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Corzine Tells Judge That Due To Purchase Of 50,000 MF Global Shares Before Bankruptcy, He Must Acquit

Tyler Durden's picture


That former Goldman, New Jersey and MF Global head Jon Corzine is absolutely convinced he is innocent of any client money vaporization or wrongdoing, and that the definition of the phrase "to Corzine (verb- to trust your money to a prominent individual and to find it has mysteriously disappeared)" is absolutely arbitrary, is not news to anyone. And if not convinced then at least at a complete loss to what actually happened. One just had to recall all the "I don't recalls" the Honorable Corzine told congress during the makeshift kangaroo court hearing on MF Global's collapse (even if the final outcome was less than desired).  So it's only logical that the Honorable Corzine asked a federal judge to "toss a civil fraud lawsuit accusing him of misleading investors about the risky bets the futures firm was taking before its collapse a year ago." The WSJ reports that "Corzine's lawyers blasted the investors' suit as a "jumble of assertions and accusations" that makes "no sense" that should be dismissed in a filing Friday in U.S. District Court in New York." The plainitffs, now led by Virginia Retirement System, "sued Mr. Corzine, other company executives and the banks that backed the trading firm, claiming they failed to disclose the risks associated with MF Global's European sovereign debt trades using repurchase-to-maturity transactions."

But here is the kicker: MF Global may have mismanaged trades, Corzine's lawyers admit, but he sure didn't hide the risks or mislead investors about the firm's risk appetite or liquidity. Why? Because he was so convinced in the profitability of MFG he bought a whopping 50,000 MF Global shares in the open market two months before the firm collapsed. So let's get this straight: Corzine invested a whopping $225,000 (as a reminder, Corzine was CEO of Goldman Sachs for years) because he believed in the firm and not to give the impression that the firm was "safe" in order to avoid a full blown panic once the realization its was insolvent could no longer be hidden, and be wiped out on all of his stock, option and other MFG holdings? And this is what sophisticated lawyers use as evidence of his innocence? Seriously?

Since we are rather speechless here, we hand it over to the WSJ:

Indeed, the investors' claim that Mr. Corzine participated in a fraud "makes no sense" because, just two months before the company collapsed, he bought over 50,000 shares of MF Global stock on the open market. His lawyers argue Mr. Corzine's stock purchase belies the investors' claim that he sought to defraud them.


As lawyers for the banks that underwrote MF Global's securities noted, trading firms can go under without fraud.


"Companies sometimes fail because of unsuccessful business strategies," said lawyers for the underwriters. "However regrettable that reality, courts long have taught that such failures alone do not give rise to claims under the federal securities laws."


Mr. Corzine's large bets on bonds of troubled European countries panicked investors and led to the firm's undoing. As MF Global frantically tried to sell assets and negotiate a rescue deal, the firm dipped into customer funds that aren't supposed to be touched under federal regulations.


He testified before Congress last year that he was unaware of a shortfall in customer assets at MF Global until hours before its bankruptcy filing.


The Justice Department and regulators at the Commodity Futures Trading Commission and Securities and Exchange Commission have looked into MF Global's demise to determine if there was any intent to remove money from customer accounts that should have been kept separate from the firm's own funds under federal rules. To date, neither Mr. Corzine nor others at MF Global have been charged with a crime.

Sorry, we are still speechless... Because apparently if one dumps a massive 0.01% of their net worth as a sunk cost whose sole purpose is to give the optical impression that all is well, when the only purpose is to buy time from gullible investors, then, then... one may get the impression that Spain, which is doing precisely this is also... no, it's unpossible... broke!?

And that just can't be.


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Tue, 10/23/2012 - 15:38 | 2913664 Big Corked Boots
Big Corked Boots's picture

Fuck Corzine.

And fuck all the leach-wannabe's that pollute the Garden State.

Tue, 10/23/2012 - 15:40 | 2913675 HoofHearted
HoofHearted's picture

Fuck Corzine, fuck Bernanke, fuck Geithner, fuck them all.

As elegantly as I can put it....

Tue, 10/23/2012 - 15:43 | 2913697 tsx500
tsx500's picture

eventually , Corzine will pay .    Patience. 

Tue, 10/23/2012 - 15:47 | 2913712 metastar
metastar's picture

Scumbag thinks he bought himself a get out of jail free card. Brilliant!

Tue, 10/23/2012 - 15:53 | 2913744 dbTX
dbTX's picture

Will be interesting to see who Obama pardons in January. Corzine?

Tue, 10/23/2012 - 15:54 | 2913756 eatthebanksters
eatthebanksters's picture

I hope they make him the 'angry dragon' of general population (google that term)...

Tue, 10/23/2012 - 15:56 | 2913767 Manthong
Manthong's picture

So.. since he put a dime in the poor box, he is not guilty of robbing the church?

Tue, 10/23/2012 - 16:07 | 2913804 HobbyFarmer
HobbyFarmer's picture

So, he bought 50,000 shares two months before the collapse.  Would be interesting to see how many shares he sold over a 6 month period.  Lawyers didn't mention selling shares, just a one-time purchase.

