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Laurie Ferber: MF Global Chief Legal Counsel, on CFTC Global Markets Advisory Committee. Where Was She?
Submitted by MFGFacts.com
Close observers of the MF Global saga have been asking from the start, where is Laurie Ferber? Why wasn’t she called into the hearings last week? First to the magnifying glass was Bob English who asked in his early November essay, “Who is Laurie Ferber of MF Global?” English highlighted Ms. Ferber’s extensive background, including her directorship at Goldman Sachs & Co. (and her hand in seeking exceptions for speculative position limits while at Goldman) her legal career and various board work. English reported on the details of Ms. Ferber’s hyper lobbying activity seeking either an exception to, or prevention of, tightening of rule 1.25 — which would disallow use of customer funds for anything other than instruments such as US Treasury bills.
William Cohen published a widely cited article in Bloomberg “Tiny Rule Change at the Heart of MF Global Failure“
Similar to the English thesis, Cohen writes, “But at the moment, her greatest significance may be as a long-time advocate for revisions to a little-known and vastly under appreciated Commodities Futures Trading Commission rule called Regulation 1.25… Then, in February 2004 and May 2005, Regulation 1.25 was further amended and refined to the liking of Ferber and the banks. In the end, the door was opened for firms such as MF Global to do internal repos of customers’ deposits and invest the funds in the “general obligations of a sovereign nation.”
So going into the hearings, many asked where, indeed, was Ms. Ferber? Why wasn’t she called to testify as it is she who would surely have a handle on so many background details? We were reminded of this every time Mr. Corzine eschewed answers with the dismissal to the effect that “it was handled by legal…or legal would know.” So we wondered, what was Mr. Abelow, doing there? He was not able to answer most questions, nor would he have insight into any of the financial or legal operations. Why was he called to testify when Ms. Ferber could have been in his chair?
A little more background: Ferber spent most of her career at Goldman Sachs – 21 years. And like many, English surmises that “Ferber was likely placed at MF Global in 2009 by J. Christopher Flowers, one of Global’s largest shareholders and also Goldman alum. This would have paved the way for ex-Goldman Sachs CEO Jon Corzine to take the helm in February 2010.” That was a long standing opinion heard in the halls of MF Global long before the collapse of the firm.
Last week we missed Lauri: A board member of MF Global, Chief Legal Counsel, a participant in meetings with the CFTC along with with Mrs. Corzine; author of far-reaching effort to prevent tightening up of rule 1.25, and — which has not yet been reported — Ms. Ferber currently sits on the CFTC Global Markets Advisory Committee. (Shades of Trustee Giddens sitting on the SIPC Modernization Task Force, anyone?)
We applaud the quick action the Senate Agriculture Committee has taken, but must respectfully ask Senators Stabenow and Roberts, if we want to understand what went wrong in the pilfering of customer property, where was Ms. Laurie Ferber during the Senate Agricultural Hearings on MF Global?
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Each time I read a reference to a 'Goldman Sach Alumni' it is associated with some malfeasance - Goldman Sachs is now the quintessential organiztion synonymous with crime, greed, & manipulation...and somehow they now personify the definition of 'Bank Holding Company'
Considering their involvement in this scandal, it's sad when JEF is one of the largest gainers in the market - up 23% today.
The only thing we can be sure of with people like Laurie Ferber is that she isn't in jail. That will never happen.
She was where most lawyers are in these trying times of where's the money? on an extended vacation and unavailable for comment.
She had bad cramps.
Where was she?
Probably kickin it someplace warm and sandy holding a drink with a little umbrella sticking out watching Corzine take one for the team.
Hanging out with Gensler, perhaps???
Here's a great take from Nomi Prins on the subject:
http://www.nomiprins.com/thoughts/2011/12/18/jon-corzine-mf-global-and-unaccountability.html
very good question....my guess is that the whore was shredding papers and channeling mitt romney on how to destroy documents and evidence....
