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Corzine is Going to be the Best Show Since Watergate
Corzine is Going to be the Best Show Since Watergate
Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
Finally after five months of investigations comes the Jon Corzine MF Global bombshell Friday [Bloomberg: Corzine Ordered Funds Moved to JP Morgan]. The Bloomberg article references an e-mail written by Edith O’Brien, the assistant Treasurer at MF Global and a memo written by congressional staffers. A few aspects are of note: first that Corzine “gave direct instructions” to transfer $200 million in segregated consumer funds to JP Morgan for payment on an overdraft and used a lower level functionary O’Brien to carry it out. Then in a clear violation of fiduciary responsibility JP Morgan’s risk officer asked MF Global for a letter stating these funds were not customer segregated accounts, but then took the money anyway. The chief counsel for MF Global nixed the letter JPM sent over as “too strong”.
O”Brien is to testify before Congress on Wednesday, but will plead the Fifth. This suggests she has not been offered a deal, or immunity.
The captured regulatory agencies have not weighed in on this now nearly five months after this historic crime. On the overall issue of fraud and regulatory capture, view this Max Keiser and Mark Melin clip.
The Corzine ties into the labyrinth of the Obama Administration are dark and deep. It is a virtual 6 degrees of Kevin Bacon sistema (the word used for this form of government in Brazil) and in every sense of the word a criminal enterprise. Here are various clips of Obama and Biden heaping praise on Jon Corzine.
This is what Obama says about Jon Corzine. I can see why Obama likes him so much. They both have the same moral compass.
“Like many of us in public life today, Jon is a leader who’s been called to govern in some extraordinary times. He’s been tested by the worst recession in half a century — a recession that was caused by years of recklessness and irresponsibility and a do-nothing attitude. It was caused by the same small thinking that has plagued our politics for decades — the kind of thinking that says we can afford to just tinker around with our problems, we can put off the tough decisions, defer the big challenges. We can just tell people what they want to hear instead of what they need to hear. Well that’s not the kind of leader that Jon Corzine is.”– Barack Obama, July 2009
.
-and “John Corzine is the smartest man in the room”….Joe Biden
It is hard for me to imagine that Obama can shuck and jive this one. Is he really going to revert to his shameful 60 minutes interview where he makes excuses for criminal conduct on Wall Street and twists the logic around to make himself look righteous. I have to think he may just turn the dogs loose on Corzine, but where does that lead? Corzine was more than a fund bundler, crony, and influence peddler. He was instrumental in stacking the Obama administration with his associates. What happens with CFTC apparatchik and former Corzine employee at Goldman Sachs, Gary Gensler for example? CFTC was charged with regulating MF Global. What about Eric “Empty Suit” Holder, Obama’s attorney general, who never met a Wall Street crime he didn’t like? And what about JP Morgan’s role in this? This should and might be the biggest story since Watergate. My favorite from the wag comment gallery: “Can we possibly take down Corzine, JP Morgan, and Obama all in one fell swoop? No way my life gets that good!!! No way.”
This will also be the supreme test of the two-tiered Justice system in this country. I am certain that Corzine will claim:
1. There was only an alleged call, no email from Corzine?
2. No form returned to JPMorgan?
3. Did JPM allow the transfer illegally?
4. And “Segregated accounts can include customer money and excess company funds.” So if he did want the money transfered did someone mess up and not transfer just company funds?
Still
1) Ignorance of the law is not a valid defense.
2) The violation of fiduciary duty could result in civil liability, even if Corzine is not criminally liable.
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Seems not to be true.
Remember that US President Gerald Ford pardoned ex-President Nixon in advance of all trials et cetera. And Nixon was forever after un-hassled.
Seems that US Presidents have unlimited power in that regard.
President Barack Obama could stop the executions of his fellow black people railroaded into the legal injection death chamber but he doesn't.
Corzine in Crystal Clear Waters. Let's Hypothecate?
You hypothecate. He just doesn't look that cute to me.
Even if he has a billion or two stashed away in the Caymans.
There is no difference between the two right now, they actually may have something in common soon, 1 has Impeachment Bill procedings starting against him right now, and the other Muppet may be keeping a bunk warm for Obama in the near future.
How about sending these two on four tours of mine sweeping in Afghanistan.
High ranking criminals blatant and in your face living large,loving life.
I did not know ......... its complicated..... nice answers that seem to work well.
No assholes you are Scum ripoffs and you enjoy your impunity.
After all, you Two are very high up on the list of " The Cult of Criminality"
Top ten list. Good work Slime.The Teflon Don had nothing on you two.
There's never only one roach:
http://www.wondercostumes.com/imgzoom/bag-of-roaches-69081.jpg
http://mediad.publicbroadcasting.net/p/kplu/files/201110/jamie_dimon.jpg
So, exactly who put this email into the public view?
In politics, nothing like this happens by accident.
Who released the email? I'll bet on Edith O'Brien, one of the erstwhile Assistant Treasurers for MFG. She had been called to testify this coming week before the House Financial Oversight Panel, and she probably felt that she was in the early stages of getting set up to be the patsy. How? Corzine could argue that, as CEO, he wasn't aware of every detail of MF's daily operations, but a similar denial from O'Brien would not be plausible.
So O'Brien falls back to a much stronger line of defense, supported by the email evidence: I'm just a low-level drone who had to do what the CEO ordered me to do. When she does testify, watch her take the Fifth Amendment repeatedly.
As an aside, I think it would be a good idea for the House panel to learn the difference between "Oversee" and "Overlook."
