This page has been archived and commenting is disabled.
Vapor Capital Asset Mismanagement LP: Jon Corzine Planning Hedge Fund Launch
Shortly after Jon Corzine not only destroyed MF Global but "vaporized" $1.6 billion in supposedly segregated client funds which were illegally commingled with operating cash, Jon Corzine had a brief encounter with the legal system including several kangaroo court sessions in Congress, which ultimately led to absolutely nothing for two simple reasons.
Reason #1:
And Reason #2:
In fact, Jon Corzine's quiet disappearance into the shadows was apparently only punctuated by one new notable entry in the Urban Dictionary for the term "Corzined"
... but not before rumors emerged that Corzine, whose dream has always been to run his own capital, would start a hedge fund. In August 2012 we wrote that "after 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case." And algos... And glitches... And faulty software installs... And some junior person who has long since left the company... and, and, and, lots and lots of passive voice... Because in the Banana republic of the crave, no bundles can ever go to jail, no matter how heinous the crime, which is not to say other places are better: in Thailand you shoot your secretary in the stomach during dinner with an Uzi and you don't even pay a $600 fine. But at least it puts things in perspective. So what is next in store for this former man of power? "Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans. He is currently trading with his family’s wealth. If he is successful as a hedge fund manager, it would be the latest career comeback for a man who was ousted from both the top seat at Goldman Sachs and the New Jersey governor’s mansion." So will Jon will be buying Italian bonds? We don't know. Ask him yourself."
However, this led absolutely nowhere, leading many to speculate that Corzine was just waiting for a correction before reentering the asset mismanagement business.
Well, nearly three years later of manipulated, artificially propped up markets floating on $22 trillion in central bank assets, Jon Corzine has had enough of waiting for a correction which almost came (and then Bullard brought up QE4) but not really. So, as the WSJ reports, the time has come for another push for Vapor Capital Asset Mismanagement LP. To wit:
on S. Corzine, the embattled former MF Global Holdings Ltd. chief executive and ex-chairman of Goldman Sachs Group Inc., has discussed plans to start his own hedge fund in recent months, according to people familiar with the matter.
The fund would start with cash from Mr. Corzine’s personal wealth and a handful of outside investors.
One can almost guess which Clinton foundation would be among the seed invators.
Mr. Corzine said he had been speaking with about a half-dozen potential investors, and projected around $150 million in assets under management, one of the people said.
Will the fund invest all of its AUM in 2 year Italian bonds? All answer will surely be revealed in time, but first Corzine has to get over that whole "criminal" stigma:
Mr. Corzine most likely wouldn’t be able to launch a fund until legal proceedings against him over MF Global have been resolved. Pretrial motions are expected to go at least until February of next year. The Commodity Futures Trading Commission in June 2013 filed civil charges against him and is still collecting evidence for a possible trial.
However:
Mr. Corzine’s supporters point out that he hasn’t been criminally charged and that after MF Global collapsed, his bets on the bonds of Portugal, Italy and other European nations were ultimately proven on target.Mr. Corzine’s supporters point out that he hasn’t been criminally charged and that after MF Global collapsed, his bets on the bonds of Portugal, Italy and other European nations were ultimately proven on target.
Yes, Corzine's supporters are spot on: the ECB joined the Fed and soon the PBOC in bailing out every single clueless investor and E-trade baby in the world, however for Corzine his particular bail out came a few months too late. As for why Corzine was never criminall charged, see the first two images above.
For now Corzine is keeping a low profile:
“Jon Corzine is not managing anybody’s money and has not asked a single investor to put money into a fund,” said Andrew Levander, a lawyer for Mr. Corzine. “He is gratified that others might want to invest with him.”
Furthermore, unlike 3 years ago, any attempts to reach Jon Corzine through his BBG header will meet with failure: not even Corzine's phone is listed.
However, those who truly seek the former Goldman chief, NJ governor, and MF Global "vaporizer" will surely find:
Mr. Corzine, who styles himself a so-called macro trader in the tradition of Paul Tudor Jones or George Soros, has maintained some Wall Street ties. In office space borrowed from a friend in midtown Manhattan’s Time-Life Building, Mr. Corzine has been trading his own money, people familiar with the matter said. At present, Mr. Corzine employs one assistant, one of the people added.
