MF Global Collapse The Fault Of Ex-CEO Jon Corzine

I B Hankering's Avatar
MF Global Collapse The Fault Of Ex-CEO Jon Corzine, Congressional Investigation Finds
Reuters | Posted: 11/14/2012 1:44 pm EST

WASHINGTON, Nov 14 (Reuters) - MF Global's collapse and the loss of an estimated $1.6 billion in customer money was triggered by former CEO Jon Corzine's poor management decisions and lax protections for customer funds, a congressional investigation has determined.

The findings of the House Financial Services Subcommittee on Oversight will be spelled out in a report to be released on Thursday.

In a preview of the report, the panel's chairman, Rep. Randy Neugebauer, said on Wednesday the evidence unearthed by the committee puts the blame squarely on Corzine, who has denied any wrongdoing.

"The responsibility for failing to maintain the systems and controls necessary to protect customer funds rests with Corzine," the report says. "This failure represents a dereliction of his duty as MF Global's chairman and CEO."


http://www.huffingtonpost.com/2012/1...n_2131110.html

Maybe Odumbo might donate Corzine's Odumbo campaign contributions to reconstituting the customer's losses.


Recently, the Obama administration and agencies the President runs reported they will not be prosecuting Jon Corzine for the known theft of over $1 billion in customer money at MF Global. The former Governor of New Jersey, and former head of Goldman Sachs, is a long time insider and campaign contributor to Obama, which easily reveals why the fraud scandal is allowed to get off scott free
Fast Gunn's Avatar
The guy was reckless.

He paid dearly when he ruined his life and fortune as a result.

Now you want to implicate President Obama in this scandal because you can't accept that Mitt Romney lost the election?

. . . Just how pathetic are you guys, anyway?


CuteOldGuy's Avatar
President Obama implicated himself when he refused to prosecute Corzine.
LordBeaverbrook's Avatar
The guy was reckless.

He paid dearly when he ruined his life and fortune as a result.

Now you want to implicate President Obama in this scandal because you can't accept that Mitt Romney lost the election?

. . . Just how pathetic are you guys, anyway?


Originally Posted by Fast Gunn
Well, I for one am glad that they exposed Obama and the Democrats for the liars, frauds and criminals that they really are. I'll never vote Dem again and will always vote Republican because they would never have anything to do with criminal fraud like Dems.



You guys are a real breath of fresh air, thanks!
I B Hankering's Avatar
The guy was reckless.

He paid dearly when he ruined his life and fortune as a result.

Now you want to implicate President Obama in this scandal because you can't accept that Mitt Romney lost the election?

. . . Just how pathetic are you guys, anyway?


Originally Posted by Fast Gunn
What's pathetic, FastGoon, is Odumbo shamelessly implicated himself and Kool Aid sucking sots like you can't even see it.

President Obama's Campaign Appears to Embrace Jon Corzine, a Top Bundler
Posted: 05/1/2012 5:43 am

Up until now, President Obama's campaign has given the appearance of an endorsement of Jon Corzine, the former CEO of MF Global, a former New Jersey governor, a former New Jersey U.S. senator and major campaign contribution bundler for President Obama. At least this is the interpretation of many who viewed the list (as of April 30, 2012) of President Obama's money raisers through the first quarter of 2012. With no clarification or footnote, Jon Corzine is shown as having raised more than $500 thousand in the roster of 2012 Volunteer Fundraisers. The re-election campaign has not disclosed the exact number. I requested further information from the campaign and received this response:

"Corzine's money was returned but the money he raised a year ago was not and thus it qualifies him to be on the bundler list. He is not part of the campaign any longer, this [Obama for America and Obama Victory Fund 2012 Volunteer Fundraisers] list is cumulative."

http://www.huffingtonpost.com/janet-...b_1466744.html



Obama’s Big Bird ad displays hypocritical Wall Street connection
Tuesday, October 9, 2012 - by Henry D'Andrea


PHOENIX, October 9, 2012- President Barack Obama’s re-election campaign released a new ad today prominently featuring the Sesame Street character, Big Bird, but it comes with a questionable message.

This ad comes after Gov. Mitt Romney repeated his plans at last week’s presidential debate to cut funding to the Public Broadcasting Service (PBS).
“"I'm going to stop the subsidy to PBS. I like PBS. I like Big Bird" — [the Sesame Street character] — "I like you too (Jim Lehrer)," Romney said during the debate.

