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No One Will Charged With a Crime for the MF Global Collapse

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posted on Aug, 16 2012 @ 08:43 AM
No One Will Charged With a Crime for the MF Global Collapse

Authorities are winding down their criminal investigation of the failed brokarage firm, MF Global, and despite the lack of oversight and the loss of more than $1 billion in customer funds, it now seems unlikely that anyone at the firm will face criminal charges.

RELATED: GOP Will Get to Grill Jon Corzine in Congress

The New York Times is reporting this morning that after ten months of investigation by federal prosecutors, sources say there isn't even enough evidence to charge any of the firm's executives in a criminal probe. The company may have failed spectacularly when it came to oversight and risk management, but the losses cannot be chalked up to outright fraud.

RELATED: Jon Corzine Had Board Approval to Ignore His Risk Officer's Advice

The company placed a grossly outsized bet (more than $6 billion worth) on the health of the European debt market last year and when it went south, the firm "borrowed" money from the accounts of its customers to try and salvage its own losses. Most of the blame for those trades fell on its CEO (and ex-New Jersey governor) Jon Corzine, and while his reputation and firm are ruined, it seems he will escape any legal sanction. He could still face massive civil lawsuits or fines from regulators who have a lower standard than a criminal prosecution, but jail isn't in the cards.

Click link for the remainder of article..

posted on Aug, 16 2012 @ 08:45 AM
Why does this not surprise me....

I am more and more in favor of impeaching and charging Holder and everyone else responsible for these investigations where they just decide to let it go.

This time around John Corrzine is getting off the hook...

Jon Corzine use to be in charge of Goldman Sachs...

Jon Corzine is a Democrat.. After 10 moinths of investigation they cant find signs of criminal activity... wtf?

Other threads touching on this topic -
Obama's DOJ And Wall Street: Too Big For Jail? - posted by xuenchen
David Wilcock Nails It: How The LIBOR Scandal Might Take The Financial Elite Down - posted by Gab1159
Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers - posted by jibeho
Justice Department won't prosecute Goldman Sachs for financial crisis - posted by Zaanny
Financial News: PFGBest (FCM) Commodity Accounts Frozen after $220Million in Clients' Funds Evapor - posted by CosmicCitizen

For those who are also outraged feel free to vent that outrage to appropriate channels - be heard!
U.S. House of Representatives
U.S. Senate
edit on 16-8-2012 by Xcathdra because: (no reason given)

posted on Aug, 16 2012 @ 08:54 AM
reply to post by Xcathdra

This is a blow to the collective ego of the US population. The sad part is that Corzine probably didnt break any laws and the fact that his behavior wasnt against any laws shows just how reckless the world of white collar crime can be. The level of damage they have done will probably be unknown for some time. The fact that these guys are working above any law makes me want to puke.

I hope the civil lawsuits just bury him.

posted on Aug, 16 2012 @ 08:58 AM
reply to post by Xcathdra

"Borrowed money?" since when is taking money form private accounts considered legal? It sounds to me more like stealing than it being borrowed. If this was done by any average Joe on the street, they would find themselves locked behind bars.

posted on Aug, 16 2012 @ 09:21 AM
So you have to steal upwards of 250 million dollars and have a (D) by your name not to go to jail. But anything less, you better watch yourself.

edit on 16-8-2012 by camaro68ss because: (no reason given)

posted on Aug, 16 2012 @ 09:30 AM
reply to post by underduck

Civil lawsuits, in my opinion, are not good enough without criminal action being present as well. This is not a simple bank robbery as it goes well beyond that.

If you or I were to rob a bank, we would be investigated and most likely charged with a crime. Our haul woulod not be anywhere close to 200 million - 1 billion dollars.

The Supreme Court has ruled that businesses are people. If thats the case then why is nothing being done?

posted on Aug, 16 2012 @ 09:31 AM

Originally posted by WeRpeons
reply to post by Xcathdra

"Borrowed money?" since when is taking money form private accounts considered legal? It sounds to me more like stealing than it being borrowed. If this was done by any average Joe on the street, they would find themselves locked behind bars.