But before the long line of eager investors stretches around the corner, a quick reminder: this is a man who literally "vaporized" clients funds. Even the CFTC, run until recently by a fellow former Goldmanite (and soon, America's next Treasury Secretary), was unable to get Corzine entirely off the hook:
The CFTC alleges that Mr. Corzine oversaw the misuse of customer funds and said he bore responsibility for the brokerage’s rapid descent. The agency also charged him with “failure to supervise diligently,” a violation of CFTC rules that mandate top officials at regulated firms maintain strong oversight of operations and employees.
The agency is hoping to levy a monetary penalty on Mr. Corzine and bar him from trading commodities again, something that might hamper his ability to run a fund.
Which is a problem, because in a world in which few trade individual stocks and the central banks merely transact in futures such as ES or GC, this would mean that Corzine is unable to trade what few liquid instruments remain in the so-called market.
Unless, of course, he decides to hire Burno Iksli formerly of the JPM London Whale, and corners the penny stock market, hoping that unlike the Italian bond fiasco, at least once central bank will come to his rescue just in time, before the next career ending margin calls arrives.
»
- 20250 reads
- Printer-friendly version
- Send to friend
- advertisements -
Fee Jon Corzine!!
Hookers and blow for the whole bar!!!
Corzine recently hosted a "Ready for Hillary" fundraiser.
One commentator was quoted as saying, "Not Even Scandal-Plagued Jon Corzine Is Too Sleazy For The Clintons To Cash In On".
“Just like the Clintons, Ready For Hillary will take money from anyone. "
LMFAO
And one day after he fucks all his investors over we will once again hear the term: "We Corzined some folks."
But this news must be a ZH wet dream...can't wait to see what kinda scrutiny ZH puts Corzine under for this. And not just Corzine...but those who would invest with that dirtbag piece of shit. I hope they get "Corzined" one day too...anyone that greedy or stupid deserves it.
He can call his new venture AIG* Funds
*And It's Gone
No wait
https://www.youtube.com/watch?v=4TlPo0yCSa4
And that, ladies and gents, is how long it takes before the "all clear" is sounded on criminal negligence and failure to properly supervise when you play at that level.
Maybe you can help Hillary make a bezillion dollars in cattle futures to fund her campaign while your "clients" (sheep for fleecing) eat all the losses on the losing trades you move out of her account.
Fucking scumbag.
...Annndd it's gone!
Vapor Capital? You can't make this shit up....
The Corzhole Fund?
The man who stole $1.2 Billion with the help of J.P. Morgan Chase from farmers and little old Ladies is free and clear to do it all over again!
The U.S.A. is rotting from the inside out.
Welcome to Potterville!
"Flush Fund".
Kill him.
I'm sorry if I can't yuk it up over Corzine. He is truly the poster boy for everything that is wrong with this country. I'm just surprised I guess that no one yet has up and shot that son of a bitch. A lamp post from which to hang would be too good for the likes of him.
"but first Corzine has to get over that whole "criminal" stigma"
Gee,... ya think?
Let that be a lesson to all you future Bernie Madoffs and Martha Stewarts. As we learned from D-Bag Corzine, Ollie North, and Monica's Boyfriend...the answer is always, "I don't know."
Bleacher-creatures, would-be desperadoes
Clutch at plausible deniability
Don't touch that dial
We're in denial
Until the showcase trial on TV
Well unfortunately the vampire tribe will shove their blood funnel into the womb of every American soccer mom to extract the funds from the next generation to bail this maggot infested heap of half breed afterbirth out of his next corzining.
Both well written and true!
In other news, Bill Cosby announces he's ready to rape again.
Cosby's balls must be itching big time by now.There is a solution: "Corzine them".
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
Fascism on Parade.
Move along....nothing to see.....nothing can be done about it.
Although I must say....in that picture with Hillary trying to slip some tongue to Jon, above Jon's right shoulder......is that the ghost of J.P Morgan !!??
http://media-cache-ak0.pinimg.com/736x/ce/64/a7/ce64a7f29709403a385e8c9e...
http://hedgeaccordingly.com/2015/03/stalking-jon-corzine-from-n-j-gov-senator-to-ceo-of-both-goldman-sachs-mf-gobal.html
you are fucking with me, no?
no
Well of course, your name is blindMAN, not blindSHEEP.
are you fucking with me too?