Good call
Especially months after the fact, I'm starting to think maybe, just maybe, there needed to be a sacrifice. lets face it, jonboy wreaked havoc everywhere he went, and now hes just a liability. after this just what does the guy bring to the fucking table?
Maybe they didn't like where attention was being focused. If this guy goes down fast theres your answer..The way I see it his only worth is this 1 last distraction for the prostate pinchers...
So jon, I think you will finally feel whats its like to be played...
Honor amongst thieves....
http://www.youtube.com/watch?v=P3B9T2uL2XE
May be different this time around, Obama may not be able to help him after all. Vaporization of powers.
May be different this time around
Nope, here is the plan of attack: (1) have the MSM completely ignore this story or bury it on page 23 of Section B of the newspaper (2) Have Eric Holder and the DoJ not issue any indictments (3) Claim there is too much partisanship in Washington when the Repubs raise a stink.
Problem solved. Jon Corzine continues to live a life of luxury. Obama continues to fashion himself the champion of Main Street "folks" (God I hate it when he uses that word) against Wall Street and Big Oil.
What's not to love.
I mean come on.
:-)
Corzine's an upscale Marion Berry. Too much of a loose cannon to let him continue to function "unsupervised". He's probably on the walkum talkie to Karla Katz now planning his comeback party.
If things get get bad he will "Wag The Dog". No one will care about MF Global after the dirty bomb goes off and we retaliate against Iran/Syria/North Korea/(fill in blank).
Iran/Syria/North Korea/Iceland
There will be no dirty bomb in NYC. They have spent too much money to stop it and too many people woudl have to answer this time. They got a free pass on 9/11. They would not get a free pass this time, especially after they have set up so many little tables to search bags and gut the Constitution.
This is not September 10, 2001. There would be no "get out of jail free" card for a huge "terrorist" attack on this shithole known as New York City. Heads would have to roll.
These sociopaths better have a Plan C.
Huh? Where did he mention a city name.
Do you think the false flag is going to be executed by the perpetrators in their own back yards? Where else but NYC?
Depends on who you want to take out opinion-wise, by instilling fear.
Based on that, some big city within Left Coast, or East Coast, or Ivory Institutions, or Bible Belt, or Retirement States.
For something of the scale we are talking about here, I find it rather unlikely NYC would be chosen again.
How could anyone even tell if they exploded a "dirty" bomb in NYC?
"Oh my goodness I am shocked, shocked I tell you, to find that we have homegrown terrorists in our midst that even our amazing groping technology could not ferret out (or is that marmet?), but fear not, dear Americans, we have our very best brownshirts on the case."
You can tell how incensed that honourable team in the White House, and Democrat Party, are at this robbery by the number of Press Conferences they've had over this criminal affair
http://www.youtube.com/watch?v=buRO9TSlScQ&feature=player_embedded
http://www.youtube.com/watch?v=xm3VMrKqJSA&feature=player_embedded#!
Glad the Vids have cleared up any lingering doubts where the President, Vice President and Democrats stand
moral compass? these people have no morals ergo navigation by said lack of morals means intrument is moot. and Corzine won't be the best show since Watergate because unlike back then, when people sort of cared just a bit, today this will pass with hardly any notice....hell Corzine may even get completely off the hook....a pardon....compass....amoral.....immoral....fuck North, Oliver, longitudinally, latitudinally!
The mere thought that Corzine will do hard time is laughable. Some peon(s) will get the shaft, but not the honcho.
Did Banzai photoshop the handcuffs in the above photo? Genius!
Simple and subtle but I think it's my favorite Banzai ever. Says it all.
What's the over/under on a 'Ken Lay' type of event?
Or a sudden remorse attack, culminating in suicide? From behind? etc.
We're not looking for suspects outside the home at this point, but we're still looking for an explanation as to how he managed to fist himself to death.
Apparently, he didn't realize that in Germany, we use 220-volt currents. It took us 30 minutes just to get the smile off of his face.
I have a friend that lives in Corzine's building in Hoboken. He saw Johnny walking in the street a few weeks ago. Jon was all by himself. I couldn't believe the tale but this is not a guy that lies. Do the math.
Your friend should "do the right thing".
Yeah. I saw Corzine on the local bikepath. He looked really unhappy. Don't worry, John. Nixon is not Prez, this will not be Watergate. ZOGMedia will not devour Zero, or you, or any of their own. Foolish Ilene.
Thank God the Red Team is not corrupted by the same bankers. Long live Hank Paulsen. I know -- because the bankers are corrupt and have figured out how to game the system, let's cut out the middle man and have "zero govt." Then the bankers will behave.
not that i'm an advocate of "zero government" but we are fast approaching a point where the brute discipline of the marketplace without bailouts would lead to a self sustaining recovery quicker than the current utter corruption which seems to require layer after layer of growing government guarantees of, especially shadow, banking assets/collateral/derivatives, all with no reduction in risky behavior by banks.
didn't work in japan. won't work in the u.s. or europe. should have followed the nordic model: http://research.stlouisfed.org/publications/es/09/ES0910.pdf
If by 'Nordic Model', you mean nationalization and spin down, then yes.
But, in capitalist fairy pig world, banker failure costs you, comrade taxpayer.
Isn't Sweden trying to do away with cash money and go 100% electronic? Older article below from 2010 but I've seen them talking about it last week. I'm not sure how anybody could be so blind in regards to Nordic socialism, their population is low, population density even lower and they have a lot of natural resources that's the only reason their system hasn't blown up yet.
http://www.bbc.co.uk/news/world-europe-10538032