Tue, 10/23/2012 - 16:22 | 2913870 The trend is yo...
The trend is your friend's picture

This a staple move by all the top exec.'s, look at Vickram Pandit of Citigroup.  he purchased a few million worth of C stock as soon as he got in the position and lost 90% of it.  The story they don't mention is he sold his hedge fund to Citi which later blew up and made 200 million and over the next 5 years made another 260 million in compensation. 

Tue, 10/23/2012 - 16:42 | 2913939 Thomas
Thomas's picture

How about "fuck Patrick Fitzgerald" for writing such tripe. This guy is not a journalist. He's a whore.

Tue, 10/23/2012 - 17:09 | 2914026 MillionDollarBogus_
MillionDollarBogus_'s picture

I like Corzine's style...

Tue, 10/23/2012 - 19:26 | 2914418 Pure Evil
Pure Evil's picture

That's radical dude.......high five!

Tue, 10/23/2012 - 20:02 | 2914507 sandhillexit
sandhillexit's picture

That is the most shocking bit.  Fitzgerald, first argument out of the box at Skaddin Arps, and it is a glorified "shit happens."  He really could have had any job or office in America, and this is how he chooses to make his pile.  Corzine plays as if he is too big to fail, and it seems he still stands inside the magic bubble. It's not the firm with the Teflon, its him, its personal. An expedited Justice Dept prosecution for this crook would have won at least Montana, possibly Nebraska for Obama. Even if the case failed in the end.  The country wants someone who will stand up to the Street.   American farmers cannot trust markets that have served them for almost a century. Their cash vanishes, and no one can explain why JPM doesn't have a moral obligation to return. The rules were set aside to save the banks, to save AIG. The vanishing of institutional cash is a travesty. There is a requirement of fiduciary responsibility.  The New York syndicate covers another shortfall and somehow, despite Tester and Kolbuchar and Durbin, the government cannot work out what the legal loopholes are that must be closed.  Not completely clear, but it seems commodity punting is just too valuable to leave to the Midwestern rubes.  The oldest permanent floating craps game wants that action. 

Tue, 10/23/2012 - 20:56 | 2914623 FEDbuster
FEDbuster's picture

So he "lost" $200K MFG stock purchase, but stole $1.6 billion of customer funds during his last days at the firm.  Somehow that makes him a "victim", too?   Is this supposed to be some sort of Jedi mind trick?

Tue, 10/23/2012 - 15:57 | 2913771 Pladizow
Pladizow's picture

America = Dead Man Walking!

Tue, 10/23/2012 - 17:21 | 2914050 Oracle of Kypseli
Oracle of Kypseli's picture

The Goldmanite Robert Steel bought a million shares of Wachovia before collapse also knowing very well where Wachovia was headed. I bet he was also buying puts through European Accounts.

The modus operandi of these scumbags are always the same.

Tue, 10/23/2012 - 17:39 | 2914107 aerojet
aerojet's picture

It's a civil suit, so no pardon.  Also, he would have to have been convicted of a criminal charge before Obama leaves office because I don't think someone can be retroactively pardoned.  Well, in this upside down country, anything is possible, I guess, but it would be rather odd to pardon someone 'just in case they might later be convicted of a particular crime.'  Kind of a smoking gun there, so to speak.  Actually, speaking of smoking guns...

Tue, 10/23/2012 - 17:59 | 2914154 max2205
max2205's picture

A hum. Have they even charged him. No....

How much security did he have? Did he fly in the helo to the roof and elevator down.

This is a travesty

Tue, 10/23/2012 - 15:56 | 2913760 catacl1sm
catacl1sm's picture

I don't think you can pardon someone that hasn't be convicted, let alone indicted.

Tue, 10/23/2012 - 16:05 | 2913802 malikai
malikai's picture

Yea, and for sure the next puppet with his oh-so-close ties to the squid will hardly see a need to pursue his "blue" bretheren.

Tue, 10/23/2012 - 18:20 | 2914214 nmewn
nmewn's picture

I'll be blunt about this, anyone who willingly invested with Corzine got exactly what they deserved. Its like screwing around with a snake and then complaining it bit.

For other helpful hints & investing advice...go to Corzines new blog ;-)

Tue, 10/23/2012 - 19:28 | 2914421 Pure Evil
Pure Evil's picture

And, highly popular with the masses too I might add.


I like your style..........High Five!

Tue, 10/23/2012 - 16:28 | 2913887 ToNYC
ToNYC's picture

Since MF Corzine isn't sayin', who's to think he used his own NJ farm tax free sunk funds rather than Joe Doaks's hard-work'd dough? Goldman Jon built his own Hell as long as he happens to live; that was his choice since Hell is optional.

Tue, 10/23/2012 - 15:52 | 2913741 DoChenRollingBearing
DoChenRollingBearing's picture

@ tsx500  + 1  Usually, God/nature issues a rough justice, I agree that he will pay.


I hope so, that he will pay and pay and pay and pay.  As far I am concerned, Jon Corzine is the biggest P.O.S. on planet Earth.

Almost any severe punishment is OK w/ me.  Taking away gold bars is a step too far.  Bakrupting customers is a tep too far.


