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Heeeeeere's Jonnie (Corzine)
Corzine's permanent expatriation plans may have to be delayed as Corzine is called in to explain why he didn't leak news of MF Global's demise to Congress ahead of time so the 435 insider traders could profit on the outcome.
- MF GLOBAL TRUSTEE LEARNED OF $1.2 BILLION SHORTFALL AT WEEKEND
- HOUSE PANEL WILL HOLD HEARING ON MF GLOBAL FAILURE ON DEC. 15
- CORZINE CALLED BY HOUSE FINANCIAL SERVICES OVERSIGHT PANEL
In the meantime, the theft at MF Global is getting more and more staggering by the minute:
- MF GLOBAL TRUSTEE HAS $50 MLN IN BOUNCED CHECKS, LAWYER SAYS
- MF GLOBAL ESTIMATE OF SHORTFALL COULD STILL RISE, LAWYER SAYS
- MF GLOBAL TRUSTEE HAS TO BE CONSERVATIVE, LAWYER SAYS
- MF GLOBAL'S $1.2 BILLION SHORTFALL ESTIMATE IS PRELIMINARY
- MF GLOBAL TRUSTEE TO DEAL WITH BOUNCED CHECKS, LAWYER SAYS
When all is said and done, the total theft will be at least $1.5 billion as we expected on November 2.
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Yes, Wall Street is corrupt. And so what???
I heard Jon is shacking up with Brad and Angelina in France right now.
The $1.2billion will never be found!
It will be secretly doled out amoungst congess through lobbyists and Corzine will walk?
We can use accounting techniques to mingle it with Rumsfield's 2.3 trillion unaccounted for.
Breaking; Ron Paul at 25% in Iowa independent poll.
I know Ron Paul and his staff read ZH.
Wouldn't it be a nice gesture to his supporters if Dr Paul announced at the CNN debate tonight that he's looking into hiring the Ron Paul Blimp himself because of lack of MSM news coverage.
We probably still have the banners we could sell to the campaign for cheep.
Ron Paul Blimp Launch
http://www.youtube.com/watch?v=BUk94yxJ1Us&feature=related
i thought you were joking about the blimp. THAT IS AWESOME!!!! I "pledged" and will spread the word. (I would love to see a central Ohio flyover!)
the blimp only says shit on one side of it. Why is it blank on one side?
the blimp only says shit on one side of it. Why is it blank on one side?
Because some of us only need to read the message once.
Cold man!-laughed my ass off. Milestones
Because some of us only need to read the message once.
;-P
. . . but, type the message twice. :-)
Article on Surge: http://www.revolutionpac.com/2011/11/new-iowa-poll-places-ron-paul-firmly-in-first-with-25/
FYI- U can belive it or not - german media is embedded - there is no such a thing as Ron Paul. You can see every ugly face of the GOP creeps, but there is not a single word about Ron Paul. I'm yeling and spaming on overdrive.
Bielefeld conspiracy :-(
__________________________________
But me as NoClueW***er, adds ( with a lot of persuading ), 1 name on da list of CoSponsors of HR459. Not a big thing, but the best I can do.
It would only be 433 doing insider trading. Dr. Paul would Mr. Kucinich wouldn't participate.
Eh?
The retard must have mistyped. To solve the confusion, you could actually ask Paul if he makes trading decisions off of his day job and expect an honest answer. Let's not forget Ali bama and the court of 100 thieves in the senate.
Last I looked, Ron Paul invests mostly in metals and miners, i.e. puts his money where his mouth is.
Doesn't take any insider info to implement his investing strategy.
dup
Me thinx that 433 insiders r in Sigma X :-P
_____________________________________
Anonymous trader: the guberments don't govern - Lloyd does.
99 Thieves. Rand Paul is in the senate, representing Kentucky.
Das Fail.
History has many examples of one man who stood up and made the difference. Mr. Kucinich is the only man standing in that circle of pimp and circumstance who is over Money and Self. Happy Thanksgiving whenever and as often as you do it.
a view on the baby boomer attached this is viral
Penn State, my final loss of faith By Thomas L. DayI’m 31, an Iraq war veteran, a Penn State graduate, a Catholic, a native of State College, acquaintance of Jerry Sandusky’s, and a product of his Second Mile foundation.
And I have fully lost faith in the leadership of my parents’ generation.