Just a poor attempt at bringing some levity to the ultra-depressing shit show known as our current, new normal reality.
next thing you will be calling for the
freedom of madoff to lead the fed from outside
the detention center area.
I'm sure Marc Mezvinsky would be happy to join...
"Vapor"?!? LOL John Corzine and Vapor - of course!!
The Federal Reserve will have a trading desk at the CME in Chicago.
Manipulate the NYSE (William Dudley) and the CME (Charles Evans).
I'm rooting for Corzine this time around.
Any idiot who trusts this fuckhead with their money, deserves it..
Nada like a money man in the democrats pockets!
I'm sure he launders money for the Dems, the Pentagon, CIA, NSA, drug rings, JP Morgan, GS, etc, etc....
A modern day bag man. He will not be short of clients.
He will not be short of clients.
Your right..
I also think that sooner or later, Pueblo may want his fucking money back..
My guilltine says that one day he will be "short."
The banksters need to repay us.
All in on the Hillary Corzine Ticket for the white house!
Only way it could get better is if its a three way corzine hillary Dimon run, replacing all three branches of govt.
Make it a foursome have to include Goldman Sachs in there too
Isn't that the four horseman of the apoclypse in the bible? Shit the end IS near!!
(FYI, Johnny Boy was a Goldmanite)
We Corzined some farm and ranch folks.
(With Gary Gollum Gensler's rather long nose up Corzine's butt, riding shotgun the whole way.)
IF prison is off the menu then it's probably best he be left to mismange his own ill gotten gains than be seated at the grifter's round table as a member of Hillary's Cabinet.
This asshole has sucked enough public dime already.
Shame; What's that?
Don't leave out that towering mass of intellect Joe Biden calling Corzine his finance uber-go-to guy...
https://www.youtube.com/watch?v=xm3VMrKqJSA
Where do I send my money? This guy can't lose!
"Where do I send my money? This guy can't lose!"
Just leave it in your account, and he'll get to it.
The banksters need to repay us.
If you are not satisfied enough from your first thefts, steal, steal again.
I wonder if he has trouble sleeping at night because, unlike many of his friends and colleagues, he cannot "return?"
The banksters need to repay us.
Corzine is really high up on my Crimes Against the American People List (CAAPL), treason list.
Like "nose-bleed" section.
Corzine tops out on everyone's list of slimebuckets that should have been jailed. How he can re-enter the political sphere is beyond rational thinking??? Public Relations firms can basically rebrand anything if they are paid enough.
The political sphere is where these chodes always swirl no matter the criminality, just look at that skank Hillary.
Beyond rational thinking is this jagoff is re entering the private business arena, and will manage other peoples money..
Like shit in a cesspool: Always some on top.
The banksters need to repay us.
Jon Corzine, Hillary Clinton, Barak Obama. Progressive superheros!
Does that mean progressives worship criminality?
Obviously yes, it does.
The progressive stupid, it burns.
Grimaldus
Is this a late april fools day?
What is with Corzine? He vanished for a Schimita<sp?> and thinks it's his turn at grifter bat again cuz he's a New Jersey New Yorker and a Clinton crony? wtf? This is very Clintonesk on the part of the democrats and their money pumps to generate funding for superpacs.
If I speak disparaging words about Hill n' Bill will I get added to the Clinton Kill List that everyone on the net talks about?
:|
"Mr. Corzine’s supporters point out that he hasn’t been criminally charged and that after MF Global collapsed"
Yes, maybe in a Zionist controlled court, but in my, and many others' court, he has been charged, tried, and found guilty.
Also, MF Global "collapsed" in the same manner that the Twin-Towers did.
He can flee, but he can't "return."
The banksters need to repay us.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear.”? Marcus Tullius Cicero
Excellent! As anyone that reads the History of Rome can see the pattern that has been laid out before us. We are following it to the T. I might also mention the ravages of Frenace from 1750 to 1789. The lessons of history are never read by the masses. If they were read the outcome of this whole charade would be totally different.