Tue, 10/23/2012 - 16:56 | 2913988 petolo
petolo's picture

Cellmate to Bernie Fuckoff and some 250 lbs.gorilla who hasn,t had a conjugal visit for 5 years would be to good for Cornhole-zine.

Tue, 10/23/2012 - 20:51 | 2914608 FEDbuster
FEDbuster's picture

Make sure their roomate has HIV, too.

Tue, 10/23/2012 - 15:57 | 2913763 HellFish
HellFish's picture

I'll help you heat the tar.

Tue, 10/23/2012 - 16:00 | 2913775 kliguy38
kliguy38's picture


Tue, 10/23/2012 - 16:04 | 2913797 insanelysane
insanelysane's picture

Corzine will never pay.

Corzine ordered his underlings to move funds to his buddies at JPM.  

Supposedly Corzine doesn't know MFG doesn't have the funds and his underlings follow orders and ship client money to JPM.

Somehow, although Corzine supposedly doesn't know MFG doesn't have funds, JPM is pretty sure MFG doesn't have funds and asks to have MFG sign document stating money is not clients' money.

MFG doesn't sign the documents for JPM because things are "hectic."

JPM keeps the money even though they never got the signed document which seems to be illegal.

Corzine and the Bankster syndicate file bankruptcy so that JPM will never have to return money or be held accountable because the clients are subjugated to the creditors.

Corzine and JPM live happily ever after.  Investment 300k in stocks with a return of a couple billion.  Not bad for less than a year's work.

Tue, 10/23/2012 - 16:17 | 2913852 tsx500
tsx500's picture

i never mentioned anything about method of payment .........

Tue, 10/23/2012 - 16:37 | 2913919 eddiebe
eddiebe's picture

tsx 500: Eventually we're all dead.

Tue, 10/23/2012 - 16:58 | 2913993 ShrNfr
ShrNfr's picture

No accounting for some people's sexual habits, but I prefer my own wife thank you.

Tue, 10/23/2012 - 15:57 | 2913694 TruthInSunshine
TruthInSunshine's picture

From:      The Offices of The Hon. Jon S. Corzine

To:         My fellow Americans & Patriots, ever vigilant


Dear Fellow Citizens,

I went long MF Global just prior to its absolute and speed of light (or fiber optic cable) implosion on the order of 50,000 of its shares. If that's not direct evidence of my uber-bullish state of mind regarding MF Global, nothing can be.

If the glove doesn't fit, I dare say in the court of public opinion, let alone a court of law, you bitchez must acquit.

Rock on with your bad selves.


Sincerely & With Respect,


The Hon. Jon S. Corzine*

"This one the pimp hand remains strong in.  Herh herh herh."


*Former United States Senator (D-NJ), Former Governor of New Jersey, Former CEO of Goldman Sachs, Former CEO of MF Global (a former Primary Dealer), and prominent Obama Bundler

Tue, 10/23/2012 - 16:09 | 2913813 malikai
malikai's picture

The Honourable Corzine is just misunderstood after all.

He's one of the good guys, fellas.

Tue, 10/23/2012 - 16:29 | 2913892 Uncle Remus
Uncle Remus's picture

We see that...

Tue, 10/23/2012 - 16:20 | 2913862 ParkAveFlasher
ParkAveFlasher's picture

P.S. No, fuck you.


Tue, 10/23/2012 - 23:19 | 2914853 Jam Akin
Jam Akin's picture

Just look at that distinguished resume:  Write in - Corzine for President!

Tue, 10/23/2012 - 17:07 | 2914012 Wile-E-Coyote
Wile-E-Coyote's picture

Never trust anyone with a beard. A disproportionate amount of serial killers have beards,look it up.

The bastard should hung his bollocks with piano wire.

Tue, 10/23/2012 - 19:14 | 2914396 jumbo maverick
jumbo maverick's picture

Santa? Is that you Santa? Say it ain't so.

Tue, 10/23/2012 - 17:47 | 2914128 jose.six.pack
jose.six.pack's picture

Free Jon Corzine!

Thu, 10/25/2012 - 11:26 | 2918608 robertsgt40
robertsgt40's picture

Rob a bank from the outside, get 20yrs.  Rob a bank from the inside, walk

Tue, 10/23/2012 - 15:39 | 2913665 jomama
jomama's picture

rehypothecated lies, bitchez.

Tue, 10/23/2012 - 15:46 | 2913716 ZackLo
ZackLo's picture

Whoa now, .01 is a big number now....Here in the new normal we call that "Investment Grade"

Tue, 10/23/2012 - 15:38 | 2913671 knukles
knukles's picture

Au contraire, it's prima face evidence that he thought he could get away with the crime by further self enrichment.

Tue, 10/23/2012 - 17:23 | 2914055 Piranhanoia
Piranhanoia's picture

"I didn't steal the shit, so you must acquit",   O.J. Corzini.

Tue, 10/23/2012 - 17:50 | 2914140 unrulian
unrulian's picture

the wallet just won't quite fit in his back pocket

Tue, 10/23/2012 - 15:41 | 2913674 Gene Parmesan
Gene Parmesan's picture

Astonishing. F John Corzine and his whole corrupt, scumbag family.