Penn State football coach Joe Paterno arrives home Wednesday, Nov. 9, 2011, in State College, Pa. (Matt Rourke - AP)
(Read Day’s follow up to this post in his chat Monday with readers here. )
I was never harmed by Sandusky, but I could have been. When I was 15, my mother, then looking for a little direction for her teenage son, introduced me to the Second Mile’s Friend Fitness program. It was a program resembling Big Brother, Big Sister with a weekly exercise regimen.
Instead of Sandusky’s care, I was sent to a group of adults, many of whom were in their 20s. They took me from a C-student to the University of Chicago, where I’m a master’s student now. They took the football team’s waterboy and made a 101st Airborne Division soldier.
I was one of the lucky ones. My experience with Second Mile was a good one. I should feel fortunate, blessed even, that I was never harmed. Yet instead this week has left me deeply shaken, wondering what will come of the foundation, the university, and the community that made me into a man.
One thing I know for certain: A leader must emerge from Happy Valley to tie our community together again, and it won’t come from our parents’ generation.
They have failed us, over and over and over again.
View Photo Gallery: Penn State loses their first football game since Joe Paterno was fired.
I speak not specifically of our parents -- I have two loving ones -- but of the public leaders our parents’ generation has produced. With the demise of my own community’s two most revered leaders, Sandusky and Joe Paterno, I have decided to continue to respect my elders, but to politely tell them, “Out of my way.”
They have had their time to lead. Time’s up. I’m tired of waiting for them to live up to obligations.
Think of the world our parents’ generation inherited. They inherited a country of boundless economic prosperity and the highest admiration overseas, produced by the hands of their mothers and fathers. They were safe. For most, they were endowed opportunities to succeed, to prosper, and build on their parents’ work.
For those of us in our 20s and early 30s, this is not the world we are inheriting.
We looked to Washington to lead us after September 11th. I remember telling my college roommates, in a spate of emotion, that I was thinking of enlisting in the military in the days after the attacks. I expected legions of us -- at the orders of our leader -- to do the same. But nobody asked us. Instead we were told to go shopping.
The times following September 11th called for leadership, not reckless, gluttonous tax cuts. But our leaders then, as now, seemed more concerned with flattery. Then -House Majority Leader and now-convicted felon Tom Delay told us, “nothing is more important in the face of a war than cutting taxes.” Not exactly Churchillian stuff.
Those of us who did enlist were ordered into Iraq on the promise of being “greeted as liberators,” in the words of our then-vice president. Several thousand of us are dead from that false promise.
We looked for leadership from our churches, and were told to fight not poverty or injustice, but gay marriage. In the Catholic Church, we were told to blame the media, not the abusive priests, not the bishops, not the Vatican, for making us feel that our church has failed us in its sex abuse scandal and cover-up.
Our parents’ generation has balked at the tough decisions required to preserve our country’s sacred entitlements, leaving us to clean up the mess. They let the infrastructure built with their fathers’ hands crumble like a stale cookie. They downgraded our nation’s credit rating. They seem content to hand us a debt exceeding the size of our entire economy, rather than brave a fight against the fortunate and entrenched interests on K Street and Wall Street.
Now we are asking for jobs and are being told we aren’t good enough, to the tune of 3.3 million unemployed workers between the ages of 25 and 34.
This failure of a generation is as true in the halls of Congress as it is at Penn State.
Perhaps the most vivid illustration this week of our leaderless culture came with the riots in State College that followed Paterno’s dismissal. The display resembled Lord of the Flies. Without revered figures from the older generation to lead them, thousands of students at one of the country’s best state universities acted like children home alone.
This week the world found the very worst of human nature in my idyllic Central Pennsylvania home. I found that a man my community had anointed a teacher and nurturer of children, instead reportedly had them hiding in his basement. The anger and humiliation were more than I could bear. I can’t wait for my parents’ generation’s Joshua any longer. They’ve lost my faith.
Thomas Day is a graduate student at the Harris School of Public Policy at the University of Chicago.
Read more On Faith:
James Martin, SJ: A Catholic priest’s
Im a baby boomer and i approve this message.
A more spoiled generation of entitled, self-involved, featherbedding fuck-wits you can't imagine....
There are good people in your generation, but most are fucking spoiled. Any young person working in customer service or a business which serves them knows this to be true. The Boomers here can junk away... it doesn't change the truth.
There is nothing in your statement that wasn't said time and again since 1981.
That being said, what have you done lately to better the community you live in? Gratuitous statements made with typical marketing hooks doesn't cut it anymore. Do you follow the trend, or lead it?
The problem with the boomers is the anti-war crowd was labelled hippies. When the hippies said "question authority" the "right thing to do" was to reject the hippies to keep the Corp/Gov/Mil machine pumping jobs. So the "good kids" didn't question authority.
