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Corzine Corzined - Congressional Panel Finds Former MF Global CEO Ordered JPM Fund Transfer

Tyler Durden's picture





 

The only thing that could top today's epic market insanity and hilarity, would be that Corzine is himself about to be Corzined. Just released from Bloomberg:

  • MF GLOBAL'S CORZINE ORDERED FUNDS MOVED TO JPMORGAN, MEMO SAYS
  • CORZINE'S `DIRECT INSTRUCTIONS' CITED BY CONGRESSIONAL PANEL
  • MF GLOBAL TRANSFER WAS USED TO COVER OVERDRAFT, PANEL SAYS
  • MF GLOBAL FINDINGS CITED IN MEMO OBTAINED BY BLOOMBERG NEWS

And so we can now add perjury to felony embezzlement. Which means we now have to wait to find just which MF'er (and JPM'er) will be given a promise of untold millions if they only get Fab Tourre'd for a few years, and spend 5-7 in minimum security state prison instead of brave Jonny.

From Bloomberg:

Jon S. Corzine, MF Global Holding Ltd.’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co.
accounts in London, according to an e-mail sent by a firm executive.

 

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

 

O’Brien’s internal e-mail came as the New York-based broker found intraday credit lines limited by JPMorgan, the firm’s clearing bank as well as one of its custodian banks for segregated customer funds, according to the memo, which was prepared for a March 28 House Financial Services subcommittee hearing on the firm’s collapse. O’Brien is scheduled to testify after being subpoenaed this week.

 

“Over the course of that week, MF Global’s financial position deteriorated, but the firm represented to its regulators and self-regulatory organizations that its customers’segregated funds were safe,” said the memo, written by Financial Services Committee staff and sent to lawmakers.

 

Vinay Mahajan, global treasurer of MF Global Holdings, wrote an e-mail on Oct. 28 that said JPMorgan was “holding up vital business in the U.S. as a result” of the overdrawn account, which had to be “fully funded ASAP,” according to the memo.

 

O’Brien Letter

 

Barry Zubrow, JPMorgan’s chief risk officer, called Corzine to seek assurances that the funds belonged to MF Global and not customers. JPMorgan drafted a letter to be signed by O’Brien to ensure that MF Global was complying with rules requiring customers’ collateral to be segregated. The letter was never returned to JPMorgan, the memo said.

The money transferred came from a segregated customer account, according to congressional investigators. Segregated accounts can include customer money and excess company funds.

 

Corzine testified that he never intended a misuse of customer funds at MF Global, and that he doesn’t know where client funds went.

 

“I did not instruct anyone to lend customer funds to anyone,” Corzine told lawmakers in December.

Steven Goldberg, a spokesman for Corzine, declined immediate comment.

Oops. Of course, in Jonny's defense there was no perjury here. The truth was merely rehypothecated.

Full memo below. And for those who say it is not a smoking gun, read last paragraph on page 4 and first paragraph on page 5. It appears the administration has turned on "JC"

MF Memo

 


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Fri, 03/23/2012 - 16:15 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

PRISON, BITCHES!!!!!!!!!!!!!

Fri, 03/23/2012 - 16:20 | Link to Comment KMS
KMS's picture

Federal, Pound-You-In-the-Ass-Prison!?

I hope the prison guards put him with some 320# 6'8" CPU All-Star; go home, make a sandwich, and sleep good that night. Then come back the next day - with a mop.

Fri, 03/23/2012 - 16:24 | Link to Comment Troll Magnet
Troll Magnet's picture

they'll just "ken lay" him meaning he'll be pronounced dead but no one will be able to confirm.

Fri, 03/23/2012 - 16:54 | Link to Comment iDealMeat
Fri, 03/23/2012 - 17:04 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Dear Mr. Corzine,

We have just put in the mail a package to you, with contents of one jar of Vasoline.  The great thing about Vasoline for someone in your situation, as compared to a water-soluble lubricant, is that it takes a very long time to wear off.  You may need to ask your wife to smuggle it in for you.

Signed,

The People

Fri, 03/23/2012 - 17:07 | Link to Comment Silver Bug
Silver Bug's picture

Also Max Keiser was SPOT on, he called this months ago! Priceless.

 

http://jamesturkblog.blogspot.ca/

Fri, 03/23/2012 - 17:09 | Link to Comment NotApplicable
NotApplicable's picture

Meanwhile it only took the fedgov weinies FIVE MONTHS to figure it out.

Fri, 03/23/2012 - 17:14 | Link to Comment Hacked Economy
Hacked Economy's picture

Hey...where'd my 'Track' tab go?  How am I supposed to go back to my previous threads?

Fri, 03/23/2012 - 17:15 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Another JPM competitor bites the dust.

How many competitors to JPM have bitten the dust since 2008?

 

Fri, 03/23/2012 - 17:30 | Link to Comment nope-1004
nope-1004's picture

Congratulations to the Honorable Jon S. Corzine.