Tue, 10/23/2012 - 15:41 | 2913676 fonzannoon
fonzannoon's picture

who is the next mf? this market tide looks like it's heading out.

Tue, 10/23/2012 - 15:53 | 2913751 darteaus
darteaus's picture


Tue, 10/23/2012 - 15:43 | 2913681 LawsofPhysics
LawsofPhysics's picture

Sacrafice a little in order to steal 100,000 times that amount.  Nothing changes until we see real consequences for bad behavior at ALL levels of society.  The courts can deliver the justice or the mob can.  Your choice, stupid fucking sheep.


Want "markets" to rally?  execute this fucker, publically.

Tue, 10/23/2012 - 16:03 | 2913790 XitSam
XitSam's picture

"Mr. Corzine's large bets on bonds of troubled European countries panicked investors and led to the firm's undoing."

They even have the nerve to blame the victims!

Tue, 10/23/2012 - 16:26 | 2913880 epwpixieq-1
epwpixieq-1's picture

and maybe, just maybe, the time will come when, some honest sensitizes also can, it is up to anyone's understanding what a justice is, and their own conviction to deliver it.

There are a lot of way to incentize a person to deliver such justice, the more people start having the sense that they are robbed the more such incentives will grow, and some day the simple realization will criticize: The world will be a lot better place if such educated criminals timely take their share in providing exceptional quality material for the fertilizer-producing hardworking worms.

Tue, 10/23/2012 - 15:41 | 2913684 Dr.Vannostrand
Dr.Vannostrand's picture

Tuesday humor?????

And Fuck You Bernanke!!!

Tue, 10/23/2012 - 17:09 | 2914023 Wile-E-Coyote
Wile-E-Coyote's picture

Corzine is Bernanke's bitch.

Tue, 10/23/2012 - 15:41 | 2913686 francis_sawyer
francis_sawyer's picture

Just pay some jew lawyers some billable hours, bribe a jew judge for a favorable verdict and let the jew Corzine walk... I'm all for putting a swift end to this nightmare so I can get back to watching some jew TV for entertainment...

Tue, 10/23/2012 - 15:50 | 2913724 I Am Not a Copp...
I Am Not a Copper Top's picture

Channeling Mel Gibson are we?

Tue, 10/23/2012 - 15:53 | 2913747 francis_sawyer
francis_sawyer's picture

Explain to me how, in broad terms (& using a probability matrix), my statement is inaccurate...

Tue, 10/23/2012 - 15:59 | 2913772 I Am Not a Copp...
I Am Not a Copper Top's picture

Didn't say it was inaccurate, you just sounded a lot like Mel

Tue, 10/23/2012 - 16:15 | 2913825 francis_sawyer
francis_sawyer's picture

So "truth" isn't as important as what "it sounds like"... Well then ~ it's a good thing we have the MSM to "sound things out for us"... Otherwise, where the hell would we be?...


The TRUTH is... This story is going to eventually die out (much as I described above)... & the TRUTH is, that it is going to die out, largely, because of the combination of inputs that I mentioned... So basically (notwithstanding Mel Gibson or anyone else) ~ I don't give a FF what it "sounds" like...

Tue, 10/23/2012 - 16:23 | 2913867 I Am Not a Copp...
I Am Not a Copper Top's picture

Lighten up Francis - there are a lot of decaf brands on the market that are just as tasty as the real thing

Tue, 10/23/2012 - 16:28 | 2913889 francis_sawyer
francis_sawyer's picture

Gotcha!... I'll just imbibe a lot of flouride & chamomille... kick back... & allow YOUR BFF's... to incrementally shave off a piece of my (& the ROW at large's) hard won savings & prosperity each & every day... Thanks for your advice ~ I feel a lot better now...

Daisy... Daisy...

Tue, 10/23/2012 - 15:53 | 2913750 SMG
SMG's picture

That Elite who control the things you mentioned, are Luciferian and NOT Jewish.  Correct blame will be SO important when the pitchforks, ropes, and torches are in the street.

Tue, 10/23/2012 - 19:01 | 2913769 francis_sawyer
francis_sawyer's picture

Oh OK... It's the 'Luciferians'... my bad... But since I'm bored ~ let's break things down a bit... You stated "the things you mentioned"... You were referring to exactly what?

I'm guessing:

- The legal profession ~ (just so you know, there aren't any Jewish lawyers, there are only 'Luciferian' lawyers)

- The entertainment industry ~ ((just so you all know, there aren't any Jewish actors, producers, or directors... They're all 'Luciferians')...

- Corzine himself ~ (He's not 'Jewish' ~ He's 'Luciferian')...

Is that correct?... If not ~ please correct me... BTW ~ On this thread (again ~ because I'm bored), there has been an uncanny UP to DOWN arrow symmetry... Within seconds, when an UP arrow appears, a DOWN arrow appears (almost as if it's a Presidential election polling [DESIGNED] to keep the masses interested [& paying the bills] until the last moment... Just saying... Hey ~ I <3 ZH... So ~ Tylers... do what you have to to bring about sudden death overtime... The patrons will certainly have to buy another round until the outcome is finally in the books...

