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Jon Corzine Will Not Only Not Face Prosectuion, But May Be Launching A Hedge Fund Imminently

Tyler Durden's picture




 

In what should be the biggst non-news of the day, the NYT is reporting that not only will Jon Corzine not face any criminal prosecution for vaporizing hundreds of millions in client money (which subsequently condensed in the JPM middle office), but will in fact be launching ... wait for it... a hedge fund. "A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives. After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case." And algos... And glitches... And faulty software installs... And some junior person who has long since left the company...  and, and, and, lots and lots of passive voice... Because in the Banana republic of the crave, no bundles can ever go to jail, no matter how heinous the crime, which is not to say other places are better: in Thailand you shoot your secretary in the stomach during dinner with an Uzi and you don't even pay a $600 fine. But at least it puts things in perspective. So what is next in store for this former man of power? "Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans. He is currently trading with his family’s wealth. If he is successful as a hedge fund manager, it would be the latest career comeback for a man who was ousted from both the top seat at Goldman Sachs and the New Jersey governor’s mansion." So will Jon will be buying Italian bonds? We don't know. Ask him yourself.

Of course, the question remains: instead of launching Corzined LP with all those superfluous costs to cover such unnecessary items as such as legal and compliance, just fire away with a 100x levered ETF buying only Italian bonds with a ticker VPRZ.

 

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Thu, 08/16/2012 - 09:33 | 2709837 Aziz
Aziz's picture

And there will be willing muppets lining up to give him their money so he can lose it all again?

Says it all about our disgusting society — no charges filed against Corzine for stealing from clients (and he can even start a hedge fund!), but Grand Jury already convened to prosecute Assange for telling the truth.

Thu, 08/16/2012 - 09:34 | 2709852 SeverinSlade
SeverinSlade's picture

Any muppet that willfully gives Mr. Corzine their money hoping on a positive ROI deserves to lose it all.

Thu, 08/16/2012 - 09:38 | 2709874 Aziz
Aziz's picture

Any muppet wilfully giving Corzine their money is smoking some good drugs.

Thu, 08/16/2012 - 09:41 | 2709887 SeverinSlade
SeverinSlade's picture

Probably bath salts.

But seriously, "investing" with Jon Corzine makes as much sense as hiring Obama to represent you in court to protect your Constitutional rights.

Thu, 08/16/2012 - 09:49 | 2709926 GetZeeGold
GetZeeGold's picture

 

 

In other news.....the new Corzine hedgefund makes one billion dollars profit....in it's first day!

Thu, 08/16/2012 - 09:50 | 2709931 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

Fuck you Jon Corzine!

Thu, 08/16/2012 - 10:01 | 2709973 dwdollar
dwdollar's picture

I'm sure more than a few congressmen will trust him. I'm sure they made good money being bought off by him. But now there's only one problem. They need a place to invest it. Jon Corzine to the rescue!

Thu, 08/16/2012 - 10:03 | 2710054 Colombian Gringo
Colombian Gringo's picture

What a fucking disgrace! That's it, I am pulling ALL of my funds out of any futures brokerage. The CRIMEX can go to hell!

Thu, 08/16/2012 - 10:10 | 2710121 The Big Ching-aso
The Big Ching-aso's picture

 

 

"......with liberty and justice for all."

Thu, 08/16/2012 - 10:17 | 2710199 malikai
malikai's picture

I pledge allegience to the flag, of the United Feifdoms of America.

And to the Republic, for which it once stood.

One nation, forsaken by God.

With liberty and justice for none.

Thu, 08/16/2012 - 10:21 | 2710241 redpill
redpill's picture

I don't understand how this piece of shit is allowed to walk the streets.  Oh wait he doesn't, he rides limos and jets, while the people he fucked over are still short their money.

Thu, 08/16/2012 - 10:27 | 2710270 BaBaBouy
BaBaBouy's picture

Easy ... Ombama and Houlder ...

The BUCK stops Right There.

Thu, 08/16/2012 - 10:52 | 2710472 RockyRacoon
RockyRacoon's picture

Don't kid yourself.  The Republican candidates could make great hay from this whole sordid situation -- but they won't.  The reason is that if they obtain the driver's seat they'll have to kiss the same asses.   They certainly don't want to bite the hands that are feeding the beast.   It's a non-starter politically.   Therefore, you can't blame any politician for not pursuing the case.    They are all in the tank for the same sharks.

I gotta stop now -- the mixture of metaphors is giving me a headache.

Thu, 08/16/2012 - 11:09 | 2710573 Nage42
Nage42's picture

So, in the face of clear and complete corruption, where the rule of law has obviously broken down... is there even one man among them?

Some months ago, a desperate greek national appealed to this board saying: "Greece is in the shit" [para.] and most replied... "no one is gonna help you bud, you gotta help yourself..." So, who in yankersville is going to "do the needful!"?

Anyone?  Anyone?  Beuller?  Anyone?

 

Thu, 08/16/2012 - 11:53 | 2710810 eatthebanksters
eatthebanksters's picture

So let me get this straight no law was broken and no one broke the law when money from segregated accounts was used to pay off company obligations?  Did I hear this right?  Someone stole $1.6 billion and is going to get away with it?  WTF?  Either our laws are way too fucked up (I don't think they are) or there is some fucked up shit going on...I hope someone has the nuts to take this fucker down. 