Even if he is a liar, thief, purjer, husband, father, and all around prick.

 

Fri, 03/23/2012 - 17:57 | Link to Comment Doña K
Doña K's picture

I bet he is gonna plea bargain and do some time near the end of the year, so that Obama will pardon him on his way out of office in January.

TIMING BITZES!

Fri, 03/23/2012 - 18:44 | Link to Comment fuu
fuu's picture

"JPMorgan drafted a letter to be signed by O’Brien to ensure that MF Global was complying with rules requiring customers’ collateral to be segregated."

 

Which one is the Vampire Squid again?

Fri, 03/23/2012 - 18:59 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

FREE JON CORZINE!!!!

 

Oh wait......he is.

 

Moved to France to hangout with his pal Roman Polanski. I think he plans on making the move permanent.

 

Fri, 03/23/2012 - 19:14 | Link to Comment flacon
flacon's picture

Guys, just think of his children. Think how devistating this news must be to them who only a few days ago released their statement praising their father and his impecable conduct and dedication to his family and all of humanity. 

 

Please let us spend a moment of solemn silence thinking of the children. Those poor, poor children. 

 

....

 

Thank you.

 

FUCK JON CORZINE'S 'CHILDREN'! SCUM FAMILY!

Fri, 03/23/2012 - 19:20 | Link to Comment ChrisFromMorningside
ChrisFromMorningside's picture

If they are like other "children of the uber-wealthy" that I have met ... They probably barely know their father, let alone give a fuck what happens to him. They just need to make sure they get that trust fund.

Fri, 03/23/2012 - 19:30 | Link to Comment Troll Magnet
Troll Magnet's picture

boy, somebody's on a junking spree.  corzine jr. trolling ZH?

Fri, 03/23/2012 - 22:04 | Link to Comment AldousHuxley
AldousHuxley's picture

Establishment kicking out non-elite background players on wall st.

 

They are all guilty, but only the chosen ones are exempt from prosecution:

  • Ivy League undergraduate
  • Harvard of Columbia MBA or JD
  • Goldman Sachs's IB preferred

OK'ed by establishment:

Hank Paulson: Dartmouth + Harvard MBA

Goldman Sach's Lloyd Blankfein: Harvard + Harvard Law

Obama: Columbia + Harvard Law

Citibank's Vikram Pandit: Columbia + Columbia MBA/PhD

JP Morgan's Jamie Dimon: Tufts + Harvard MBA

Lazard's Bruce Wasserstein: U Michigan + Harvard JD + Harvard MBA (unfortunately he ended up dying young due to work)

 

NOT approved by the establishment:

MF Global's Jon Corzine: Illinois State U undergrad + U of Chicago MBA

Lehman's Dick Fuld, Jr.: Colorado State U undergrad + NYU MBA

Bank of America's Ken Lewis: Georgia State University

 

 

Fri, 03/23/2012 - 22:36 | Link to Comment smiler03
smiler03's picture

I've only read "Corzine Corzined" and it's made my year, I hope it's true. Now back to reading the article.

Sat, 03/24/2012 - 00:42 | Link to Comment Michael
Michael's picture

If Corzine is not arrested soon, someone should make a citizens arrest or form a citizens grand jury to indict that criminal, if the government refuses to do its job.

Citizens Grand Jury Validity and Legal Authority

http://www.youtube.com/watch?v=O6Hb0pW1eoE

Sat, 03/24/2012 - 01:47 | Link to Comment Oh regional Indian
Oh regional Indian's picture

The God's of WAR will save the Dog's of Money. But the game is now in the sencond half of innings 7 I think. Sure feels like it.

ori

/un-holy-smoke-and-biblical-fire-from-the-sky/

Sat, 03/24/2012 - 02:22 | Link to Comment Michael
Michael's picture

On Trayvon Martin;

Now all the black leaders are playing the black victimization race card to get more government tax payer money and benefits for their? black group, and to take away my gun rights.

That's the bottom line.

The Protocols of the Elders of Zion are currently in effect, as they have been for many decades.

The Jews perfected the victimization race card and the blacks are just following the same plan. Just search "Defamation True Stories", by the Israeli documentary film maker Yoav Shamir, and see the documentary on how the Jews perfected the victimization race card strategy.

Or follow this link to the first posting of this film where I hijacked the top of the comment section on the first page. You can read my comments from a couple of years ago, first one is #19 on the front page where I posted under the same name I'm currently using.

Note: Don't worry about the warning on the page, the Jews are just trying to discurge people from viewing the video there.

http://wideeyecinema.com/?p=7208

Sat, 03/24/2012 - 03:33 | Link to Comment Michael
Michael's picture

Thank God the shooter was Hispanic and not a Florida White Cracker.