Mix that with "money for nothin' and the chicks for free" and you get Corp/Gov/Mil doing "money for nothin' and the chicks for free" while the boomers were not "questioning authority".
Add Ad sales to the mix, or: Buy, Buy, Buy and "Bling" with the most recent generation; sprinkle in "reality celebritization" - as in "you can have it all, too" - and here we are.
The boomers stuck their heads in the sand: They are guilty of denial. They became the worst thing a democracy can be lead by: absent citizens. To date, everyone seems to think that someone else is going to fix it.
Except the OWSers. And Ron Paul. And, a few on either side of the fence who need to fight it out in the arena of ideas before an engaged citizenry.
Yeah. Right...
yup.
a whole lot of 'go along to get along" and get rid of the malcontents, "ethicals", moralists, idealists and whistleblowers...
Penn State is just the latest case in point.
"team players" turning blind eyes and collecting paychecks in the face of evil itself
Boomers are not monolithic
I'm 50 and came of age in the late 70's completely different than the earlier 60's hippies. I agree that the bulk of thse issues haven't been addressed by the 60's boomers but some of us knew that we couldn't sustain this progressive system.
More amazing than criticism by class is the ability of each and every of these bad actors to understand the implications of their actions and fly accordingly.
A little off topic but...
Foreclosure Black Hole Narrative Time!
I will share with you an incredibly personal experience, which relates to many of the issues address on this website (and some that aren't). The summer of my junior year (2008) had a drastic impact on my life. The foreclosure crisis caused my friend Frank's dad to loose his job as a mortgage broker. What a surprise. After that, Frank's parents’ marriage fell apart. Frank's mother moved out of town and his dad moved in with his new girlfriend a couple of cities away. Their house was under foreclosure by the time the summer started. Frank, instead of moving in with his mom or dad was allowed to stay in the house alone for almost 8 months. His mother thought he was living with his dad and his dad just didn’t give a sh*t. Over the course of the eight months the house (~$250,000 suburban home) became dilapidated. The electricity was shut off...and turned back on by Frank's dad and then turned back off again by the power company. Who then threatened to take legal action against Frank's dad. Who then made up the name Steven R. Wells and set up a fake account with the power company to get the power back on. Basically the situation was fu*ked up and Frank's dad is a shi*t bag.
Our friends and I would always go over his foreclosed house and hang out. We were fourteen to seventeen years old, and were squatters. The house slowly became a commune for any kid looking to get away from home. To avoid the details, the situation resulted in drugs, fights, alcohol (14-17 year olds), police and social workers. Frank and I occasionally partook in the events but were usually spectators to the phenomenon. Frank is a brilliant kid, 4.3 GPA in high school and currently studying actuarial science at *SU. In the down time at the house, the situation spurred conversations about our lives and the world around us: what caused his dad to loose his job...why his home life fell apart...what the future would be like...what we wanted to do with our lives...what did the people around us view as important in their lives...how does your family shape you as a person...current events...politics...economics...history...etc. With the Internet and motivation anybody can find anything out.
During this time, he and I had many revelations about life. How is it that Frank's dad could profit off of giving loans to people he knew could not afford them? How he could have a “better” life (until the bubble burst) than a member of the working class. How tough economic times could rip a family apart. How kids are the most effected by family turbulence. How greed and the thought of “easy” money corrupts people. How underage drinking and drugs can severely reduce a person’s life prospects. How the government and Wall Street were so ignorant to the potential results of their actions or inactions. The more we discovered what the world was really like the more we would research and converse. We erased years of our public school “indoctrination” and started learning things that they don’t teach in school.
Put this into a perspective of a child who grew up in post September 11th America. The major headlines in American history that my generation has been alive and politically conscious for are 9/11, useless wars in Afghanistan and Iraq, the BP oil spill and the foreclosure/global financial crisis. This coupled with every mainstream media agency telling our generation that we are not going to be as prosperous as our parents makes for a generation of “lost” kids. We are burdened with college loans. We can’t find jobs. We have no “acceptable” options besides college. China owns our country. The income gap is widening. Poverty is on the rise. Institutionalized racism is alive and well. Our politicians are busy chasing money and fighting ideological battles instead solving our country’s problems. What else must i list.
There needs to be change in this country. We are facing greater global competition than ever. The unique conditions that made the United States so successful in the past century are dissolving. People need to put down their credit cards, make safe financial decisions, tighten their belts, learn how to WORK hard and be HONEST.