Excellent! As anyone that reads the History of Rome can see the pattern that has been laid out before us. We are following it to the T. I might also mention the ravages of Frenace from 1750 to 1789. The lessons of history are never read by the masses. If they were read the outcome of this whole charade would be totally different.
This sets it all up! Let us all get criminal! Rape, steal, pillage, cheat, lie, rampage, ruin the economy and get paid to do it again. And never go to jail...except of course, if you are poor and out of the loop. Then it is a long time jail sentence with execution for smoking a joint.
Why is this guy not dead already?
The kind of "in your face" that would make a porn star blush!
Your PAPER is Vapor.
You want it. You know you deserve it and you know it`s coming.
You love the anticipation and then POOF! All gone again!
Liability a vapor trail. Memory a conceit.
Laws are for goyim, Jews like Corzine can't fuck up enough.
He isn't even Jewish.
vapor?
other possible names:
smoke and mirrors
and...it's gone!
I'm not certain but pretty sure that the world is no longer safe.
Should say VAPORIZED CAPITAL . Or VAMPIRE CAPITAL , FUCK YOU CORZINE, YOU FUCKING CROOK!!!!
We "MF-ed some folks"
I strongly agree with kchrisc a nation can survive its fools, and even the ambitious. But it cannot survive treason from within. Let's see what happens next!
http://www.swiftairportparking.co.uk/meet-and-greet.php
I'm investing a 338 Lapua Magnum in Jon. I think he can handle a PM investment.
This is just a transparent effort to give Gerald Celente an aneurysm.
MF Global stole my money. F*****G ARSEHOLES
All out boycott the prime broker who takes on that piece of shit...
Lol, Gordon Gecko. From the ashes.
Corzine looks like the tramp who begs money under the Overpass Bridge in LaPorte IN. Except our tramp don't steal.
Corzine - " As you can see, it looks like I won't be charged with any wrongdoing. It was all based on incompetence, bad market timing and much like the US gold supply, inventory drift.
I can now announce the start of a new hedge fund venture based on the principals and investment strategy that I have pioneered over the years in various capacities......."
Eric Holder is going to join the Corzine's firm as a "government relations" officer as soon as the nice black lady is confirmed as AG. Make that "rejoin", as pimping for Corzine was the additional duty Holder held when he was AG.
Yeah... the former CEO of Goldman Sachs somehow got confused about the meaning of private client accounts when he went to MF Global.
And Gensler and Holder backstopped him all the way.
That photo of Hildabeast about to blow Jon needs to be in Repub ads for 2016.
I'm a CPA and I can say unequivocally that 'vaporized" is not an accounting term.
Fraud, on the other hand, is!
Maybe not yet. But, wait until Hillary gets elected President and I bet we're going to see a whole lot of new official and politically correct ways to explain things that have gone wrong.
If not for being one of the Obama campaign's largest bundlers of campaign donations, this man would have a cell beside Bernie Madoff. At the very least, he should be stricken from the securities industry for life. He swindled thousands of investors out of their life savings. If he is allowed to continue as if nothing happened, we owe Bernie Madoff a huge apology.
I have two words for this (and many recent others) article:
PROOF READER!!!!!!
If Hillary gets elected, it’s more likely Corzine will end up a Paid Consultant or Assistant to the new Treasury Secretary, Gary Gensler, previously know as the head of the CFTC. And no one watching the anouncements on the MSM will have any clue what that means except a group of Midwestern traders and investors who suffered the most for Corzine’s follys and didn’t vote for Hillary, so, WTF does she care about them. They will be labeled a bunch of conspiracy theorists who like to tell tall tales and that will be the end of that.
"Mr. Corzine’s supporters point out that he hasn’t been criminally charged and that after MF Global collapsed, his bets on the bonds of Portugal, Italy and other European nations were ultimately proven on target.Mr. Corzine’s supporters point out that he hasn’t been criminally charged and that after MF Global collapsed, his bets on the bonds of Portugal, Italy and other European nations were ultimately proven on target."
------You said that twice; you said that twice.
He's not in prison??? WTF?
There's an old book (1904) titled "The Cost of Something For Nothing." Recently the high cost of something for nothing included burying your son(s) instead of them burying the father. Corzine, Madoff, etc.
High, I m jon and I will vape your $$$.