Sat, 03/24/2012 - 09:45 | Link to Comment RafterManFMJ
RafterManFMJ's picture

 

 

No, unfortunately he is a white hispanic; says so right here in this YAHOO news article.

http://news.yahoo.com/blogs/lookout/police-chief-trayvon-martin-case-step-down-194855481.html

Zimmerman, a white Hispanic, was patrolling the streets of a gated community in Sanford on Feb. 26, when he spotted Martin and told a police dispatcher that a "black male" was acting "suspicious." Zimmerman, 28, ignored a warning from the dispatcher not to pursue Martin, and a violent confrontation ensued, leaving Martin dead.


Sat, 03/24/2012 - 09:56 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

You seemed to be lost.

 

This article is about Jon Corzine.

 

Sat, 03/24/2012 - 03:57 | Link to Comment Michael
Michael's picture

If you watch this video you will see a Jewish woman working for the ADL saying to her supervisor, there was someone complaining about people making anti-semetic remarks on a website.

Sat, 03/24/2012 - 04:41 | Link to Comment Michael
Michael's picture

Well, the IPad 3 didn't kill the Physical Library this time around, I wonder how many more tries it will take?

Sat, 03/24/2012 - 06:05 | Link to Comment rcintc
rcintc's picture

We all know what's going to happen. January 19, 2013 - OBAMA!'s last day in office (hopefully and the day before Ron Paul's fist) - he will get a presidential pardon at 11:59am.

He will be in jail for all of 3 days maybe.

Sat, 03/24/2012 - 14:08 | Link to Comment AldousHuxley
AldousHuxley's picture

The REAL question is....

 

Who

Was

Corzine

Working

For?

Fri, 03/23/2012 - 22:47 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

No Skull and Bones at Georgia State, eh?

Fri, 03/23/2012 - 22:54 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Expect 'insider trading' arrests on Monday of other minor 'outsider' figures for 'crimes netting them 'millions' or 'tens of millions'.   Once hundreds of millions are involved, you're scot-free.  Ask Mozilla.

Fri, 03/23/2012 - 23:11 | Link to Comment smiler03
smiler03's picture

This O'Brien bitch has to go down too. The bitch refused to give evidence without immunity. I presume that having been subpoenaed that the bitch will have no immunity?

Fri, 03/23/2012 - 19:30 | Link to Comment flacon
flacon's picture

"Daddy, tell us a bed time story."

 

"CORZINE: Once upon a time, there was a half bald headed man who was CEO of a vampire squid. He had no talent other than deceiving people and stealing the money from the villagers. This man gave birth to some children. Those children are you. That's right, you are the spawn of a vampire squid."

 

 

Fri, 03/23/2012 - 19:39 | Link to Comment r00t61
r00t61's picture

CHILDREN: "That explains these blood-sucking tentacles, then."

Fri, 03/23/2012 - 19:52 | Link to Comment flacon
flacon's picture

CORZINE: "I was a

Wankin'. Fuckin'. Banker." 

http://www.youtube.com/watch?v=IPNyU0a2ko8

 

Fri, 03/23/2012 - 21:50 | Link to Comment FEDbuster
FEDbuster's picture

Bernie Madoff's new cellmate?

Sat, 03/24/2012 - 04:53 | Link to Comment Element
Element's picture

Maybe that can start up a drama club, perform Fiddler on the Roof, do a tour of the promised land, and mysteriously vaporise in the middle of Act 3, and never be seen again?

Fri, 03/23/2012 - 20:04 | Link to Comment The Watchman
The Watchman's picture

What's the best way to cook a squid? Vaporize it!

Fri, 03/23/2012 - 20:27 | Link to Comment Oracle of Kypseli
Oracle of Kypseli's picture

When I read that banks will pay 90 cents on a dollar for claims, I knew something was brewing. I hope that most did not sign as now they will be free to sue for lost revenue in civil court. Corzine is toast. He will be in litigation forever. No more castles in France.

Sat, 03/24/2012 - 00:11 | Link to Comment Chuck Walla
Chuck Walla's picture

Moved to France to hangout with his pal Roman Polanski. I think he plans on making the move permanent.

 

Why not? Same crime, different victim...

Fri, 03/23/2012 - 19:03 | Link to Comment DormRoom
DormRoom's picture

jesus crhist:  Oh look.  another JC doing God's work.

Fri, 03/23/2012 - 19:58 | Link to Comment flacon
flacon's picture

In the name of God the Father (JP Morgan), the Son ('JC' Goldman Sachs), and the Holy Spirit (HSBC/Bank of America).

Sat, 03/24/2012 - 02:09 | Link to Comment Deo vindice
Deo vindice's picture

"Thou shalt not steal" ain't the only commandment you know.

Just saying...

Fri, 03/23/2012 - 18:13 | Link to Comment blindman
blindman's picture

remember the titanic!

Fri, 03/23/2012 - 18:29 | Link to Comment Dugald
Dugald's picture

You really think it will happen? Who else in the company has initials JC and who is willing to be regulularly sodomised for a shit load of moola?

Ever noticed how easily slime slips off the hook?

Fri, 03/23/2012 - 19:17 | Link to Comment JPM Hater001
JPM Hater001's picture

"Another JPM competitor bites the dust."