Thats one of my points as well.

Using my above response I wonde rif an argument could be made to rob a bank and just explain that you were borrowing money. Its not going to fly so why is it valid here?

posted on Aug, 16 2012 @ 09:34 AM
Steal a loaf of bread and a gallon of milk for your kids and you may end up in jail.

Steal thousands of pensions, the social security that tens of millions have paid decades into, outsource employees jobs off shore and you get a promotion, bonus and invited to Bohemian Grove.

Up is down, down is up, right is wrong and wrong is right, there is no real justice because the many have allowed the few to manipulate and control us all.

Two really good books to read are: "The Exception To The Rulers" by Amy Goodman and "The Best Democracy Money Can Buy" by Greg Palast.

Romney is a example, he has off shored (out sourced) millions of jobs, has millions of dollars hidden in foreign banks and yet this crook, liar and wrangler is running for POTUS.

Our Senate and Congress get medical and retirement packages the rest of us can only dream of while close to 50 million of us have no health insurance.

And Madonna, who is a entertainer, (doesn't really do anything that really benefits people, just prances around in sexy clothes and sings nice) is worth 350 million USD (insane priorities folks, INSANE)!

Well fellow ATSers as long as you don't revolt, as long as you, all of you keep deluding yourself that this is a-okay, eventually you and your children will be affected.

Greed and corruption know no boundaries.

A slave that does not realize they are a slave will never rebel.- OHD

A prisoner that does not realize they are imprisoned will never try to escape. - OHD

We are in the mess we are in because the majority of people are stupid and have allowed themselves to be distracted.

Most of you would rather play your silly video games, watch American Idol or read Harry Potter instead of reading and watching some hard core reality and figuring out how the elite 1% are mucking over y'all.

So be've been warned but as the saying goes, "You can lead a horse to water but you can't make em drink."

So this messed up planet, economy and politics is because the many continue to allow the few to manipulate and control them (us).

Being here on ATS means that maybe you're beginning to question what the heck is going on.

Well, put down your friggin ipods, remote controls, video games and start doing your own investigation - then unite and rebel.

We've already got scanners, cameras, gropers, patrolling drones, police that are killing innocent citizens and our "pets", the rich are allowed to steal even more from the middle class and most of you rant about the pittance the poor take.

What the rich finagle out of paying, tax wise and the massive amount of money we are allowing to be poured into our good old boy's military could feed, clothe and shelter every single American - but people only see what TPTB, the six companies that control our media want us to see and most of you just keep complying.

So, you get exactly what y'all deserve.

edit on 16-8-2012 by ofhumandescent because: grammar & spelling

posted on Aug, 16 2012 @ 09:40 AM
reply to post by Xcathdra

Oh ... I agree wholeheartedly. I am just trying to find some sort of silver lining. It is truly a shame that they couldnt (or wouldnt) nail this guy with a crime.

posted on Aug, 16 2012 @ 09:43 AM
reply to post by underduck

"You're going the wrong waaay!!!"
"How do they know where we are going"

It just pisses me off to no end when the government blatantly uses bias in enforcement of the law and prosecution.

* - Immigration laws
* - Black Panthers
* - Corporate raiding


posted on Aug, 16 2012 @ 02:12 PM
reply to post by ofhumandescent

You win post of the day.

Very well said and I couldnt agree more. I remember when this stuff was kept secret and very few people knew about it. Now they just blatantly throw it in our face and our population is "on too many drugs with curtains down and the radio on."