Tue, 10/23/2012 - 19:53 | 2914487 supafuckinmingster
supafuckinmingster's picture

francis_sawyer: "Corzine himself ~ (He's not 'Jewish' ~ He's 'Luciferian')..."


According to wikipedia he's of the United Church of Christ.

Tue, 10/23/2012 - 21:15 | 2914615 francis_sawyer
francis_sawyer's picture

Well then ~ color me 'EMBARRASSED' for my lack of true understanding... In fact... Here's a FOTO of Corzine celebrating his 'Church of Christ-manship' a few years back...


My apologies to ALL... Carry on World... Shalom...

Wed, 10/24/2012 - 20:40 | 2914858 helping_friendl...
helping_friendly_book's picture

Looks like francis has the drop on you supafuckinmingster !

The Jews lie constantly to keep you confused as to their origin and motives. 

Take the lying Jew David Gergen you claims to be Christian when it suites his needs whenit is obvious he is the Jew mouth piece for CNN.

Wed, 10/31/2012 - 22:35 | 2936521 helping_friendl...
helping_friendly_book's picture


Tue, 10/23/2012 - 15:58 | 2913770 catacl1sm
catacl1sm's picture

I actually have a pitchfork. Although, it's probably really more of a broadfork.

Tue, 10/23/2012 - 16:14 | 2913836 LMAOLORI
LMAOLORI's picture



Obama will protect them from pitchforks and he has hollowpoints

Obama came into office vowing to end business as usual, and, in the gray post-crash dawn of 2009, nowhere did a reckoning with justice seem more due than in the financial sector. The public was shaken, and angry, and Wall Street seemed oblivious to its own culpability, defending extravagant pay bonuses even while accepting a taxpayer bailout. Obama channeled this anger, and employed its rhetoric, blaming the worldwide economic collapse on "the reckless speculation of bankers." Two months into his presidency, Obama summoned the titans of finance to the White House, where he told them, "My administration is the only thing between you and the pitchforks."

The bankers may have found the president's tone unsettling. Candidate Obama had been their guy, accepting vast amounts of Wall Street campaign money for his victories over Hillary Clinton and John McCain (Goldman Sachs executives ponied up $1 million, more than any other private source of funding in 2008). Obama far outraised his Republican rival, John McCain, on Wall Street--around $16 million to $9 million. As it turned out, Obama apparently actually meant what he said at that White House meeting--his administration effectively would stand between Big Finance and anything like a severe accounting. To the dismay of many of Obama's supporters, nearly four years after the disaster, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions.

Tue, 10/23/2012 - 16:42 | 2913946 LawsofPhysics
LawsofPhysics's picture

Lots of people have hollow points.

Besides, the same financial houses that backed Obama are now backing Romney. Please, wake the fuck up, there is only one party, for the banks and financial houses, by the banks and financial houses.

Tue, 10/23/2012 - 16:07 | 2913808 oldman
oldman's picture

Come on, dudes,

This entire episode of justice is far too intriguing to muddy it with so any personal comments Where is your sense of humor? No one can possibly take this in any personal way unless 'personally' daaged by events, in which case, you certainly have an oldman's condoleneces.

Are you still voting for a 'president' btw? If so, there is just no hope for any of us-----

Please try to always keep in mind that we are dealing with a severely and decrepit gene pool----it will only be over when it is over            o  

Tue, 10/23/2012 - 21:59 | 2914742 Fake Jim Quinn
Fake Jim Quinn's picture

Corzine is a Quaker, you dim witted moron

Tue, 10/23/2012 - 15:42 | 2913690 Dr. Richard Head
Dr. Richard Head's picture

I was good friends with a sit-in judge back in the day.  He represented my now wife in an underage drinking and driving charge.  This lawyer walked up in front of the judge for my wife's defense and stated, "Come on judge.  You know me!"  The charge was dropped down to wreckless operation just like that.  It's not what you know, but who you know that matters in this world. 

Tue, 10/23/2012 - 15:43 | 2913700 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 15:53 | 2913745 Bam_Man
Bam_Man's picture

Is that a yarmulke Corzine is wearing? Or just a cheap, out-of-place hairpiece?

Tue, 10/23/2012 - 16:05 | 2913798 williambanzai7
williambanzai7's picture

Probably both.

Tue, 10/23/2012 - 16:10 | 2913818 malikai
malikai's picture

If the gold ring don't fit, you damn sure better acquit!

Tue, 10/23/2012 - 16:05 | 2913782 Cognitive Dissonance
Cognitive Dissonance's picture

Oldie but goodie.

<Don't worry. OJ will get him off.>

Tue, 10/23/2012 - 16:25 | 2913882 Seasmoke
Seasmoke's picture

where is Kim and Khloes dad ???

Tue, 10/23/2012 - 18:23 | 2914222 jonjon831983
jonjon831983's picture


omfg roflmao

Tue, 10/23/2012 - 15:44 | 2913704 catacl1sm
catacl1sm's picture


Tue, 10/23/2012 - 15:45 | 2913705 Lost Wages
Lost Wages's picture

Spain is better than Corzine. At least they can make paella. I bet Corzine can't even do that.