They all eventually fall at the feet of my nemesis.

Fri, 03/23/2012 - 19:49 | Link to Comment HoofHearted
HoofHearted's picture

Can we possibly take down Corzine, JP Morgan, and Obama all in one fell swoop? No way my life gets that good!!! No way.

Fri, 03/23/2012 - 20:58 | Link to Comment LeBalance
LeBalance's picture

"We?"

Sat, 03/24/2012 - 02:12 | Link to Comment Deo vindice
Deo vindice's picture

  Can we possibly take down Corzine, JP Morgan, and Obama all in one fell swoop? No way my life gets that good!!! No way.

Their places would simply be filled with others waiting in the wings.

Fri, 03/23/2012 - 20:17 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Exactly...

 

Why has Bloomberg published a 3rd hand assertion without documentation and attributed it to someone(Edith O'Brien)who by all accounts will plead the 5th. When you read the Bloomberg article note that it references an e-mail written by O'Brien and a memo written by congressional staffers.

from BMG;

Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in a brokerage account with JPMorgan Chase & Co. (JPM), according to a memo written by congressional investigators.

Edith O’Brien, a treasurer for the firm, said in an e-mail quoted in the memo that the transfer was “Per JC’s direct instructions,” according to a copy of the memo obtained by Bloomberg News. The e-mail, dated Oct. 28, was sent three days before the company collapsed, the memo says. The memo does not indicate whether that phrase was the full text of the e-mail or an excerpt.

Now compare the Bloomberg innuendo to the unequivocal Corzine quote.

“I never gave any instruction to misuse customer funds, I never intended anyone at MF Global to misuse customer funds and I don’t believe that anything I said could reasonably have been interpreted as an instruction to misuse customer funds,” Corzine told lawmakers in December.

It's very simple...MSM and Congress will give JPM and other properly connected thieves all the room they need to negotiate the best possible outcome for JPM etc. etc...

 

 

 

 

Sat, 03/24/2012 - 09:49 | Link to Comment disabledvet
disabledvet's picture

this is actually a topical point. the question should be "where is the anti-terror financing report on the matter." one cannot simply transfer 200 million dollars from a soon to be defunct financial institution in the USA to an American branch of a bank in Britain and "no one has a clue." How can these massive fund transfers still go on and no one in the oversight branch of Government have even a passing interest in "how do"? where's the Federal Reserve here? The only thing these folks "fighting the war on terror" appear to be doing is destroying the American people's simple "freedom from being groped at the airport" while the "money for nukes" cabbage flows around like it was never meant to be contained or tracked or traced in the first place. brazen corruption by people who have no interest in being anything but.

Fri, 03/23/2012 - 17:23 | Link to Comment Things that go bump
Things that go bump's picture

The track tab disappeared on Wednesday.  Below that is a link that says "Follow this user's comments." I haven't tried it to see if it performs the same function.

Fri, 03/23/2012 - 17:42 | Link to Comment MsCreant
MsCreant's picture

Track your own comments to test run, does great.

Fri, 03/23/2012 - 18:03 | Link to Comment Things that go bump
Things that go bump's picture

I see that - thanks.

Fri, 03/23/2012 - 18:21 | Link to Comment disabledvet
disabledvet's picture

the fact that it took this long is not a sign of incompetence on the part of the governnment interestingly...

Fri, 03/23/2012 - 18:47 | Link to Comment Christophe2
Christophe2's picture

No kidding.  How long does it take to parse through the emails of the company, especially those surrounding the critical few days preceding the bankruptcy?

 

The fact that this is a chap. 11 bankruptcy (a reorganization) rather than a chap.7 (liquidation), with all the ensuing benefits for the MFG criminal executives, who get to stay on and not only cover their tracks but also potentially get massive bonuses is a brutal slap in the face of all the muppets trying to make an honest living in Amerikkka.  We don't see Bloomberg interviewing Bill Black and talking about that, huh?

 

Above all, I'm amazed that any evidence remains, or is being exposed by the rats conducting the non-investigation...

Fri, 03/23/2012 - 20:02 | Link to Comment DeadFred
DeadFred's picture

The evidence has been there all along. It was being held in reserve for the right time. It's impossible no one knew about this months ago so the critical question to ask is "Why are they revealing this now?" It might be the start of the DUMP half of the latest pumpNdump cycle. There could be some other motivation but there is absolutely no way this Email was just discovered (un-vaporized?). Why now?

Fri, 03/23/2012 - 21:52 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

DeadFred said:

There could be some other motivation but there is absolutely no way this Email was just discovered (un-vaporized?). Why now?

In a well written play, events like this don't just happen. This could have been revealed in an earlier act, but it wasn't. Given what has transpired over the last decade in the world of unpunished financial crime, the script has certainly taken an unexpected twist.

Why now, sir, indeed. Touché.

 

Sat, 03/24/2012 - 05:06 | Link to Comment Bringin It
Bringin It's picture

DeadFred, Stoogie - Why now? 