I just have one hope that somewhere deep in our DNA there is a refusal for this to last too long and as more and more people wake up, look at how the world is run, and feel a burning desire to make the world a better place for themselves and their children. Maybe then we will start to see some serious movement. I see the pots beginning to stir but it isnt nearly fast enough yet. I just hope that we all wake up in time.

posted on Aug, 16 2012 @ 02:22 PM
yeah you can add my thread to the list of them discussing this complete and utter lack of following any form of law or justice to corzine.

he's not alone, just do some digging and you will find many more who have wealthy friends in high places.

posted on Aug, 16 2012 @ 02:28 PM
Herein I will make a general from-the-hip prediction:

Not only will Corzine elude any hint of guilt or wrongdoing, (because no email reflects his knowing anything was wrong); but in the end he will emerge from the politically produced theater nearly a "hero" dedicated to "fixing" all that's wrong with the system....

The more prominent media will allude to his sincerity and dedication to 'making it right.' He will call for an open and honest dialog between the banking elite and the representatives.... thus, it will become another political b/s talking point.

Odds: 5:3.... any takers?

posted on Aug, 16 2012 @ 05:28 PM
reply to post by Maxmars

I think politicians are very much underestimating the mood of the nation lately. We are moving from a right left red blue divide into the them vs us divide, which in my opinion is much more dangerous and problematic.

Even if the media and government attempted to make Corzine out to be a hero I dont think the majority of the people are going to be buying it. Its going to come down to why did no one see this coming? Its one thing for one business to be under investigation and for there to be a goofy resolution (IE people knew but not one person had all of the info to put it together - and being involved in criminal investigations I can see that and understand how it can happen).

However we now have 2 major corporations where Corzine was involved, both businesses lost / misplaced / what have you a massive amount of money and in the end the result of the investigation is the same - no charges.

Libor scandle - no charges...
Freedy / Fanny - no charges
AIG - no charges
MF Global - no charges
fraudulent forclosure activities across the nation - no charges
etc etc etc - no charges....

The DOJ -
Holder refusing to enforce the laws...
Fast and Furious....
Immigration laws....
Black Panther suit dismissal....
National security leaks....
Suing any state with voter ID laws that are important / swing states while ignoring others.

Enough is enough... Congress has failed to exercise their oversight, the Executive is refusing to enforce laws...

People had better get off their asses and vote this election..

Our elected officlas must be reminded they took an oath of office and not an oath of party.
They must be reminded that the population of the US is not all Republican and not all Democrat and to govern in that manner is rediculous and dangerous.
edit on 16-8-2012 by Xcathdra because: (no reason given)

posted on Aug, 16 2012 @ 09:05 PM
I Like most have been slowly cooked, and have finally reached my limit. I am sure that when they come and cart me away, I will somehow be vilified, made to look the fool, or crazy conspiracy nut.

I grew up WORKING ,, I mean it is instilled in me, that I work hard, and expect a piece of the American Dream,, which I achieved, and presently still live in my home of 15 years, MY FIRST HOUSE ( and I remember the mortgage loan officer saying,, ah you will sell it in a couple years, everyone is doing it,, but I disagreed)

I lost my 'corporate' job before the big economic downturn,, so in many ways was ahead of the 'game'. I decided to be poor, do what I love and try to live differently here in the city/suburbs. My ex ripped me off, and I was stuck with a mortgage alone that originally 3 adults with great jobs paid for, but I was going to keep my piece of the American Dream.

I did. And even at making a 1/3 of what I used to make, and living alone now for these years. I was ''getting by''.
I BEGGED for some sort of help,, got none, BEGGED MORE,, same.

It was MY FAULT ABOUT MY """NUMBERS"" in their game.
So,, I ditched the Credit Cards,, after begging them for help,, and they now have a lien against me. That is OK.
I keep pluggin on.

I QUIT FILING AND PAYING TAXES,, as I screamed about the insanity of our system.

So, I believe in


that is trying to catch me and EAT ME ALIVE.

THE IRS,, of course has garnished my wages, which threw me 3 month behind,, after keepin it up for all these years,, while living on the margins.

I wear Old Underwear, clothes and shoes that have been given to me,, or bought used at goodwill.
I drive a 1986 Ford Escort and work 3 Jobs now just trying to keep my head above water.