They say the money that bailed out the banks has been paid back, but the banks will never atone for the damage that was done to people's lives.
Think of the marriages the foreclosure crisis ruined. Think of the kids lives that were torn apart. Think of the kids who now wake up with a beer or a shot of dope. Think of the consequences of the decaying houses in neighborhoods (much worse in the inner city). Think of the wealth that was legally conned out of (mainly) minorities hands while they pursued the American Dream of homeownership (do some research into this).
All to make easy money.
I'm just glad I have parents that taught me to work hard to earn my money.
But i will miss that weak sense of autonomy when i was flippin' in my squat
http://www.youtube.com/watch?v=unxrRffd9iY
Interesting. Keep thinking about this stuff, kid. If you're going to college, research different careers and their salaries before you choose. The days of "I'll be a liberal arts major and figure it out later" are over.
By the way: "what caused his dad to loose his job".
It is spelled "lose." What caused him to lose his job.
For some reason, this is the most common misspelling I see on the internet.
Advice Time:
Already finished 2 years of undergrad. Ran out of general education credits to take...Can't push this off any longer.
Its time to decide.
-Operations and Supply Chain Management? (My cousin could hook me up with a decent job) Soo boring though.
-Business Administration? (Offered manager position at regional grocery store but I turned it down to finish school)
-Political Science? (I have the most interest)
Or...I am a Swiss citizen so i could go over there and join the military.
Problem is i can't speak French
Then come back to U.S. from military service (knowing French)
Finish my degree in...
-International Business? (It would be an awesome job)
WTF should i do?
"I know a way out of Hell. Find a child, a child whose mother and father were Supply Chain Managers and raise him as your own."
Let me say that I feel bad for the younger generation inheriting this mess. While it is easy to point the finger at the financial and political elite as the problem, there is something else slightly more daunting at the root cause. Peak oil and declining net energy is the elephant in the room. It's the trigger that crashed the debt bubble, and it's the reason we are not likely to have a sustained recovery anytime soon. You need to understand that you are going into a different world and the old paradigms for choosing a career path won't work now. Now with this in mind let's look at your choices.
International Business- Some believe, especially the peak oilers, that transportation fuels, like bunker fuel, are going to get too expensive to facilitate the kind of world trade we have grown used to over the last few decades. It is likely that manufacturing will get more localized and closer to where people use the products. Something to consider.
Political Science- While some government will always be necessary, I think it will be a lot smaller in the future. We are about to see a great unwinding and perhaps a large number of layoffs in government jobs. Often this type of degree was seen as pre-law. Again, I see this field as saturated beyond imagination.
Bugging out to Switzerland - maybe the best choice you have listed. If you have friends or family over there that can help you, it might be a good idea.
Other options - Computer science, geology, chemical and petroleum engineering might have more blue sky ahead. Another choice would be to leave college and spend 2 years learning a trade like welding, plumbing, or machining. Those fields are always in demand. I suspect the private security business might be good in the future. Anyone who can produce food is going to be very important as well. Hope that helps.
"I understand your frustration with boomers" indicates a great need for a more comprehensive view of American history. I, too, am a Boomer, but was born on the leading edge. I was lucky enough to graduate from college the year they stopped giving draft deferments, so I joined the Air Force (enlisted, not officer) to avoid being drafted into the Marines. It was Boomers who protested against the 'greatest generation' that got us stuck in the quagmire in Viet Nam. In retrospect, it was no special deal, really. Shit happens to most of us at one time or another, and this has always been true.
Read history and you will find that it is filled with people and groups that want to impose their will on others and try to use the power of government to attain their ends. This has been true in the U.S. too. Read about Andrew Jackson's battle with the national banker clique. Read about the way robber barons subverted government to their own ends. As our government has grown, particularly in the progressive/liberal/fascist era (approximately 1900 onward), the lot of the average joe has mostly declined. (Maybe correlation does not indicate causation, but in this arena I believe it does.)
True, the decades after WW II were an exception, but only because the U.S. was the last functioning industrial economy in the world. It was hard to fail quickly, but once Japan and Germany were rebuilt our luck ran out. In general, however, we've been going downhill economically since 1971, to pick a semi-random date. I blame the growth of government acting as a brake on the wheels of commerce.
Books - probably thousands of books - have been written on the subject. It isn't just Boomers, or the FDR generation, or any other age group. It is the collectivist ideological faction that is to blame. I could say more, but will leave it at this: any government big enough to help you is big enough to hurt you, and probably will. Rest assured that there will always be someone trying to use government for their own ends, because 'they are better than the rest of us'. Read "Animal Farm".
