So...former Democrat governor of New Jersey (not to mention generous campaign donor), Jon Corzine loots a billion dollars from his customers' accounts in a failed attempt to cover a margin call on a shit investment and Holder's DoJ sees no problems with this. Nope, it's all good. Business as usual in the Omau-mau administration.
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.
Where did all the money go?!? Fuck if Jon Corzine knows. Just hopped up and walked out the door all by itself evidently. He was just the CEO. How can anyone expect him to know anything about his own operation. He was probably too busy fundraising for Democratic candidates. Oh...maybe that's where some of it went.
Corzine 'Simply Doesn't Know' Where MF Global's Money Went
Jon Corzine doesn't know where the $1.2 billion lost by MF Global went, according to the prepared testimony he's planning to give at a House panel on Thursday, in which he says he'll try to answer regulators' questions without invoking the Fifth Amendment as had been expected. Basically, he's telling the House Agriculture Committee "I don't know" instead of "I won't tell you." His testimony explains that the brokerage firm he headed after leaving the Senate placed outsize bets on European debt, and that when regulators challenged its accounting, it couldn't raise enough cash to satisfy them, nor its investors (but we pretty much already knew that). What's making headlines Thursday morning, is the extent to which Corzine says he doesn't know what happened to the firm's assets.
- smackaholic