To placate the growing and grumbling mob.  Bread and circus.  Threaten to throw a gladiator to the lions for a change.  But only threaten.  For now.

New outrages must surely be in store and this event will show/signify "balance". 

http://www.zerohedge.com/contributed/2012-12-23/federal-reserve-bank-dal...

When we see the PERP_WALK it's real.

Where is the perp-walk?

Sat, 03/24/2012 - 09:02 | Link to Comment Everybodys All ...
Everybodys All American's picture

It's simple ... MFGlobal is Obama's Watergate and there is a coverup going on.

Fri, 03/23/2012 - 18:57 | Link to Comment ChrisFromMorningside
ChrisFromMorningside's picture

It took them five months to figure it out? Or it took five months before they could no longer suppress the truth and it became glaringly obvious?

Sat, 03/24/2012 - 09:53 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Hey, has anyone heard any rumors about Silver/Gold manipulation? I think I heard something about this 3-5 years ago...I vaguely recall there is an ongoing investigation...how's that USS Maine investigation going? 

Fri, 03/23/2012 - 21:09 | Link to Comment Christoph830
Christoph830's picture

Obama's ratings went down in that five-month span. Romney has become a clear favorite in a head-to-head matchup so theyve decided to release the hounds on Corzine now. I'm so tired of this shit

Sat, 03/24/2012 - 09:58 | Link to Comment disabledvet
disabledvet's picture

i agree. everyone is corrupt. the media has the goods on all the politico's. you're better off watching porno. it's more interesting and informative at this point.

Sun, 03/25/2012 - 00:05 | Link to Comment Xkwisetly Paneful
Xkwisetly Paneful's picture

There is a lot of incredibly stupid stuff posted on this site.

However since direct betting exists on the election and millions of dollars in offers are currently available it isn't that tough to actually look at financially staked odds instead of social science bullshit,

and since that is as easy as punching something into a keyboard,

it is pretty stupid to post one guy is ahead when the other guy is just under a 2/1 favorite win.

I am so tired of this shit.

Fri, 03/23/2012 - 18:50 | Link to Comment Zero Govt
Zero Govt's picture

Oooh Christmas comes early

put him in jail and we'd have 2 XMas' come along in one

Fri, 03/23/2012 - 17:09 | Link to Comment MsCreant
MsCreant's picture

The people have better things to do with their petroleum than giving it to John for his ass.

Fri, 03/23/2012 - 17:15 | Link to Comment Rich V
Rich V's picture

I'll donate a pound of salt that he can pack up his ass

Fri, 03/23/2012 - 17:27 | Link to Comment WillyGroper
WillyGroper's picture

OK, OK, I'll donate the lemon juice.

Fri, 03/23/2012 - 18:00 | Link to Comment Doña K
Doña K's picture

Maybe his kids ratted him out. Too much guilt and pay now is always easier tha pay later.

Sat, 03/24/2012 - 00:59 | Link to Comment old naughty
old naughty's picture

Maybe!

But maybe the Matrix is falling apart...

We shall see.

Fri, 03/23/2012 - 18:51 | Link to Comment Village Idiot
Village Idiot's picture

use a 6" pipe threader and some chineaze hot mustard...

Fri, 03/23/2012 - 21:56 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

...with an LSD, PCP, and Jalapeño enema.

 

Sat, 03/24/2012 - 00:49 | Link to Comment PC Load Letter
PC Load Letter's picture

He deserves baking soda

Sat, 03/24/2012 - 16:19 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Jim McGreevey (another proud NJ politician FYI) can help him with packing his fudge.

Fri, 03/23/2012 - 22:24 | Link to Comment paddy0761
paddy0761's picture

I'll donate a length of PVC pipe and some barbed-wire.

Fri, 03/23/2012 - 21:39 | Link to Comment eatthebanksters
eatthebanksters's picture

MsCreant, how about picturing him smoking a jailhouse cigar (or 3)!

Fri, 03/23/2012 - 17:05 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Quick, queue the Vanity Fair article, get the NY Times to find pictures of Jonny posing with little black children in Harlem next to a hospital, somebody do something, please!!!!

Hehe

Sat, 03/24/2012 - 08:55 | Link to Comment Everybodys All ...
Everybodys All American's picture

Cramer just the other day said on CNBC that he didn't think Corzine did anything wrong. Obviously before this news but it goes to show you the coverup and deceit is on going.

Fri, 03/23/2012 - 17:00 | Link to Comment Silver Bug
Silver Bug's picture

The sad thing is, he more than likely STILL won't go to prison!

 

http://davidmorganblog.blogspot.ca/

Fri, 03/23/2012 - 17:10 | Link to Comment Colombian Gringo
Colombian Gringo's picture

Agreed. The lying sack of shit called Corzine will walk. Instead,  1,000,000  more americans will be thrown into jail for marijuana offences to show that Obama is tough on crime.