I offer no solutions. I managed to muddle through, and convinced few that limited government is best. Then again, I never thought I needed any help from the government.
Go to Switzerland if you are a citizen. The experience of living abroad will change your view on the world. The world is a great place with many good people. Learning the language would be invaluable, especially if you choose to go back to the US. As a citizen you could even attend school there for far less than in the US. Good luck.
As for the military. Its the Swiss. Do I need to say anything more?
Go to North Dakota and work in the oil fields for a couple years. If you really don't know what to do, working there will put some money in your pocket, show you what you don't want to do, and put you in touch with many people passing through (some good, some bad).
After a couple of years working and talking to people, you'll have an idea of what is right for you.
If you are any good at math, move into math and physics. Your education will help train your brain to think logically and practically. It may position you to survive and trive in a post-peak oil world and actually do something to make the world a better place.
Move to Switzerland as soon as you can. I would if I could.
Just don't be caught smiling on the street in Suisse, they'll think you a bit daft.
Check this out:
http://www.businessinsider.com/majors-pay-the-most-2011-11
Nobody really knows what the future job market will look like. I suspect that we are on uncharted ground. The future will be nothing like the past. Find something that you have a real passion for, and that you love to do, and are good at. Even if you are not getting rich, you will enjoy your life. If there are only ten jobs in your field, and you are one of the ten best, you will have a job. Keep learning; work very hard at it, much harder than the others. Be ruthlessly competent and competitive. It will be the best investment that you will ever make. And stay informed. The world is changing very fast. You will want to know what is coming at you, while there is still time to plan and prepare. Be strong. The future will not be kind to the weak.
You have hit on the "learning from loosers" option to doing one's homework.
I've often thought (twice now) that all prisoners should be assigned a Webster's Encyclopedic Unabridged Dictionary and PBJs 'till they can communicate themselves straight.
My boy is eighteen.may the NWO rot in hell over and over again for what it has done to our youth.
magnetic electricity production- blocked by governments, but "free" power
Try to at least take a high school remedial physics class ....
A remedial course is more appropriate to one who has first had some physics to re-anything.
Im in University Physics right now and it wish it was my calling but sadly its not.
I understand your frustration with boomers, of which I am one, much of your consternation is well founded. When I speak with others in my generation and ask what they are prepared to do I mostly get blank stares. But the realization that things are entirely out of balance has become apparent.
Many have worked very hard and made the sacrifice to get their families to the next level, have that nest egg or retirement prepared and are looking for 20 years of easy street after 45 years of tough slugging. Many of us started the work force in the late 1970s, so we have been thru it. My first mortgage was 11.75% in 1985, gas lines, 15% unemployment/inflation, Jimmie Carter, etc so some of this is not foreign to us.
IMHO, what is happening is an awakening by many how messed-up this has become, an out of control government impossibly corrupt is not something we will stand for. Soon, the time will come when boomers will hold the perps responsible. I make it a point when I talk to others of my generation that they will soon need to make some very difficult decisions, they know this is the case, but don’t really want to go there yet. We will recover, but I am unsure it will be in time to save a whole lot.
FWIIW, sschu
Just watched "Up in Smoke" from 1978; gas was 60.9 regular and 64.9 premium. We bought the war for energy on the arm and we get to eat the sheet sandwich now.
So,"...the foundation, the university, and the community that made me into a man." Don't know (don't want to know) what they made little Tommy Day into, but it is certainly not a man. Guess what... institutions and communities don 't make men... it's the other way around!
They can, however make cry-babies. Cry-babies looking for "leadership", and in all the wrong places. Once again...Grown men and women don't need leaders.
Is Paterno supposed to be a "Boomer"? Born 1926.
In the future, save your breath...just dial 1-800-WAAAH!
I'm a baby boomer and I do not approve of attempts to split the 99% along generational, religious or racial lines.
Focus on the Corzines or sit the fuck down.
Pat Tillman 'believed' when he enlisted. He felt very different as time passed - one of the reasons his journal disappeared.
