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Corzine Corzined - Congressional Panel Finds Former MF Global CEO Ordered JPM Fund Transfer
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"
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C'mon man...who's going to admit to being from Jersey...much less to casting a vote for a goobernatorial candidate who sounded like a psychiatric prescription?
All NJ politicians must be corrupt. It's a tradition. Kind of like Chicago.
Unions man. NJ is corrupt as h_ll.
Here, exit 9. And just for the record, nobody I know voted for Corzine.
Don't ya know all the dead voters voted for Corzine!! come on, you know better, a democrat can't win an election without, illegals, the dead and multiple voters voting for them. how do you think Obama won the presidency, it was Acorn and voter fraud.
"The Honorable" Jon Corzine simply does not know what happened to the money though (Ohhhh THAT little bit of money...sorry my bad).
LMFAO what a crook.
What's this difference between a Somali pirate and Jon Corzine?
The Somali pirate is polite enough to tell you beforehand he is stealing from you
Now where's a bounty website with prices for Corzine, Blankfein, Geithner etc
Hardworking Americans want to see how high they have to bid before hitmen show up
Crime lord obummer, hero of the average ZH commenter, will not act
C***zine for tres sec in 2013 boyz
Critics of Corzine: Racists and anti-semites. Our President is standing up to all of you!
You are correct! No one who raised as much money for a President as Corzine did, will ever be convicted of anything. No matter how guilty he is.
He just stole the money from muppets, that shouldn't even be a crime for someone as close to the President as Corzine was.
The more corrupt the state, the more laws. - by Tacitus
Remove the fucking lawyers and let the games begin.
They'll pick some small time Jew to take the fall.
It's a fallacy to think that Jews never turn on their own. They do, when the going gets tough enough. Their greed and instinct for money trumps all.
Ah mus' announze dat bother corzine haz joined de nation of izlame.
Az yo mofo prezident, ah amma pardon him from mispacin' de money.
muh dick, mofos.
Obviously, his actions of stealing from Americans, made America safer for Democracy and is helping preserve our Freedom. Not only is a pardon in order, I think the The Medal of Freedom may be called forth to show the debt that America owes Jon Corzine.
As if we expected anything less from these crooks. Fuck 'em all. Preferably with a big black dick.
Why is it taking so long to arrest this guy?
You know if it were any mere citizen we'd be arrested in no time!
Time to merge JP Morgan into the US Treasury without compensation and then demerge units back into a new financial marketplace with automatic custodial sentences for collusion and market manipulation
One voice
http://www.youtube.com/watch?feature=player_embedded&v=MA-eWdHdiRA
If Obama had a brother, he would look like Jon Corzine.
Why get excited? He has access to 7 figure lawyers that get paid to keep scum from doing the perp walk.
Well at least there is a chance now that Congress will elect to pay back MF Global customers by loading up the US citizens with more debt.
So the pattern is that these crooks get away again and the US citizens get more debt, taxes and austerity for less and less services.
Imagine if someone broke into your house, stole your stuff, was caught red handed, and you paid your own restitution via a second mortgage on your house. Oh and the best part, the thief was set free to do it all over again. After all the restitution has been made so all is well, right?
Yah good job Congress, Supreme Court and Obama, what a den of thieves and vipers all. I think capital punishment should be mandatory for even ‘white’ collar crimes over a certain amount.
If you steal a billion dollars and you can’t pay it back with your ‘own’ money you die, seems simple and fair enough. In many ways it’s just an extension of the capital punishment provision for those that debase the currency in the US Constitution. Because the only way to perform restitution for the victims in 99% of these cases is to either print more money (ie debase) or expand the number of victims via higher taxes and/or less services.
Corzine is a worse than a money-addicted sociopath. He is a Talmudic Communistic Jew doing the will of a much larger conspiracy. Gentiles! Wake from your slumber; for while you have been sleeping the enemy within has been planning and executing your enslavement. It is later in the day than you think:
Baruch Levy sent this letter to Karl Marx, which was discovered in the year 1888 and published for the first time in the same year. The text is as follows:
“The Jewish people as a whole is its own Messiah. Its kingdom over the universe is obtained through the uniting of the other human races, through the suppression of frontiers and of monarchies, which are bulwarks for particularism and hinder the erection of a world republic where citizenship is everywhere recognised to the Jew. In this new organisation of mankind, the sons of Israel, who at present are scattered over the entire earth surface, will all be of the same race and of the same traditional culture, without, however, forming another nationality, and will be without contradiction the leading element in all parts, particularly if it is successful in laying upon the masses of workers a permanent leadership by some Jews. The governments of peoples all pass with the formation of the universal republic effortlessly into the hands of the Israelites in favour of the victory of the proletariat. Then the personal property of the rulers will be able to be suppressed by the rulers of the Jewish race who will everywhere govern over the property of the Peoples. Then the promise of the Talmud will be fulfilled, that when the time of the Messiah has come, the Jews will have the goods of all peoples of the world in their possession.”
Enlightenment is but a click away and free to anyone with an open and thinking mind:
http://www.catholicvoice.co.uk/pinay/
Only thing left to do is find somewhere to promote him. Replace Turbo Timmy?
corzine is the poster boy for wall street and DC. few could fill that picture better. GS exec, senator, gov of NJ, big money bundler, overseer of MF implosion. and all this after the biggest heist in history the robbing of trillions in the fall of 08. we all knew years ago there were criminals at high levels but never did I think the corruption would nullify the whole legal and government system. can any of us say that this system should stand..that the elections are not also part of this con? can we all be this dumb.
+1
Yep, over 80% of the vote is cast on ES&S or Diebold voting terminals!
Dateline: Nov 2000, Miami. - A parade of poor disenfranchised black voters were led to the microphone and each one would say, "I wanted to vote for Algore but I vote for Pat Buchanan by mistake!"
Now vote to your little heart's content. Enjoy the show, suckers!
Hey, I just made this for ya'll at pictogames. "Justice for Jon"
http://www.pictogame.com/en/play/game/jolMwgwW7CQz_justice-for-jon
This Corzine guy makes Bernie Madoff look honest.