Fri, 03/23/2012 - 19:28 | Link to Comment Umh
Umh's picture

Unless they're illegal immigrants.

Fri, 03/23/2012 - 17:46 | Link to Comment raeb
raeb's picture

Or, an immediate pardon from Obama.

Fri, 03/23/2012 - 19:32 | Link to Comment Kali
Kali's picture

Yup, the Mike Milken strategy.  Probably the ONLY reason he was found Guilty. Assholes, all of em.  This goes beyond regulatory capture, we're onto total government captcha now bitchez!

http://articles.latimes.com/2009/feb/03/business/fi-milken3

 

 Milken got sentenced to ten years in prison, only served <2yrs.  Never stopped trying to get a presidential pardon, both Clinton and Shrub turned him down.  However, a fact i had forgotten in the mists of time, he was a precedent setting case for prosecuting financial crimes with RICO (by,are u ready for it RUDY GIULANI!).  You listening ERIC!!!

 

Fri, 03/23/2012 - 22:30 | Link to Comment CompassionateFascist
CompassionateFascist's picture

Milken never served a day in "prison". Went to a WC crime prison farm, spent 2 years growing tomatoes, playing tennis, reading the New Yorker. If, in the unlikely circumstance Obama's #2 bagman - Corzine - ever does get convicted of anything, that'll be his "punishment".

Sat, 03/24/2012 - 01:50 | Link to Comment Lord Blankcheck
Lord Blankcheck's picture

Milken was railroaded by the New York banksters so they could steal the junk bond market he created.That's where Mayor Giulani made his name.

Sat, 03/24/2012 - 05:28 | Link to Comment Bringin It
Bringin It's picture

.

Sat, 03/24/2012 - 09:59 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Milken was railroaded by the New York banksters so they could steal the junk bond market he created.That's where Mayor Giulani made his name.

You have to wonder how these guys are psychopaths, yet such cunts; they burn and steal, then get betrayed/railroaded...and take it.  No countermoves, no mob wars. See, that's why I prefer the old-fashioned, get-your-hands-dirty mobsters. Not only do they not steal as much from you, they have the honor and balls to take out anyone who attacks them or die trying.

It's sad the .gov mobsters of today are so pansy like; I fear for our future as a nation.

Fri, 03/23/2012 - 18:33 | Link to Comment FeralSerf
FeralSerf's picture

Or maybe a Bush style Scooter Libby deal.

Fri, 03/23/2012 - 21:59 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

I don't know why Libby went with such a dorky nickname as Scooter. It's not like it's any better than Irving Lewis Libby.

 

Fri, 03/23/2012 - 18:09 | Link to Comment eatthebanksters
eatthebanksters's picture

He'll be Madoff's cellmate...

Sat, 03/24/2012 - 09:04 | Link to Comment Everybodys All ...
Everybodys All American's picture

MFGlobal is Obama's Watergate and there is a coverup going on.

Fri, 03/23/2012 - 17:50 | Link to Comment Oleander
Oleander's picture

Can't we hold him in the dungeon of that castle of his in Scottland? The cold damp air does wonders for ones health.

Fri, 03/23/2012 - 19:43 | Link to Comment FeralSerf
FeralSerf's picture

Jon Corzine, who had only $3 million of his own money in MF Global, was said to be buying a French château with his wife two weeks before the firm’s bankruptcy.

http://www.vanityfair.com/business/2012/02/jon-corzine-201202

Fri, 03/23/2012 - 16:27 | Link to Comment lotsoffun
lotsoffun's picture

where's eddie curry these days?

he has some predilictions

 

Fri, 03/23/2012 - 16:49 | Link to Comment Doubleguns
Doubleguns's picture

Seems he might be getting ready for prison. He seems to be checking out Barrys tits in that photo.

Fri, 03/23/2012 - 17:54 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Based upon these findings, I would say he is a shoe in for the next Chairman of the Federal Reserve!

Fri, 03/23/2012 - 21:41 | Link to Comment eatthebanksters
eatthebanksters's picture

Perhaps Timmy's replacement...

Fri, 03/23/2012 - 21:08 | Link to Comment non_anon
non_anon's picture

odds are Jan. 20,2013 Presidential Pardon

Fri, 03/23/2012 - 16:20 | Link to Comment BliptoP3
BliptoP3's picture

Nah, the Department of Justice has better things to do.

Fri, 03/23/2012 - 16:28 | Link to Comment SteveGennisonBa...
SteveGennisonBallWasher's picture

Where's his family's public letter now?  Let's revisit that again.

Fri, 03/23/2012 - 16:50 | Link to Comment WillyGroper
WillyGroper's picture

Perhaps they're checking the contents of their jewelry boxes & bank accounts.

Fri, 03/23/2012 - 17:10 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

I thought this piece included evidence...Corzine sent authorization to transfer Company funds and a couple of morons transferred customer funds???

 

 

WTF???

