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Reply With QuoteSeeing more and more of this coming out from this administration. Bundlers for the administration get special deals. Just have to look at Solyndra et. al. The green economy stimulation. Crapitalism!
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Moderator
The short answer is: Corzine bundles big money for Obama.
The longer answer is... longer...
It's not like the Obama administration hasn't done anything:Jon Corzine stole from his customers. Until Corzine is put on trial in a court of law, no one will be able to get to the truth. He is being protected by the party in charge. The political waters are so virulent that they don’t want to see him tried. The event happened last October. Surely there is enough information available to convene a grand jury and begin indicting people. The public is being played. We are schmucks.
What say you?Here is the proposed rule,
Futures brokers would need to get approval from a top executive before making big withdrawals from customer accounts under a rule now pending and referred to in the industry as the “Corzine rule”, after MF Global’s former CEO Jon Corzine.
Why is this stupid? Because it wasn’t a lack of rules that allowed Corzine to steal from customer accounts. It was a lack of ethics on the part of one person. Corzine stole the money to margin bad trades he made through his MF account. He invested in European bonds, chasing yield and seeking to make big proprietary profits for MF Global. Their earnings were under huge pressure because the operations of the company weren’t particularly efficient, and the yields on US Treasury debt are so low that they weren’t able to earn a projected return on excess deposits.
The Corzine Rule | Points and Figures
Secretary of State
Seeing more and more of this coming out from this administration. Bundlers for the administration get special deals. Just have to look at Solyndra et. al. The green economy stimulation. Crapitalism!
If a man were behind four months on his mortgage and was talking to you about his plans to build an addition on his home you would think him daft and delusional. But in Washington, ignoring a current crisis to discuss grand dreams is called “boldness” and “vision.”
2011 USPOL Most Valuable Poster (MVP)
ahoy Tsquare,Originally Posted by tsquare
the author states that the MSM haven't covered the Corzine story; an idiotic statement. 'tis actually hilarious that this self described "serial entrepreneur, angel investor and independent trader" doesn't read the Wall Street Journal...or the New York Times, lol. 'tis an old story, matey. 'tis wonderful that Jeffrey Carter crawled out from belowdecks to catch up with the rest 'o the country.
on to the actual content; i agree that the Democrats, Senator Bob Menendez in particular, be protectin' Mr. Corzine...but that really doesn't surprise me, matey. they protected every CEO on Wall Street (includin' the captains 'o Lehman Brothers*, them crooks at Merrill Lynch, them comedians at Goldman who sold garbage whilst bettin' against the clients who bought the garbage, and on, and on, and on...).
and no, matey, don't even pretend that under a Republic adminstration these 1%ers would get sent to the brig.
'tis bi-partisan protection, all 'round.
YARRRRRRRRR!
- MeadHallPirate
* - actually if i recall correctly, one or two folks at Lehman were investigated, but i don't know what came 'o it. i do know that none 'o the skippers got sent to prison. skippers, in general, be a special lot....they be the job creators, afterall.
so they usually never end up servin' time.
President
The real issue is that in order to put someone on trial, they have to be charged with something, and in order to be charged with something, there has to be probable cause to believe that they actually did it. "Something sucky happened, therefore arrest the guy in charge" is not a valid prosecution procedure.
However, justice is moving along. There is a memo that says Corzine ordered the use of customer funds to cover investment losses. That's illegal. However, they need the testimony of the person who wrote that memo that Corzine told her to write it. She may get immunity, and if she does, Corzine may be in a heap of trouble.
But as of right now, there is not enough evidence to charge Corzine or anyone else. There might be later, but there isn't right now.
Vice President
Since when is stealing from the people to give to the rich not an acceptable policy?
Liberals fail to recognize that modern conservatives are direct evidence of the failure of the public education system.
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