Tue, 10/23/2012 - 15:45 | 2913706 ar01
ar01's picture

Tyler: it's clear his lawyers are sticking to this evidence because it's the best evidence they have. It doesn't mean it's good on any objective scale, but they're paid to do what they can for their client. I wouldn't be surprised, frankly, if Corzine saw the impending doom (or at least a substantial risk of one) and his lawyers advised him that it would be beneficial to buy some stock to look like he is "invested". 

Tue, 10/23/2012 - 15:52 | 2913742 Winston Churchill
Winston Churchill's picture

This is civil ,and a jury trial.

Balance of probability, not beyond reasonable doubt, is the burden.

Better try and settle out now, if thats the best his lawyers can come up with.

Hope Corzine enjoyed the money while he had it.Transitory.

Tue, 10/23/2012 - 16:06 | 2913801 ziggy59
ziggy59's picture

If there are any US voters in that jury, hes a free man..
Because ice cream has no bones

Tue, 10/23/2012 - 17:54 | 2914143 Boxed Merlot
Boxed Merlot's picture

they're paid to do what they can...


And by the way, who exactly is footing his legal expenses?  Are those frn 50K monthly cointributions to papa Clinton's Teneo firm mean he's on the hook for this, or are some other crony paybacks being called to pony up? 

Tue, 10/23/2012 - 15:46 | 2913709 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 15:47 | 2913721 LongSoupLine
LongSoupLine's picture

holy shit William...that's fucking brilliant.  One of my all time fav's right there ol' boy!

Tue, 10/23/2012 - 16:02 | 2913788 Cognitive Dissonance
Cognitive Dissonance's picture

If the hangman's noose fits you must not acquit.

<No problemo. One size fits all bro.>

Tue, 10/23/2012 - 16:12 | 2913800 LouisDega
LouisDega's picture

Hello William, This is  Johnny Cocrahns attorney. Do you have a minute? We need to talk

Tue, 10/23/2012 - 16:54 | 2913980 Careless Whisper
Careless Whisper's picture

now that's EPIC

Tue, 10/23/2012 - 15:47 | 2913714 LongSoupLine
LongSoupLine's picture



"He didn't buy those shares" - best bud BarryO

Tue, 10/23/2012 - 15:50 | 2913726 knukles
knukles's picture

"I didn't bundle those foreign contributions"

Tue, 10/23/2012 - 15:46 | 2913717 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 16:24 | 2913875 Seasmoke
Seasmoke's picture

boys must be 12YO and Corzine was only 7.....maybe we can get him on this

Tue, 10/23/2012 - 16:40 | 2913930 ParkAveFlasher
ParkAveFlasher's picture

Banzai has totally been reading Seanbaby.

If not, +1 anyway.

Tue, 10/23/2012 - 15:47 | 2913719 Everybodys All ...
Everybodys All American's picture

who's the guy on the left with the red tie?

Tue, 10/23/2012 - 15:49 | 2913725 orangedrinkandchips
orangedrinkandchips's picture

taylorville, illinois' finest!



Tue, 10/23/2012 - 16:13 | 2913834 Ness.
Ness.'s picture

Haha  -  As a kid I used to visit my cousins (Morrisonville, Farmersville, Girard, Springfield) and we used to chase pussy while driving around the square in T-Ville.


Good Times.  


Corzine is a scumbag.  

Tue, 10/23/2012 - 15:49 | 2913730 Bam_Man
Bam_Man's picture

"'Cause I bought that shit, you must acquit!"

Tue, 10/23/2012 - 15:50 | 2913731 Bam_Man
Bam_Man's picture


Tue, 10/23/2012 - 16:01 | 2913781 Jena
Jena's picture

"Since I'm full o' shit, you MUST acquit!"  


"Oh, and I found that glove OJ lost..."

Tue, 10/23/2012 - 16:03 | 2913794 ziggy59
ziggy59's picture

You didnt buy that shit...

Tue, 10/23/2012 - 15:51 | 2913734 Jugdish
Jugdish's picture

Celente, La Russo, Boodavi, Manchini

Tue, 10/23/2012 - 15:59 | 2913735 LouisDega
LouisDega's picture

Who is John Corzine? The anals of my mind is set to auto delete. Doing so  prevents brain farts 

Tue, 10/23/2012 - 15:52 | 2913737 darteaus
darteaus's picture

If that's the evidence they choose to present of his innocence, then he's guilty.

Tue, 10/23/2012 - 15:51 | 2913738 NickPapagiorgio
NickPapagiorgio's picture

Uh-huh.  Because we can't hold a Chief Executive accountable for illegal actions that could have only taken place with Chief Executive authorization.  Especially if they forgot to cancel a daily buy order.


Where's the money MF?

Tue, 10/23/2012 - 15:51 | 2913739 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 15:53 | 2913743 fuu
fuu's picture

What courthouse is this in?

Tue, 10/23/2012 - 16:43 | 2913952 ParkAveFlasher
ParkAveFlasher's picture

Nice try.  Unfortunately for us, the trial actually took place three weeks ago.  Plenty of photos were taken to issue in January's newspaper.

