A Spurious Motion on Behalf of the MF Global Trustee

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Tue, 11/29/2011 - 20:52 | 1928122 Ron Hera
Tue, 11/22/2011 - 15:00 | 1903497 MrBoompi
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You are not a capitalist if you fail to take advantage of an opportunity that allows you to legally take someone else's money.  And you are not a US banker if you fail to take advantage of an opportunity to illegally take someone else's money.  Even if you "get caught", your punishment will only be a fine of about 5-10% of the money you stole and you can even keep your job!

Mon, 11/28/2011 - 16:02 | 1922319 11b40
11b40's picture

....and get a bonus.

Tue, 11/22/2011 - 14:41 | 1903387 Uncle Remus
Uncle Remus's picture

Go long incense. The stench of corruption is going to get worse. It's just dis-gusting.

Tue, 11/22/2011 - 14:36 | 1903358 willien1derland
willien1derland's picture

So much for the 'rule of law'...this is even the application of the 'Golden Rule' These are thugs - pure & simple - It is my hope that the Karma Police show up & provides the BITCH SLAP OF THE CENTURY! 

Tue, 11/22/2011 - 15:33 | 1903683 donsluck
donsluck's picture

Unfortunatly karma is random.

Tue, 11/22/2011 - 14:35 | 1903346 Antifederalist
Antifederalist's picture

JP Morgan to buy MF Global Stake in the LME.


Well isn't that special.  Hey if they get a priority lien on the Assets right next to the Segregated Account Holders they will just be paying themselves for the purchase.



Tue, 11/22/2011 - 14:30 | 1903316 Pitchman
Pitchman's picture


MF Global is a fractal in a frying pan.

 Trillions of CDS with nothing to back it

Europe's Voluntary Haircuts?, CDS Market Sham & B of A: Less Than Zero

The Disappearance of Chivalry - George Santayana & Murder By Joystick

Tue, 11/22/2011 - 14:24 | 1903279 kaiserhoff
kaiserhoff's picture

Only on ZH.  Now we are getting somewhere.

Saw a conservative gab fest where some one said Solyndra would be the end of Obama's political career.  Maybe not, but this shoud be.

Tue, 11/22/2011 - 14:21 | 1903267 imsaul0968
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Tue, 11/22/2011 - 14:15 | 1903242 11b40
11b40's picture

$1.2 billion.  Think about that.

If we tallied up all the $ that all the prisoners currently sitting in American jails actually stole, do you think it would come to $1,200,000,000.00?

These numbers being tossed around during this financial debauchery are simply amazing.  Millions used to get our attention, but now it takes billions just to cause an eyelid to be raised.  The theft is on such a scale as to be incomprehensible.

Tue, 11/22/2011 - 14:19 | 1903262 Bananamerican
Bananamerican's picture

"The theft is on such a scale as to be incomprehensible"

at that level, criminals and sociopaths become safe from prosecution....

Tue, 11/22/2011 - 14:14 | 1903237 Smiddywesson
Smiddywesson's picture

The Pentagon announces it lost a trillion dollars just before 911

Iraq is looted and their money is taken

Pallets of money shipped to Afghanistan and Iraq just disappear

and the accounts of hard working customers of MF Global are wantonly looted and there are absolutely no answers about where the money went.

If anyone thinks they can ride out this storm in ANY paper account, with this degree of disregard for the rule of law, they are crazy.  Nothing is safe from this level of thievery.  We are slipping into a post-Soviet culture, where anything that isn't nailed down will be stolen.  Transfer everything you have into physical.  Pay the early withdrawal penalties and take it out now, before a trustee takes it out for you.


Tue, 11/22/2011 - 14:46 | 1903415 dexter_morgan
dexter_morgan's picture

I wonder if Gerald Celente would dispute that today?

Tue, 11/22/2011 - 14:09 | 1903219 Joebloinvestor
Joebloinvestor's picture

The CME and the CFTC are scared shitless that the truth is; THERE IS NO CONTROL.

"Supposed to segregate"?


Violation of "rules"


How about a violation of LAW as in THEFT OF FUNDS?

I hope the CME is found culpable.

Don't even get me started about the INEPT SEC who relegated their authority to police to these clowns at the CME and CFTC.

Tue, 11/22/2011 - 14:16 | 1903245 El Viejo
El Viejo's picture

Congress says we need a stronger SEC. Sooo SEC goes out and rents office space. Then congress cuts budget to SEC.

Tue, 11/22/2011 - 13:57 | 1903162 Nobody For President
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The fix has been in since the day the judge was appointed.

Tue, 11/22/2011 - 13:55 | 1903153 Clowns on Acid
Clowns on Acid's picture

If Corzine was such a "winner" (ex CEO of Goldman, ex Gov of NJ, largest Obama bundler, US Sec of Treasury in waiting) why does "sloppiness of bookeeping" exist w/ MF Global?

Why isn't Corzine being held with feet to the fire (waterboarding?) to explain where the $$ are?

Where is Justice Dept. (Eric the beHolder) on this? Where is Big Media on this?