Now the Obama campaign has taken to task to make Big Bird their new poster child for attacks against Romney.

However, the ad released is nothing sort of hypocritical.
The basic message of the ad is to ‘Crack down on Wall Street, not Sesame Street.’

"Bernie Madoff. Ken Lay. Dennis Kozlowski: Criminals. Gluttons of greed. And the evil genius who towered over them? Big. Yellow. A menace to our economy. Mitt Romney knows it’s not Wall Street you have to worry about, it’s Sesame Street," the ad says in a voice over.

Looking at these criminals, remind me again which ones Barack Obama prosecuted? You can’t, because it was George W. Bush’s Department of Justice that prosecuted Lay and Kozlowski.

It was Madoff’s son who turned his father in before Obama even took office in January 2009.

The truth is the Obama Department of Justice has never prosecuted a single Wall Street ‘criminal’ since his tenure as president began four years ago.
However, Obama does have a Wall Street ‘criminal’ connection that the ad failed to mention.

Former MF Global CEO, Jon Corzine.

It was Jon Corzine that lost $1.6 billion in private investments at the now bankrupt MF Global and helped author the failed 2009 $1 trillion stimulus known as the American Recovery and Reinvestment Act of 2009.

"I simply do not know where the money is," Corzine famously told Congress back in December 2011.

“I literally picked up the phone and called Jon Corzine and said Jon, what do you think we should do. The reason we called Jon is that we knew that he knew about the economy, about world markets, how we had to respond, unlike almost anyone we knew. It was because he had been in the pit — because he had been in the furnace. And we trusted his judgment,” Vice President Joe Biden said about Corzine in November 2011.

Biden went even further to say at a separate rally, "He's the smartest guy I know on the economy.”

Even President Obama called Mr. Corzine a, “leader, who has been called to govern in some extraordinary times. He was an ally with the Obama administration in helping us develop a national recovery plan.”

Though of course since Corzine is a huge Obama supporter and “ally,” the Department of Justice will not file any charges against any MF Global executive, as they announced in August.


So when the Obama ad claims Romney needs to crackdown on Wall Street and not Sesame Street, isn’t it Obama that needs to take a second look at these so-called Wall Street ‘gluttons of greed’?

On the point of cracking down on Sesame Street, it is simply a matter of reining in our national debt, deficit, and spending.


http://communities.washingtontimes.c...cal-wall-stre/
CuteOldGuy's Avatar
Faustxjr, from your sarcasm, are we to understand that since Republicans have engaged in fraud and corruption, Democrats should be allowed to do so? I thought Obama was supposed to be better than the Republicans. According to you, it's ok if he's not.

I have an idea. Let's end the fraud and corruption, NOW, for all parties! What would you say to that?
The guy was reckless.

He paid dearly when he ruined his life and fortune as a result.

Now you want to implicate President Obama in this scandal because you can't accept that Mitt Romney lost the election?

. . . Just how pathetic are you guys, anyway?


Originally Posted by Fast Gunn
Please provide evidence where he's ruined his fortune? As far as I can tell, his life is far from ruined also. He only had to testify for a few days - big whoop! Its not like he's persona non grata in the Democratic Party. Hell, he was reckless at Goldman Sachs, as the Gov of NJ and as Senator.

How pathetic are you?
CuteOldGuy's Avatar
Yeah, Gnad, I agree. I don't think Corzine is hurting at all. He avoided prosecution for one of the biggest scams in history, still has millions or billions of dollars, and has the President of the United States running interference for him. I should be so ruined.

FastGoon is just a tongue-talking Obamaton.
Please provide evidence where he's ruined his fortune? As far as I can tell, his life is far from ruined also. He only had to testify for a few days - big whoop! Its not like he's persona non grata in the Democratic Party. Hell, he was reckless at Goldman Sachs, as the Gov of NJ and as Senator.

How pathetic are you? Originally Posted by gnadfly

Hell with credentials like that he will be the next republican candidate for president..
Seedy's Avatar
  • Seedy
  • 11-14-2012, 11:57 PM
Hell with credentials like that he will be the next democrat cocksucker for president.. Originally Posted by ekim008

Had to fix that for ya ekim