A billion dollars is a hell of a lot of money to just be innocently missing.
Several layers of management would have to signed on to permit such a substantial transfer of funds.
I imagine they are now sweating profusely wondering how soon before the auditors track the paper trail back to them.
. . . Somebody is going to prison for this crime.
- Fast Gunn
- 12-10-2011, 03:28 PM
- Texas Contrarian
- 12-10-2011, 06:17 PM
Yup!
Pretty difficult to simply let a billion bucks accidentally "leak" out of some customer accounts.
No one individual, not even the CEO, can approve funds transfers from such accounts. Since the U.S. attorney's office is investigating this case, a number of people are soon going to find that they have some 'splainin' to do.
This fiasco will undoubtedly create some opportunities for a few of New York's better criminal defense attorneys.
Pretty difficult to simply let a billion bucks accidentally "leak" out of some customer accounts.
No one individual, not even the CEO, can approve funds transfers from such accounts. Since the U.S. attorney's office is investigating this case, a number of people are soon going to find that they have some 'splainin' to do.
This fiasco will undoubtedly create some opportunities for a few of New York's better criminal defense attorneys.
- Whirlaway
- 12-13-2011, 11:39 AM
Corzine is back testifying before the Senate Ag Committee; same song.....
He needs to be striped of his wealth; let's redistribute it from him to the 99%ers......
He needs to be striped of his wealth; let's redistribute it from him to the 99%ers......
- Whirlaway
- 12-14-2011, 12:37 PM
From the FT:
Jon Corzine, the former chief executive of MF Global, “was aware” that the broker-dealer made use of customer funds during its desperate fight for survival, a US Senate hearing was told on Tuesday.
Terry Duffy, chief executive of CME Group, the futures exchange operator that supervised MF Global’s handling of customer money, said a CME auditor heard an MF Global employee say during a conference call involving senior MF Global employees that “Mr Corzine was aware of the loans being made from segregated accounts”.
Another corrupt Democratic politican who hopefully will go to jail.
Corzine, the guy who Biden and Obama considered to be a financial genius........shows what a fucking moron Obama is.
Corzine, the guy who Biden and Obama considered to be a financial genius........shows what a fucking moron Obama is.