I 'believed' too when I was 17 - GAP image cadet at USMA. But my firsties were a bit more realistic. They entered in 1969 - after Tet showed many that 'Nam was unwinnable. Many with low deraft numbers were there only to put off Vietnam for another 4 years, hoping things might wind down or they might get lucky and draw Signal or something besides groundpounding. Sure, a few gung ho types wanted to fly choppers but after seeing too many previous grads come back in coffins the mood was hardly positive. I resigned - along with 40% of my class. Nixon let loose on Cambodia the following year though the charade was over by the time I would have graduated. We declared victory and left South VIetnam - which promptly collapsed. I'd have gone if drafted but I didn't want to be responsible for the lioves of anyone else if I did... at least not as a platoon leader. This was a major shift in family thinking - most had served as citizen soldies since the Revolution. I got my draft lottery number after I resigned - over 350. I took that as divine confirmation I made the right choice. I wouldn't let my sons near the military now - after Ira I fear we will always be at war with 'Eastasia'.... I expect Iran to get hot soon as adiversion to our current financial mess.... God knows they've been trying to get that one going since '04. But we won't be able to conquer the opil we can no longer afford and truth is we're already bankrupt and can't afford the wars we're still fighting.... (and Iraq turned out SO well... that neocon wet dream tirned to merde)
Sooner or later you wake up and realize that politicians are all too eager to put the lives of the young and idealistic at risk for causes that are not what they seem. Smedley Butler nailed it - 'War is a racket' Sadly, 9/11 was viewed as an 'opportunity' by some to do grievous damage to our rights and liberties. I no longer recognize this country. The Republic is gone - and the Empire that replaced it is foundering. The plutocracy is doing all they can to hold on, to put off our nation's demise - and to loot and pillage what's left before the evenual collapse but I fear that collapse IS coming. It is only a matter of when.
The Republican Party my working class family was so loyal to has revealed itself as a tool of the rich - unconcerned about what is best for the nation. The Democrats are content to be the 'opposition' - not having to actually DO anything of note. Ultimately both sere the highest bidder - not the nation. National politics is the ILLUSION of choice. I am glad my life expectancy is short but I fear deeply for my children and the world they are inheriting. NOBODY has the courage or guts to deal with the all too real problems we face.
You do what you can and try to leave the world a little better and more fair than you found it - but it's getting DAMN hard.
suddenly it appears that he and dsk are best of friends.
Nothing to see here.... We found the money..
and now for corzines next trick...
http://www.businessinsider.com/13-billion-in-mf-global-funds-recovered-2011-11
In all of recorded history, there has been no instance of such losses ever being recovered; it's a law of freakin' nature you might say.
More likely sipping Mai Tai's with Angelo Mozillo.
Hamy, may you reap what Nature decides you deserve to reap.
It sets a bad example?
HamyWanger = fool.
I reckon you haven't been here long enough to recall H-a-r-r-y Wanger? Hamy is just a spoof.
And Johnny Bravo and Master Bates before him :-)
A source of mine said that Corzine PERSONALLY put on all of the EU debt positions. He'd come in, sit down, and start trading for half a day, then leave for meetings etc....
Whether he's personally responsible for the theft is another story, but mid-level managers don't go around authorizing the commingling of client funds. Zero incentive to do so.
hang the s.o.b.
but taze and bear spray him first...
The new futures market motto: "Your Money Is Safe Until It's Not."
Wanger is slammed for saying Wall St is corrupt?... most of the posts and readers here, I think, support that proposition. Maybe he's slammed for the "so what?" question... like it doesn't matter. Maybe the "so what" is an inarticulate way of saying; "wake the fuck up!, what are you going to do about it?"
I've traded commodities since the 90's. Started studying and trading 20 years ago because I thought the system would fail because of debt and demographics. I felt the markets would always be around and my hedge on the future was the ability to trade the commodity space along with the FX markets....
I now question that.
The May 6th flash crash was a wake up call for many of us with funds at risk. I feel the MF Global cluster-fuck is a far bigger event. While May 6th appeared as an outlier, MF Global is a systemic failure. Do people understand what a systemic failure portends? My naive thoughts from the 90's of trading my way thru the rough waters of demographical change in the 2010's has given way to much darker thoughts. Do I now trust my broker (who had the foresight not to buy MF GlobaL a couple of weekends ago) to always have my funds available? But my biggest question goes to a far more complex and insidious set of issues,... how many of MFG accounts were standing for delivery in the PM compex? Were these contracts more than what was available at the COMEX? Is the lack of immediate follow-thru on the part of the CME & CFTC an example of complicity, buffoonery, or incompetence? Was this a deliberate/willing takedown by the TPTB?
A few years ago, a friend and I did a thought experiment trying to decide the thing that had the greatest utilitarian function in our society. I didn't like the answer we came up with, but can't argue... it was ammo
Looks like Gerald Celente will stlll be pissed.
libertarian86.blogspot.com
#JohnCorzineInnocenceProject
*Sponsored by Obama/Biden 2012
A new FED chairman.... I LIKE IT!!!!