Tue, 11/22/2011 - 14:41 | 1903389 Uchtdorf
Uchtdorf's picture

Fellows, give it up. The sheeple are just not going to get riled up about this. I was recently talking with a fairly savvy business guy and mentioned MF Global...Jon Corzine...commingling of funds...hello? His eyes were 100% glazed over. He knew nothing about this. I am convinced that it is too late for justice to reign on this planet in its present condition. We will have to go through the fire. See you on the other side.

Got preps?

Tue, 11/22/2011 - 15:42 | 1903733 andybev01
andybev01's picture

...got perps?

Tue, 11/22/2011 - 15:25 | 1903640 Uchtdorf
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A U.S. judge on Tuesday sentenced Antoin "Tony" Rezko, a former Chicago fundraiser for President Barack Obama, to 10-1/2 years in prison for corruption and extortion. 

Rezko's conviction was among a slew of guilty pleas that led to the conviction in two trials of former Democratic Illinois Governor Rod Blagojevich and several of his aides.


A Syrian immigrant who earned millions in the real estate and restaurant businesses, Rezko has been imprisoned since his 2008 conviction on 16 fraud and attempted bribery counts.


"Enough is enough. Corruption in Illinois has to stop," U.S. District Judge Amy St. Eve in handing down sentence to the now-gaunt, 56-year-old Rezko.


Rezko became a minor campaign issue for Obama during the 2008 presidential race. The two had become close friends and Rezko had raised tens of thousands of dollars for the then-Illinois state senator's successful U.S. Senate and presidential campaigns.


At one point, the Republican National Committee referred to Rezko as Obama's "money man".


Rezko also advised Obama in the purchase of the future president's large home on the south side of Chicago. Rezko's wife purchased and then resold to the Obama family a side yard to the home they could not afford initially. (http://www.reuters.com/article/2011/11/22/us-usa-crime-rezko-idUSTRE7AL22X20111122)

Tue, 11/22/2011 - 13:53 | 1903143 Forgiven
Forgiven's picture

Title 18, U.S.C., Section 242
Deprivation of Rights Under Color of Law

This statute makes it a crime for any person acting under color of law, statute, ordinance, regulation, or custom to willfully deprive or cause to be deprived from any person those rights, privileges, or immunities secured or protected by the Constitution and laws of the U.S.

This law further prohibits a person acting under color of law, statute, ordinance, regulation or custom to willfully subject or cause to be subjected any person to different punishments, pains, or penalties, than those prescribed for punishment of citizens on account of such person being an alien or by reason of his/her color or race.

Acts under "color of any law" include acts not only done by federal, state, or local officials within the bounds or limits of their lawful authority, but also acts done without and beyond the bounds of their lawful authority; provided that, in order for unlawful acts of any official to be done under "color of any law," the unlawful acts must be done while such official is purporting or pretending to act in the performance of his/her official duties. This definition includes, in addition to law enforcement officials, individuals such as Mayors, Council persons, Judges, Nursing Home Proprietors, Security Guards, etc., persons who are bound by laws, statutes ordinances, or customs.

Punishment varies from a fine or imprisonment of up to one year, or both, and if bodily injury results or if such acts include the use, attempted use, or threatened use of a dangerous weapon, explosives, or fire shall be fined or imprisoned up to ten years or both, and if death results, or if such acts include kidnapping or an attempt to kidnap, aggravated sexual abuse or an attempt to commit aggravated sexual abuse, or an attempt to kill, shall be fined under this title, or imprisoned for any term of years or for life, or both, or may be sentenced to death.

Tue, 11/22/2011 - 13:55 | 1903151 Forgiven
Forgiven's picture

Is it possible that the Trustee and CME and CFTC are attempting to deny the customers rightful control of customer property?

Tue, 11/22/2011 - 13:51 | 1903134 Antifederalist
Antifederalist's picture

If the Commodity Customer Committee is not recognized by the judge then we will know the fix is in. 

Tue, 11/22/2011 - 13:51 | 1903132 SirIssacNewton
SirIssacNewton's picture

This doesn't come even close to passing any smell test or the smallest fairness test.  All these conflicts of interest with nary an honest person to be found and all the clients are lined up to be fleeced...ergggg.

Tue, 11/22/2011 - 13:45 | 1903106 Amish Hacker
Amish Hacker's picture

What does it say about the diligence and honest intentions of the investigators that Jon Corzine hasn't even been questioned?

Tue, 11/22/2011 - 13:42 | 1903093 LawsofPhysics
LawsofPhysics's picture

More assinine paper pushing in an attempt to cover up a clear series of crimes and fraud.  The rule of law is dead, justice is a joke, let the paper burn already and let's get this free-for-all started.  Got physical and know the value of your labor?  You better.

Tue, 11/22/2011 - 13:41 | 1903084 El Gordo
El Gordo's picture

Call in Eric Holder.  He should be able to make the whole thing disappear without leaving even a whisp of smoke - better than a magician.

Tue, 11/22/2011 - 13:31 | 1903027 SwingForce
SwingForce's picture

Maybe Corzine injected radioactive dye into the corrupt system before it collapsed?

Tue, 11/22/2011 - 13:26 | 1903005 NotApplicable
NotApplicable's picture

This saga just gets stranger and stranger.

Kind of answers the question of whether or not this was a take-down.

Meanwhile, you can bet that the shredders (both digital and physical) are running overtime.

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