Fri, 03/23/2012 - 17:19 | Link to Comment Global Hunter
Global Hunter's picture

Jon S. Corzine, MF Global Holding Ltd.’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co.
accounts in London, according to an e-mail sent by a firm executive.

 

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

Fri, 03/23/2012 - 17:51 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Was Bloomers holding Jamie's hand when he authorized this "story"?

“direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. accounts in London, according to an e-mail sent by a firm executive.

notice only "direct instructions" in quote.

Let's see the "direct instruction" and not a now 3rd party description.

 

 

 

 

Sat, 03/24/2012 - 08:24 | Link to Comment It was not me
It was not me's picture

So if JP Morgan gets signed document that it is ok to transfer the funds from client account to corporate account then it is fine with them and it is legal??? What the fuck! Even a guy selling hotdogs in front of JP Morgan office building in Manhattan knows that it's illegal. Custodian bank has responsibilities that cannot be overridden even by Mr Change himself.

Fri, 03/23/2012 - 17:51 | Link to Comment Theta_Burn
Theta_Burn's picture

Helluva good start, but lets not start buying rounds just yet.

Prepair for lawyers/deals/hes cooperating BS. (can't wait to see how much honor there is umongst thieves) 

Unless of course theres a coronary, or a bolt of lightning.

Friends of Corzine=shitting 32oz gold bricks.

Can we drop the Honorable now??

 

 

 

Fri, 03/23/2012 - 19:50 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Can we drop the Honorable now??

 

Consider it done.

 

I'm still trying to find out who that lone -1 quy is starting at the top of the comments........Jon.......is that you?

 

Fri, 03/23/2012 - 22:06 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Advice for the Dishonorable Jon Corzine:

If you don't start singing,

your butthole starts stinging.

Burma Shave®

 

Fri, 03/23/2012 - 16:47 | Link to Comment flacon
flacon's picture

Department of Justice is under which wing of government: Executive, Judicial or Legislative? 

If you answered EXECUTIVE you are correct!

Fri, 03/23/2012 - 19:15 | Link to Comment TwelfthVulture
TwelfthVulture's picture

They are ALL under the FINANCIAL branch of the government.  You're new here, aren't you?

Sat, 03/24/2012 - 09:06 | Link to Comment bdc63
bdc63's picture

Has anyone noticed that there is a near media blackout on this?  I've had CNN on the background for about 2 hours this morning and NOT ONE SINGLE MENTION OF IT.

Sat, 03/24/2012 - 09:06 | Link to Comment Everybodys All ...
Everybodys All American's picture

Coverup.

Fri, 03/23/2012 - 16:26 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

the "corzine rule" hahahahahahahahah

http://online.wsj.com/article/SB1000142405270230472440457729387105146082...

CEO's must sign off on large transfers of customer funds....LOL

hahahahahahahahah

 

Banana republic!!!!!!!!!!!!!!!!!!!!!!

Fri, 03/23/2012 - 16:55 | Link to Comment Stax Edwards
Stax Edwards's picture

I hope the name sticks.  A fitting legacy for that crook.

Fri, 03/23/2012 - 16:25 | Link to Comment ZeroPower
ZeroPower's picture

Doubtful. He's not nigerian or anything like that.

Fri, 03/23/2012 - 16:46 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

So the email said the funds were transferred per "JC's direct request".  It wasn't J. Corzine that ordered the transfer, it was Jesus Christ.......doing god's work. 

Fri, 03/23/2012 - 17:16 | Link to Comment NotApplicable
NotApplicable's picture

LOL

More likely they'll find some Indian guy in a back room with those initials and blame it on him.

Fri, 03/23/2012 - 17:24 | Link to Comment nope-1004
nope-1004's picture

Jorge Costanza?

 

Fri, 03/23/2012 - 23:27 | Link to Comment smiler03
smiler03's picture

Ponzi Madoff Corzine

The name should stick, justice permitting.

Fri, 03/23/2012 - 18:08 | Link to Comment Decolat
Decolat's picture

JC thinks he's JC...

Fri, 03/23/2012 - 16:35 | Link to Comment PrintingPress
PrintingPress's picture

http://i.imgur.com/aDVyS.jpg - Jon has friends in high places.  Prison is for scumbags. 

Fri, 03/23/2012 - 16:36 | Link to Comment Stuart
Stuart's picture

no, not prison.  stand him up against a wall. start with the ankles, slowly aiming higher after each shot.    

Fri, 03/23/2012 - 16:59 | Link to Comment Piranhanoia
Piranhanoia's picture

He has to squeal.  He has to tell tales and name names.   If he is found to have committed some crime as a public servant that still carries the death penalty,  fine.   

Since he has to squeal,  his friends will use crazy glue if they can get to him first.

Fri, 03/23/2012 - 18:38 | Link to Comment FeralSerf
FeralSerf's picture

Cheney says waterboarding is not torture.

Fri, 03/23/2012 - 23:28 | Link to Comment SillySalesmanQu...
SillySalesmanQuestion's picture

If he does squeal...please, oh lord please , let him bleat "It was the Devil Lord, it was Jamie and Blythe that made me do it...I swear!

