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

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

"Authorities" say there simply isn't enough "evidence" to charge MF Global executives with any crimes !!

No surprise.

Jon Corzine is good buddy buddies with the current administration.

Another favor has been called in I think.

Plus that, MF Global "only" lost about $1 billion dollars for their investors.

Chickenfeed.

Yahoo News story

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.

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.

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.

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

Related Thread from last December
Corzine "helped" Obama with the stimulus


Get a Load out of this insanity
related YouTube video

No wonder the stimulus didn't work. Download the RNC briefing book, "My Wall Street Guy: Barack Obama & Jon Corzine"

"Obama-Corzine Were Wrong"

Where is OWS now?

Isn't Corzine exactly the type of Wall Street manipulator that OWS was protesting, with the sanction of Obama and the DOJ telling the cops to stand down and let the protests continue?

Now that Corzine has been identified as misusing client funds, DOJ will not prosecute. Millions were stolen and lost from pension funds, IRA's, and retirement accounts never to be recovered.

Why isn't OWS now standing in front of the White House demanding the same justice they demanded on Wall Street while Corzine was at Wall Street? Could it be because he is an Obamabuddy?

I think this goes to prove that OWS was just a tool of George Soros who controls Obama and his appointees.

Just like the FOB (Friends of Bill Clinton), the FOOb (Friends of Obama) can get away with anything and and OWS could care less. There were and are just a political tool of the present administration.

This is the new "normal" - create a Wall Street bubble, buy, buy, buy, short sell, and make billions or trillions. Then pay off all of the right politicos and walk away with more money than one can even imagine.

It began in the early eighties and now they're really getting good at it.

Problem with it all is that the vampires are getting too greedy and we, the people, are running out of blood.

~Heff

reply to post by xuenchen


When you knock over a 7-11 with a handgun, you'll get 10 years or more in some places and you'd deserve it too.

Take direct part in the swindle of billions...even trillions of dollars and it's an 'unfortunate incident' or accounting errors compounding to yaddah yaddah and blah blah.

Bottom line.... A normal guy fries for pennies while the big boys laugh at billions. ...and this crap doesn't know what a political party is. At their level, thats an inside joke to play on at parties.

I don't think it would matter which party was in power....
it's kind of a natural law, dependancy=servitude, and well, because of the fiscal policies of both parties, way too much money has been borrowed, they are servants to the banks. they ain't gonna bite the hand that feeds them.

and it's been more than iras and such that have been ripped off. they hit the farmers real good, the same farmers that are now watching the crops burn up because of the drought. and it woudn't surprise me one bit if they didn't have a way to manipulate the weather and been involved in some weather wars between the nations. so, well, when you find yourself hungry, with no food to be found, you will know who to blame.....
the farmers were considered valid collateral damage on the quest for money, power, and probably war!!!!

We are no longer a Republic, we are now a Plutocracy. It's been going that way for a while now, but now they no longer try to hide it.

Originally posted by xuenchen
No One Will Charged With a Crime for the MF Global Collapse

"Authorities" say there simply isn't enough "evidence" to charge MF Global executives with any crimes !!

Absolutely amazing.

With all the bank laws in place, anti-money-laundering, etc..where people can't even move $10,000 around without the government tracking every penny, they lose billions of dollars, and nobody knows where it went, and nobody is responsible?

They are tracking the pennies, but can't keep track of the pounds?

If there ever was a case for money laundering, then that's got to be it. That money was washed so clean, it became "invisible".

Originally posted by Cybermerc
We are no longer a Republic, we are now a Plutocracy. It's been going that way for a while now, but now they no longer try to hide it.

You mean a "Corruptocracy".

reply to post by Hefficide


Did Corzine even make money off this other than his base salary?

Eric Holder hasn't been charged and there is actual evidence that he comitted crimes. At least he could play the race card...

reply to post by Nite_wing


Utter uninformed horse poop. Occupy did protest this when it happened, it's a major talking point in our community as is our growing disgust of Obama's cronyism most typical of the GOP. Occupy protesters have also been arrested numerous times for protesting outside the Whitehouse and Obama campain headquarters all over the country.

Congrats to you for buying the Wingnut media BS that Occupy is liberal or democrats or has anything to do with Soros.

So lulzy.

And rofl at this... GOP and it's supporters claim Obama is trying to shackle banks and big business with more regulations, yet he's the best thing that's happened to Capitalism in ages. All of you wingnuts are twisted in knots, it's hilarious and Obama's only remaining redeeming quality.

Good god my face hurts from laughing.