Corzine Knew MF Used Client Accounts: Duffy

Corzine Knew MF Used Client Accounts: Duffy

www.bloomberg.com

Jon Corzine, the former chief executive officer of MF Global Holdings Ltd., knew that the company made a loan out of segregated customer accounts before it went bankrupt, CME Group Inc. chairman Terrence Duffy told the U.S. Senate.

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Related News Links:
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MF Global cash 'is in London'
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But, but...

Corzine in earlier testimony said that he couldn’t explain why money was missing from customer accounts, and that he had been surprised to find out that money was missing from customer accounts on the night of Sunday Oct. 30.

Hmmm... who to trust?

This couldn't possibly be a perfect example of people in positions of power being clinically psychopathic (i.e. ability to lie without remorse, a total lack of empathy, extreme egotism... etc.) could it?

OK, enough with the sarcasm, but here we go folks, this is the ultimate litmus test to see whether the banksters have won and are truly running the show. (Though I think we already know the answer to that with the total lack of prosecution and the imposition of un-elected banker technocrats in Europe!)

This particular crime is so blatant, that it is hard to imagine how Corzine and his buddies can escape prosecution, BUT, they are part of the "good old boys" network in the revolving door system which goes to and from Wall Street and D.C. AND, traditionally, this gets you a "get out of jail free" card.

From an optimistic standpoint, I can't help but think that the banking cartel and the so-called "elite" have become too overtly brazen in their transfer of wealth from the taxpaying citizen to their offshore accounts. Perhaps they will be victims of their own greed after all?

N.B.
I am not yet holding my breath!

the Billmeister

www.bloomberg.com
(visit the link for the full news article)

reply to post by Billmeister


- Misappropriation of assets & corporate malfeasance -

Sounds kinda illegal to me.

--------
Jon Corzine used assets here in the USA as collateral for loans granted in London.

He indirectly tried to pull a fast one and got caught.

The DOJ will have to reluctantly prosecute this white collar criminal.

reply to post by Eurisko2012


Seems obvious to everyone with a little bit of common sense and an understanding of the term justice.

I guess that is the problem... those in charge seem to have a total lack of both of these notions.

Duffy didn’t say whether Corzine learned of the loans in advance of the funds being moved. He also didn’t say whether the loans were a legitimate use of customer accounts.

They seem to always be able to slither out of these cases...

Complicating matters, assets for customers that traded in foreign futures are now under the control of foreign bankruptcy trustees.

... and keep the loot!

he Billmeister

Watch him walk away with a fine.
I'll bet this man won't serve a single day.

Will anyone protest that, or will they just seethe under the surface and carry on? What will it take to actually make the people stand up for themselves?