I AM DROWNING,, And as Much as I take responsibility for SOME OF THE PROBLEM

IT is not ALL my Fault.

I came here to ATS to try and figure out my next move.
I am still Unsure. but I know I can NOT keep on doing the same thing,, for much longer.

SO,, I am quitting.

I guess they will come and get me ,, of course after the Elections. Because They want ALL MY MONEY,,

I don't have enough for myself or my family and friends who need help, this is insane.

So,, NO ONE is Going to Jail,,,,, here for the MF Global Collapse.. The Elite are to be Preserved.

but they will come and cart me off,, because I refuse to pay the monster anymore.


things would change,,

but people are too chicken even to think of not cowering under the weight of IRS abuse, tax abuse of our government,, sending money to nations when we need it HERE,,, INSANE

so,, just so you know

go look at my Previous Threads and Posts,,,


America is SO SCREWED


I have begged for Ideas ,, ATS,,, WHAT CAN WE REALLY DO??

as you all discuss,, I know ,,,
edit on 8/16/2012 by EarthCitizen23 because: made to look better with space between my rant

posted on Aug, 17 2012 @ 08:40 AM
I find it interesting that this thread isnt getting more attention. At the same time it appears that stories like this strike such a chord will some of us here that see this behavior at the heart of the secrets surrounding many of the conspiracies discussed on this board.

posted on Aug, 17 2012 @ 09:13 AM
Makes me sick to my stomach the way this went down. This one of the greatest pieces of evidence that our system is to corrupt to continue to exist in it's current form. But don't worry about Jon, Forbes is reporting this.

Brace yourself, and your wallet. Jon Corzine may open up a hedge fund.....for Corzine, it appears it won’t be too difficult to raise money for a hedge fund and start charging 2 and 20. Anthony Scaramucci, founder of hedge fund SkyBridge Capital, apparently has no qualms with handing over money to Corzine telling BI, “Yes, I trust Jon Corzine and think if he starts a fund he will make money and be very successful.

Jon Corzine (Yes, That Jon Corzine) May Start A Hedge Fund

I think the greatest comment on that article is "Of course Corzine's not in jail, it's hard to help raise money for a re-election campaign in jail."

We have truly regressed into a near feudal system in the US. There are very harsh and well enforced laws against us "peasants", while the "nobles" like Corzine are able to do what they want with impunity.
edit on 17-8-2012 by jefwane because: (no reason given)

posted on Aug, 17 2012 @ 09:21 AM
reply to post by underduck

I think one of the reasons that it garners so little attention is that Corzine is part of the Democratic elite, much like most of the MSM in the US. I do wonder why the conservative press isn't all over this story. I mean Corzine is a Democrat, former US Senator, and former New Jersey governor. If I were a conservative news organization, I'd be writing "it's been x days since the failure of MFG and still no charges what is the DoJ doing?"; and everytime I was able to ask a question to the DoJ or anyone in office I'd be asking "why hasn't Jon Corzine been charged with a crime?"

Hell with the way this investigation is going, Corzine might still be able to assume the Secretary of Treasury job in an Obama second term like people speculated before the MFG collapse.

posted on Aug, 17 2012 @ 09:31 AM
reply to post by EarthCitizen23

No, it is not all your fault.

I am hazarding to say I empathize deeply with your predicament.

But remember. Those here who give such advice as to express dissent and resistance by denying the machinery it's fuel, rarely - if ever - find themselves on the receiving end of the system's revenge.

Be cautious when you decide to consider not paying bills, rent, mortgage, taxes, and the like. These are things that - whether you have concede to them or not - are deemed your responsibility to others - so declining to 'play by their rules' is not so much "making a statement" as it is a surrender to them to do their worst.

I strongly urge you to seek professional assistance anywhere it is offered.