Tue, 10/23/2012 - 18:50 | 2914318 fuu
fuu's picture

DeAngelis et al v. Corzine et al, U.S. District Court, Southern District of New York, No. 11-07866

No luck on the actual document itself.

Tue, 10/23/2012 - 15:55 | 2913754 Conman
Conman's picture

Did he buy shares outright or jsut exercise options to buy, which means he got them at a lower price anyway.

Tue, 10/23/2012 - 16:15 | 2913843 AlaricBalth
AlaricBalth's picture

Straight purchase according to SEC form 4 filings.

Tue, 10/23/2012 - 15:55 | 2913757 Shizzmoney
Shizzmoney's picture

If Romney was smart, he'd use Corzine in ads to paint Obama as an establishment guy.

Too bad Romney is on the par 5 at 17, with Corzine, as I type this.

Tue, 10/23/2012 - 17:20 | 2914051 shovelhead
shovelhead's picture

Romney could have a Willie Horton moment.

TPTB won't allow it.

Tue, 10/23/2012 - 15:56 | 2913761 Benjamin Glutton
Benjamin Glutton's picture

hilarious...jon corzine bad of wall streetwalkers good.


they ALL play the same games until 'liquidity' is withheld,imo.

Tue, 10/23/2012 - 15:56 | 2913768 Unprepared
Unprepared's picture

Stupid lawyers.


They should have convinced Corzine to join the plaintiffs in the civil lawsuit claiming a settlment equal to that of all other plaintiffs against himself for self-defrauding and self-misleading. Then another lawsuit against himself for self-defamation.


Definition of a perpertual legal case.

Tue, 10/23/2012 - 15:59 | 2913776 I Am Not a Copp...
I Am Not a Copper Top's picture

And cue the "off the lows" cunt!

Tue, 10/23/2012 - 16:00 | 2913777 Yen Cross
Yen Cross's picture

If the PONZI FITS , The Judge must (NOT) aquit!

Tue, 10/23/2012 - 16:45 | 2913778 Joebloinvestor
Joebloinvestor's picture

He "lost" money (his own) on a bad bet.

Ergo that negates the THEFT of other peoples funds to use in his bet, since everyone would have made money (I am sure the people he STOLE from would have received a premium for the UN-AUTHORIZED short term "loan").

Circular logic and his lawyers should go to jail with him.

Tue, 10/23/2012 - 16:01 | 2913784 Massholio
Massholio's picture

The good old Chewbacca defense.

Tue, 10/23/2012 - 16:02 | 2913786 ziggy59
ziggy59's picture

Can anyone make this shit up? Seriously...

So, a bank robber (no not the typical bank robbing us) robs a bank that he has deposited some money in the week before should get off on the same insane no-logic.

He couldnt have been the one because he deposited money into it..

Its Happy Hour Somewhere,

Tue, 10/23/2012 - 16:07 | 2913787 NoDebt
NoDebt's picture

I believe him.  I don't think he knows what happened to the money.  Seriously.

And if that's true it should scare the crap out of you more than fraud, misleading investors, lying and breaking a few minor securities laws like the "separate account" rules.

It would be like asking him what happened after the accident on the Jersey Turnpike (or was it the Parkway- I forget).  He really had no idea.  "All I did was order the driver to do 100+ MPH on a public road under adverse conditions and then I woke up in a roadside ditch all busted up!"

THAT kind of "not knowing".  The kind of guy who tells MF Global to do 100+ MPH under adverse market conditions and is then shocked- SHOCKED, I TELL YOU!- that the firm suffers a catastrophic accident that hurts a lot of innocents.

The word for that is RECKLESS.  As in reckless endangerment. 

Tue, 10/23/2012 - 17:00 | 2913906 Zero Govt
Zero Govt's picture

Sorry but that's bollocks

when the Senate soft-balled pre-agreed questions at Corzine he was allowed to get away with murder (robbery) in answer

Corzine was asked where is the money, he replied, "I do not know where the money is"

Namely he doesn't know where the money is now would he know where JP Morgan put it now

The actual question referred to his time as CEO and how he'd authorized segregated accounts leaving MF Global that he stitched-up a simple accounts woman... there's no way in hell anyone at that level would authorise transfering segregated client money to an external corporation like JP Morgan without an Executives explicit agreement/decision, especially with the huge sums involved

there is a money trail any basic accountant could find, there is an internal email account at very least on the decisions and again at least an email trail to the external corporations either demanding said money or 'innocently' receiving it

isntead what's happening is the usual NY system crooks cover-up for the ingratiated elite like Corzine.. it stinks to high heaven, MF Global customers should take matters into their own hands and pelt the crook with rotten eggs (that's one idea)

Tue, 10/23/2012 - 16:04 | 2913796 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 16:10 | 2913817 Yen Cross
Yen Cross's picture

 Is that body of water the "moat", around Corzines house. nice work wb-7 ;-)

Tue, 10/23/2012 - 16:21 | 2913859 Zero Govt
Zero Govt's picture

there should be a crane marked, "Govt", in the picture doing the actual thieving... the rich parasite then shoving brown envelopes into the crane drivers (politcians) pocket

Tue, 10/23/2012 - 16:29 | 2913896 Yen Cross
Yen Cross's picture

 The "crane" is conveniently "hidden", just over the horizon Z/G. If you stay up all night, you will see the "shovel" reach over every couple of hours.