He.s already trained in losing money, he'll be a hit!
Jim Grant is the only worthy candidate at present. Infact, Grant happens to be Ron Paul's interim choice for position of FED chairman while (in the mean time) Paul works to end the Federal Reserve completely and restore sound money.
+++
Jim Grant would make an outstanding Federal Reserve Chairman or Treasury Secretary.
... and mean while, Johnny's once desired assets are now lethal liabilities - names dates amounts drop locations - 4-sure Johnny hear the same foot steps Deborah Palfrey did `fore she morphed to worm's meat in a shed behind moma's trailor ... ya had a good run Johnny boy .. not everybody can take that to the bottom of the east river ..
Advice: follow path of least pain - and no - removing all the sheds from your mothers backyard won't save your putz ass either!
Seriously.... 1.2 trillion? FUCKING PRINT IT!!!!!!
Plenty more paper available!
Billion.
Whatever, where's the difference, I'll never have any of those 2 :)
You certainly will have it... in debt.
Hm, u r nailing Jon Kerosine.
Supermario of ECB burned 30 Bn. € in one week. Jon who ?
If he had "misappropriated" 1.2 TRILLION, he might be in some sort of legal trouble, or at least he may have been detained and interviewed by some law enforcement/investigative agency.
Misplacing $1.2T results in one of the following penalties:
-being made Speaker of the House
-being "elected" President
-being reappointed as Chairman of the Federal Reserve
You forgot Secretary of Defense
Don't forget Secretary of Defense.
lock this fucker in the prison showers with sandusky
That would be cruel and unusual punishment for Sandusky
you might have to shave his butt. Corzine is about 55 years too old for Sandusky and way too hairy.
535.....
+1
Why is he still walking around free again?
his bicycle was stolen!
Because he's rich!
He has over 1.2 billion in his personal checking account!
Because he has a "Goldman Sachs Get out of Jail Free" card,otherwise know as "knows TOO much Card"
Soon to be the "Committed suicide by shooting himself in the back 13 times..." card.
I hope no mobsters lost money in this debacle ;-)
thats how american politicians operate
If it's a theft and not a loss, WHERE DID THE MONEY GO?
FBI Agent inspecting Corzine's residence: Sir I think there is 1.5 billion under Mr. Corzine mattress!?
FBI Agent's babysitter: These are not the money we're looking for!
Just remember: John is what Lloyd will become in ten years.
Lloyd is bold more than 10 yrs :-)
If Jon still moves- their chances r equal. Lot of AR15s in NJ ... :-)
I dont trust anyone who is a friend of the Cramer. Or has a cul-de-sac on his head.
http://www.cnbc.com/id/45363647
MF Global moved customer funds to BNY Mellon - WSJMF Global moved hundreds of millions of dollars in customer money from its U.S. brokerage unit to Bank of New York Mellon Corp in August, just months before filing for bankruptcy protection, The Wall Street Journal reported. The movement of money affected customers of MF Global outside the United States, including in the United Kingdom, the paper said, citing people familiar with the situation. However, there is no sign that the transfer of funds is related to the estimated $600 million shortfall in customer money at MF Global, the Journal said. The money transfer allowed MF Global to avoid setting aside more capital for the customer assets, at a time when it was being asked by regulators to add capital at its U.S. brokerage unit to cushion against possible losses from the firm's $6.3 billion bet on European sovereign debt, the Journal reported.
BTW - I have it on EXTREMELY reliable authority that each and every one of the 1,500 layoffs announced earlier in the spring by BNYMellon will be completed by the end of this year.
That way, the "bank" can maximize its "savings" from these "displaced" workers.
New name for a rock group - The Displacements.
And, I can even rework the lyrics to a Rihanna song, tying in the outsourcing of US BNYMellon jobs to Pune, India, as part of the "Pune Initiative" currently in progress at the "bank".
"Pu-ne-ne. Where's my job? Pu-ne-ne. Where's my job? Pu-ne-ne. Where's my job? Where's my job?"
they're already a band.
Darn. Another dream of mine dashed.
Is that why Bank of BNY Mellon came up with that fee for holding the cash for large clients? That was back in August too...
http://online.wsj.com/article/SB10001424053111903366504576488123965468018.html
Glad this barely was mentioned in the FOMC minutes:
And on MF Global:
Sounds rather similar to: "At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained."
Yeah, it's limited. Limited to destroying the commodities futures market.