You will find horrific long lines, people meant to serve your needs that are hostile, disinterested, and dehumanizing to your plight. If you have any baggage that can be held against you it will be. There are those entitled to help... and their are those who aren't until their lives have been reduced to a mere survival need. You will be asked to relive your hell for them on paper over and over. You will be asked for documentation which you have already submitted repeatedly. They will play demoralizing and disheartening games by bouncing you back and forth between offices and people who would rather not see you in the first place. At worst - you may be asked to surrender some of your liberties..., like deciding how much to spend on your family, what they are going to eat, where you are going to live... all of these things are in the "worst case scenario" collection which is quite extensive.

But there is another path... less clear, and more tenuous. Self-serving and vainglorious local politicians love a story they can use to show how awesomely heroic they are. Write to them about your plight. Associations and groups of people devoted to a surface of "warm and fuzzy" love to be able to claim to help... contact them.

Organizations of the institutional class are also fat with the 'best of intentions' - which they need to advertise to secure their revenue.... go to your local hospital... see a social worker, go to ANY church - you needn't be a member of the faithful...

Listen to these wannabe do-gooders.... give them an opportunity to prove they want to, and will help. Some of them are sincere and effective... but don' expect that because many aren't. Be patient as they recount their 'limited' ability to help, their 'dwindling resources' and their other ills. Be prepared to do some volunteer work... they love that.

I understand how it may seem impossible... but sometimes... perhaps even many times... it just "looks" that way.

You are not alone. We are many who are victims of the blindsiding the 'masters' handed us. They raised us with one set of expectations and rules.... then changed them, abused the circumstance, and exonerated themselves from responsibility... because they can not pretend they didn't know... they cannot pretend they, their associates, and posterity, weren't "protected" from the fallout.

I suspect that their time of reckoning will come. It will not be at our hands, not some deities, not some "righteous" movement.... their day of reckoning will come ... when they inevitably betray each other.... and there are no more debt serfs to squeeze... it will be ugliest for them.... then... I am nearly ashamed to say - I won't weep for their plight.
edit on 17-8-2012 by Maxmars because: (no reason given)

posted on Aug, 17 2012 @ 09:43 AM
reply to post by Xcathdra

People had better get off their asses and vote this election..

Our elected officlas must be reminded they took an oath of office and not an oath of party.
They must be reminded that the population of the US is not all Republican and not all Democrat and to govern in that manner is rediculous and dangerous.

Heya, X! star/flag for this....

Excellent post, and the participants' posts are equally excellent.

I agree with all of you, wholeheartedly....

Now.....I have a question. Who are we supposed to vote for? Both sides play the same dirty games with our lives and heads. There is no good choice.

I applaud EarthCitizen and ofhumandescent for their efforts, and have done some of the "don't feed the monster" stuff myself.

The only way I really see to get out of this mess is to RECALL EVERYONE, vote for NO ONE, do away with the electoral college and every single "loophole" of fraudulent, fixed elections, including leaving the election of the President to the House and Senate in the event that NO ONE VOTES.

Then, wipe out ALL DEBT (it's been done, and worked, both in ancient times and modern), get rid of "public trading"....and start over. Reboot. The system -- the engine that is society -- is so broken and out of control that it can not be "repaired." My paid-for, still-running '89 Honda died on the 4th of July, literally....(ironic, eh?)
bent valves, because the timing belt broke. I did not know about the "timing belt" needing replaced periodically, and no one told me until it was too late.

Using that as an analogy.....we (being now not ignorant of "timing belt issues") KNOW what is wrong, and how it could be fixed, AND we also KNOW that those responsible will not be held to account; so what good does voting do?

In my perfect 2012 revolution, NO ONE VOTES, NO ONE PAYS TAXES. Starve and mock them out of power. Then begin again. Do away with lobbying and PACs, eliminate the "parties" altogether, and start over with regular, common-sense, middle-class people taking charge.

Who to vote for? Or just bow out altogether? I choose B, but only because the alternatives suck so badly. And yet, we are stuck.

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