The face of evil; smiling at you. There's your perp. The one who does the lobbying is the real facilitator; and she knows it's wrong. Public whipping would be good. Give the next one something to think about.
The bitch needs to be called before...the mob.
Is the Intl Banking Cartel headed by the Fed hitting Iran's central bank spiking oil?
U.S. eyes Iran's central bank as sanctions target
http://chasvoice.blogspot.com/2011/10/us-eyes-irans-central-bank-as-sanc...
The US Plan To Collapse Iran's Central Bank - Inciting Oil Spike?
http://chasvoice.blogspot.com/2011/12/us-plan-to-collapse-irans-central-...
Could you at least have the decency to spam threads with relevant info? Or add the slightest bit on analysis to it?
An irrelevant link to your blog entry consisting of nothing but an embedded CNN video does little to win friends and influence enemies.
Oh, and your page about kills my browser with all the widgets and whatnot.
What I'd by that MILF for a $
These are not the droids you are looking for.
every day I wake up in the matrix and that damn red pill has not kicked in. When will this shit go down?????????
Goldman sent her to North Korea to blow down Kim Jung, good going biatch
Further proof that Goldman Sucks
I hope that woman is aware of her impending suicidal tendencies.
Incest at it's best over there at M0F0 Global.
Embezzlement is always an inside job. In every instance that we've seen of investors getting wiped out, people in regulatory agencies covered for the thief. The technicalities may not have been violated in this case, but moral standards and trust were betrayed. Again, we have to ask, who is guarding the guards? When corporate entities, including Federal agencies, operate immorally and without fear of judgment, the system is completely lawless.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
She was busy making herself scarce with Gensler, the little fuck wad.
She was too busy deleting her inbox and outbox while shredding paper documents.
They couldn't call her. She might have thrown Corslime under the bus. We can't have that. He's too connected.
"Ms. Ferber currently sits on the CFTC Global Markets Advisory Committee."
The vixen guarding the henhouse. Pure Goldman.
It's funny how these legal clowns move around. guess where the clown who was Lehman's General Counsel landed...AIG.
[dupe]
Indeed, Tom Russo, ex-Chief Legal Officer of Lehman, is now the top lawyer at AIG. Similarly, Joe Polizzotto, Russo's #2 at Lehman, took over Bob Khuzami's job at Deutsche Bank--where Khuzami had negotiated several Citi-like settlements with the SEC from the perp's side of the table--when Khuzami became SEC enforcement head in 2009. Joe P was hired into Deutsche by Dick Walker, himself the SEC enforcement head in 2001 who then resigned from the SEC and went directly to Deutsche (where he is GC to this day) just after an SEC investigation into Deutsche insider trading was abruptly terminated. And it was Walker who recommended Khuzami to Mary Schapiro for the enforcement head position in 2009; apparently she listened. And just to round out the picture, all four of these guys--Walker, Khuzami, Russo and Polizzotto--worked together for many years at the Wall Street law firm Cadwalader before fanning out to bring their special skills to the SEC, Lehman and Deutsche.
Stabenow is my congresscritter. Message sent.
Another member of the tribe and a Democrat. Another fkkking Jamie Gorelnick or Rahm.
Money is like incest -- it's best kept in the family.
Another investigator:
http://neweconomicperspectives.blogspot.com/2011/12/president-obamas-view-of-fraud-from.html
"modernization" is the new word for 'changing the rules so what I want to do is no longer illegal'
story of wall st.
I think she's with Erin Callen.
I'd forgotten about her. Here's an interesting follow-up.
http://money.cnn.com/2010/03/05/news/companies/erin_callan_lehman_full.f...
Great article - At least Callan was smart; she must have figured out that she got away with the financial equivalent of Mass Murder & decided she would not tempt fate -
Most of her career at GS? Odd the way that works.
It would be Dimon's first true act of Public Service
Charleston Voice: The Silver Rush at MF Global