Tue, 10/23/2012 - 16:56 | 2913979 Zero Govt
Zero Govt's picture

Ah yes, thanks, I see the crane now

Thankfully we don't have to imagine too much, the Presidential race is on, the sponsors (parasites) shoving brown envelopes (election funds) in the candidates (crane drivers) pockets is openly in our face and for all to see

which fish will the crane driver on election choose to pick, steal and skim off the good people?

How about give them a red herring to suck on ....Don't Pay Tax

Tue, 10/23/2012 - 17:02 | 2914003 Yen Cross
Yen Cross's picture

Excellent question. I suspect the crane driver has a "pension/entitlement" (disclosure clause), in his/her night time operations. We may never know.  I can only rehypothecate at this juncture. I'm sure a book is in the works. ;-)

Tue, 10/23/2012 - 16:07 | 2913806 lemonobrien
lemonobrien's picture

i think he was just covering his ass ($225,000); and as for the lawsuit being conjecture, that's what it is until it is proved true or false.

Tue, 10/23/2012 - 16:25 | 2913879 helping_friendl...
helping_friendly_book's picture

You are guilty until you prove the allegations are not true unlike criminal proceedings.




Tue, 10/23/2012 - 16:08 | 2913809 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

I robbed my local grocery store. But I bought a satsuma before, so I must be acquited.


I rest my case.

Tue, 10/23/2012 - 16:16 | 2913821 Zero Govt
Zero Govt's picture

Amazing when it comes to anything of how his firm went down with $millions under his (mis)management he "can't recall"

..yet when he has to defend a fraud case he recalls all the necessary info needed to claim it should be thrown out. 

I'm surprised Corzine can remember enough about his firm to mount a defence or put in a plea ...he should for consistency claim he has memory loss and be struck off from any future position of responsibility to manage anything above a hotdog stand

what a f'ing scumbag 

Tue, 10/23/2012 - 16:13 | 2913830 williambanzai7
williambanzai7's picture


Tue, 10/23/2012 - 16:23 | 2913872 Zero Govt
Zero Govt's picture

that's the NYPD not giving Corzine the chase, but a VIP escort home to his estate

Tue, 10/23/2012 - 16:54 | 2913982 Yen Cross
Yen Cross's picture

Love the "center median" graffiti  WB-7. Jersey plates, are becoming more and more common on the "Left Coast".

Tue, 10/23/2012 - 16:15 | 2913841 SubjectivObject
SubjectivObject's picture

This is just Corzine's latest attempt to get the popular meaning of "Corzined" changed to something less malignant and persistent (as in weeds is persistent).  The hope is that with each in the series of yet more unbefreakinglievable corruption dramas foisted on the mediated public, that something else will stick, and time can more easily heal all wounded memories.  Easy peasy.

Tue, 10/23/2012 - 16:40 | 2913932 optimator
optimator's picture

He's probably going to have "Corzined" patented.

Tue, 10/23/2012 - 20:39 | 2914582 SubjectivObject
SubjectivObject's picture

Optimator, my favorite beer.

I have about 50 of the pint+ bottles that I'm aging to 5 years in the basement.

Tue, 10/23/2012 - 16:16 | 2913847 Richard Head
Richard Head's picture

Only child rapists are more sub-human than that POS Corzine.

Tue, 10/23/2012 - 16:20 | 2913864 Seasmoke
Seasmoke's picture

so he lost 225,000 and made a BILLION......thats a good bet, where i come from

Tue, 10/23/2012 - 16:28 | 2913885 chinaboy
chinaboy's picture

Buy stocks and get accquited for all crimes. Wow, Corzine is opening a page in American cronism.

Tue, 10/23/2012 - 16:36 | 2913895 Bear
Bear's picture

He probably made $1,500,000 when he hedged his $225,000 stock purchase with puts and that only to cover his ass. I would love to see his trading activity account. Steal billions and cover it with transparent toilet paper that you probably made money on ... it's represents all that is bad in America.

I don't blame Corzine ... he's just a geedy and evil bastard as are many, many Wall Streeters.

I blame Washington, who refuse to see evil for what it is. Justice, Truth and Liberty ... gone from our leaders

Tue, 10/23/2012 - 16:45 | 2913958 mendigo
mendigo's picture

The silence from Washington and the MSM is deafening and very telling.

I would not have believed it possible - the absense of response.

What are they afraid of?

Tue, 10/23/2012 - 21:13 | 2914652 Bear
Bear's picture

They are afraid that their man, Obama, will not be elected.

Tue, 10/23/2012 - 17:39 | 2914109 toomanyfakecons...
toomanyfakeconservatives's picture

You know the line about evil flourishing when good men do nothing. Soon, good men are going to have to do something or be devoured by evil. That's why I'm banking on the good guys in the military backing up the MASS ARRESTS of all these clowns...

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