All your hedges are belong to us.
staggering.......i saw on 321 gold denninger did a piece today saying its all over,,,,,,i haven't ever read denninger i knew he was aniti gold at one point but his piece today is correct i believe....
I hear Dubai has no extradition treaty. Run, Jonnie, run!!!
Yeah, you can get in but you can't get out. Lovely place....
Hotel California East?
My money is on Belize.
Better to differcify your money.
May i suggest putting 50% in Nigeria to? The home of presidents!
If the Federal Reserve were under daily watch by the Federal Bureau of Investigation ,we'd be homeward bound immediately.
Oggi normale.
Ciao!
you yanks all into guns.... i don't condone violence but 1.5 billion of folks money someone will get popped... people will take the law into their own hands...
Nope.
This is America; land of the feed and home of the Braves.
(bread & circuses, if you didn't catch that)
You can't match Germany ...
Germans wanted to make a revolution - but there was a sign:
Rasen betreten verboten !
... so they went home.
Yes, it must be some scene at these Congressional Commitees. An abashed banker goes before the august body, and tells them how his bank's about to tank, while they sit in their rows shouting into their phones 'sell' and 'short', with Nancy Pelosi scretching the loudest.
screeching, stranny boy, screeching. No need to thank me.
What did you do? vs. Who do you know?
Why isn't "Don" Corzine standing tall in front of judge explaining why he screwed all his clients? Like that will ever truly ever happen.... by then he wil have an OBummer pardon for raising his bud tens of millions of dollars.
I wonder if we will get to see Steve Liesman stand up and Thank him for all his good work in the past, when he testifies before the House Financial Services Oversight Panel.
Hey maybe everybody's doing it.
And still nobody lays this mess at the foot of CFTC's door! Incredible. Question: if, as TD suggests, Congress are pissed (off), will they now deal with Gensler by firing him? Perhaps they should go the whole hog and dismantle the useless piece of s&*$ that it is.
Silver will rise whatever machinations and gyrations around Washington and lower Manhattan take place.
UD
Someone better tell Maxine Water (prior to this hearing) that a)Corzine did WORK for Goldman and b)what a seg. account is.
For the future boys and girls, if a broker wants to send your account transfer out in a post dated check via snail mail as opposed to wire transfer, one can count on that snail mail check bouncing.
First question better be: Mr. Corzine how much money did you bundle for Obama 2012?
Go ahead ask me a question... FIF!
http://www.youtube.com/watch?v=4CzocBkrWpA
seriously lol. I love that show.
he is going to wish he didnt walk away from that car accident
It is about fucking time.
Get the popcorn, this has potential....
Israel to get approval to take out Iran Nuc plants December 14.
Yeah. I bet the House will go all Charlie Rangle on his azz. Right.
{Anthony Mozilo & Hank Greenberg golfclap}
Steal a pizza and you get jail. Steal $1.2 Billion and you get a hearing with the House.
Bounced checks? Do the trustee know what they're doing? Maybe it's another scam to milk investors?
Long bank stocks. Profits will soar just on the NSF check fees.
< fall on his sword
< slit his wrists in a bathtub
Are we talking about imsaul0968?
Don't worry about anything Frankie Five Angles.
So......
Whats the charges against Jon Goldman Corzine...?
The people want to know.
$50M in bounced cheques!!! Is it from the cheque book you see used at these charity events?
Wonder if one was the reelect obama campaign contribution...
I hope he goes to jail! This is wrong and if he gets a free pass - WHERE IS THE OWS for the crony capitalism as this seems to be a great example!
Jail is too good for that sleeze ball. He needs to die a painful death.
Nobody there understands what he's done, other than strike a blow against the Street. Here's what I expect out of OWS.
FREE CORZINE!!
It sounds as if you're advertising an experimental new drug for severe skin conditions.
Free Corzine????
First, he would have to be detained. Pretty obvious Eric Holder would not wish to inconvenience Jonny.
BTW, where IS Corzine? Wouldn't it be interesting if he was modeling fine and stylish cement footware in the Atlantic?
He's in Chicago. He's paying 1 million/month to stay safe.
I'd say that buys him... 1,200 years give or take.
Taking a bath with Bin Laden?
FRY CORSINE !!
... lectorate free of charge.
Don Calzone carries these Congress men and women around in his pockets like so many nickels and dimes.
what people does nhot notice tough.. that criminals are stealing less and less money comparing to Maddof.
Even criminals are deleveraging or its just much less money left to steal.
Corzine:
"I'm not here to talk about the past."