literally call once every two or three weeks,” one Corzine intimate said of Sen. Debbie Stabenow (DMich.). “She called all the time.” Stabenow, chair of the Senate Agriculture Committee, had blasted the former senator and New Jersey governor Tuesday for his failure to explain what happened to $1.2 billion in missing customer money from his bankrupt firm, MF Global. “This isn’t...
  • Records Reveal Contact Between Corzine and the Fed in MF Global's Final Days (Obama's fundraiser)

    12/15/2011 4:12:46 AM PST · by tobyhill · 12 replies
    Fox News ^ | 12/15/2011 | fox news
    It was a humiliating moment, but Jon Corzine was determined to put the best face on it. On Oct. 25 of last year -- six days before the stunning collapse of MF Global Holdings Ltd., the New York-based brokerage and commodities firm he headed -- Corzine released the company's dismal results for the second fiscal quarter of 2012. Revenue, he was forced to report, had declined from the same period the year before, from over $240 million to about $205 million; and selected losses for shareholders were estimated at $191.6 million, an increase of almost $100 million from the prior...
  • The Shocking Mystery That Will Deepen Like a Thriller

    12/15/2011 4:22:16 AM PST · by Kaslin · 19 replies ^ | December 15, 2011 | Jeff Carter
    ver read junk novels that are designed for the beach? Every summer, they churn out hundreds of paperback novels that people, most often women, read by the pool or ocean. The plot in these things is the same year after year, only the characters and descriptions of them change. Investment banking scandals are the same. No one involved with MF Global slept last night. Big time bankers are networked to the hilt. They derive a lot of their income from having a great personal network of contacts. Great investment bankers are super connectors. Apply that logic to what is happening...