Fri, 03/23/2012 - 22:13 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Just chain him to a stake and send an invitation to all of the MF Global customers that he robbed.

 

Fri, 03/23/2012 - 16:39 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

I keep telling ya'll...ain't shit gonna change until one of these mother fucking bankers is shot and got....there ain't no law...just the bankers...
FUCK ALL BANKERS AND THEIR BITCH OWNED POLITICIANS...
LYNCH MOB GET IN EFFECT BITCHEZ....

Fri, 03/23/2012 - 16:50 | Link to Comment SheepDog-One
SheepDog-One's picture

Until theyre showing bankers dangling from lamp posts, the 'in-your-face' criminality festival goes on and on and on.

Fri, 03/23/2012 - 22:14 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Occupy Wall Street lamp posts...with bankers.

 

Fri, 03/23/2012 - 22:43 | Link to Comment Papasmurf
Papasmurf's picture

Just one?  One does not set  a trend.

Fri, 03/23/2012 - 16:41 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

The honorable J. Corzine coming to a FEMA camp near you. 

Fri, 03/23/2012 - 21:22 | Link to Comment UP Forester
UP Forester's picture

Too bad he'll be visiting you and yours as Big Sis's replacement....

Fri, 03/23/2012 - 23:31 | Link to Comment smiler03
smiler03's picture

That word "honorable" makes me wanna puke. Like our British bastard "sir" Fred Goodwin, makes me wanna puke.

Fri, 03/23/2012 - 16:51 | Link to Comment sessinpo
sessinpo's picture

Another sacraficial lamb to the political wallstreet god of corruption. Let the games continue.

Fri, 03/23/2012 - 17:41 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

 

God, PLEASE tell me Dimon himself approved the transfer, and Bernanke, Geithner and Obama were all on the Cc line of the email!!!

Fri, 03/23/2012 - 19:52 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

That's almost sultry porn you penned there.

 

Fri, 03/23/2012 - 17:50 | Link to Comment A Nanny Moose
A Nanny Moose's picture

F that. Pair of pliers and a blowtorch.

Fri, 03/23/2012 - 18:30 | Link to Comment OneLessZombie
OneLessZombie's picture

Does anyone here believe that outright fraud and lying before a congressional committee by the well connected receives serious jail time?  LOL

Fri, 03/23/2012 - 22:01 | Link to Comment optimator
optimator's picture

He didn't perjure himself, he simply "misspoke".

Sat, 03/24/2012 - 05:29 | Link to Comment Element
Element's picture

Ben did not monetise the debt, he just mis-printed a few trillion FRNs.

Obama did not make war, he's just mis-bombed a few countries (... wot? ... it can happen!)

Timmah isn't a tax cheat, he just mis-accounted all of his GS income stream.

Sat, 03/24/2012 - 08:05 | Link to Comment Gold Dog
Gold Dog's picture

"It depends on what your definition of "is" is."

Fri, 03/23/2012 - 19:00 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Say hi to Bernie for me while you're in there Mr. C. Ok? Oh, what, you were a senator, governor, AND ran Goldman?? AND YOU WERE A BUNDLER FOR OBAMA CAMPAIGN?!?!?!

Oh ok, never mind then............

Fri, 03/23/2012 - 19:04 | Link to Comment Ripped Chunk
Ripped Chunk's picture

He will skate.

Fri, 03/23/2012 - 19:36 | Link to Comment solgundy
solgundy's picture

BS to prison....Congress refers charges to Eric Holder...Duh!...you want to see Corzine do the "perp walk"?....start stuffing the ballot boxes to get rid of the Criminal-In-Chief

Fri, 03/23/2012 - 19:42 | Link to Comment unclened
unclened's picture

what makes this even funnier is that London seems to be the jurisdiction where US firms can easily f*ck their customers in the ass. Lehman did it and MF Global did it in style! The greatest bit of this story is that MF Global used client cash to cover a margin call and JPM get to keep it!! TCF my ass!!! 

Fri, 03/23/2012 - 20:05 | Link to Comment Buck Johnson
Buck Johnson's picture

The released this information and John Corzine is screwed.  He moved it knowing that he shouldn't do it and he said he never authorized movement or co-mingling of accounts.

Fri, 03/23/2012 - 22:13 | Link to Comment ACP
ACP's picture

You Jon Corzine, are hereby sentenced to a Federal "pound me in the ass prison" for a period of not less than 5 years.

AND, you are a VERY BAD MAN!

Fri, 03/23/2012 - 23:26 | Link to Comment CheapBastard
CheapBastard's picture

 I'll believe prison time when I see it.

Sat, 03/24/2012 - 03:17 | Link to Comment It was not me
It was not me's picture

Well, this explains it all: http://www.youtube.com/watch?v=frwBQTCzL2k

Do NOT follow this link or you will be banned from the site!