Thu, 08/16/2012 - 13:13 | 2711111 MarsInScorpio
MarsInScorpio's picture

Eat:

 

They won't.

 

You are talking about a complete criminalization of our society.

 

I have to admit, it is truly unbelievable, but obviously you have to believe it anyway.

 

"Amen. Come Lord Jesus."

 

After this validation of all you ever believed about the complete takeover by the criminal class, does anyone out there have a more likely way for things to change?

-30-

Thu, 08/16/2012 - 14:07 | 2711359 DaveyJones
DaveyJones's picture

As part of the pre-prosecution deal, Corzine agreed to provide testimony that Assange tried to rape him

Fri, 08/17/2012 - 06:58 | 2713529 tonyw
tonyw's picture

Yeah, but they only "allowed the money to disappear", NO it didn't disappear every cent an be accounted for.

The laws are only fucked up for Joe Public, they make perfect sense for the big corps that write them and have the politicians in their pockets.

Fri, 08/17/2012 - 05:02 | 2713465 macbone
macbone's picture

Why is he even still alive?

Thu, 08/16/2012 - 10:23 | 2710254 FEDbuster
FEDbuster's picture

Related the latest interview with Ann Barnhardt on WROL financial markets:

http://www.youtube.com/watch?feature=player_embedded&v=GwKGNO59pqA

Thu, 08/16/2012 - 10:26 | 2710278 WillyGroper
WillyGroper's picture

Do you mean "with liberty, injustice for all?"

Thu, 08/16/2012 - 10:37 | 2710370 azzhatter
azzhatter's picture

for y'all

Thu, 08/16/2012 - 11:04 | 2710125 Stackers
Stackers's picture

As CEO of the company isnt Corzine responsible for gross negligence due to his "pourous risk managment" that was obviously so "pourous" as to be non-exisitant ???

Thu, 08/16/2012 - 09:56 | 2709967 101 years and c...
101 years and counting's picture

i wonder if InTrade will set a line of how long it takes for corzine to vaporize these funds?  i think the early money would bet +/- 13 months.

Thu, 08/16/2012 - 09:57 | 2709986 eclectic syncretist
eclectic syncretist's picture

Is it true that JPM is going to invest the exact amount that they stole from MF Global?

Thu, 08/16/2012 - 10:55 | 2710498 metastar
metastar's picture

I suspect he will investments in private prisons for muppets.

Thu, 08/16/2012 - 10:30 | 2710307 Davalicious
Davalicious's picture

In other news, the "Batman killer" is the son of the chief scientist testifying at the LIBOR senate hearing (or perhaps not).

Some people get this site coming up as spam. Just google someone else's copy of the information.

http://www.helpfreetheearth.com/news617_batmanwhohow.html

Thu, 08/16/2012 - 09:35 | 2709854 camaro68ss
camaro68ss's picture

sign my up!

Thu, 08/16/2012 - 09:35 | 2709859 dannyboy
dannyboy's picture

I'd put money on people being that fucking retarded to give this shitball money to steal. Tiz how dem muppets operate.

Thu, 08/16/2012 - 09:35 | 2709860 BaBaBouy
BaBaBouy's picture

... United States Of Corruption ...

Thu, 08/16/2012 - 10:36 | 2709974 Daily Bail
Daily Bail's picture

I apologize for posting links to 2 of my stories below, but goddmanit, putting Corzine in jail ought to be a campaign issue for this Fall.

The corruption is there at DOJ for everyone to see, and yet nothing happens.

Considering that Obama and Romney are more or less the SAME dolt, some might pull the lever for Mittens if it meant Corzine would be prosecuted.

This link has all the evidence, straight from the lips of Obama, Biden and Corzine himself.

The REAL REASONS Jon Corzine won't be going to prison

And then there's this bit of inconvenient truth:

Eric Holder Was Partner In Firm That Represented MF Global

Sat, 08/18/2012 - 08:47 | 2710374 LMAOLORI
LMAOLORI's picture

 

 

I agree it should be a campaign issue but even if it isn't with this level of corruption by obama and his justice department that in itself should be enough to vote  him out. 

Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown

Thu, 08/16/2012 - 10:47 | 2710452 chunga
chunga's picture

Thanks Daily Bail.

It's a great site for those unfamiliar.

Thu, 08/16/2012 - 09:38 | 2709879 insanelysane
insanelysane's picture

He'll probably get some start up money from the government in an effort to create more Green jobs.  Our green for his pockets.

Thu, 08/16/2012 - 09:39 | 2709886 fonzannoon
fonzannoon's picture

Can we at least get a list of Corzine's holdings when he does this so we can short the shit out of them? Playing the flip side of his trades is like a 3x leveraged play off the opposite of Goldman. Thats how bad he sucks.

Thu, 08/16/2012 - 09:54 | 2709941 phalfa5
phalfa5's picture

The muppetts will be fleeced, the insiders will make out like bandits ...   again... still.  And without fear of prostitution ,  uhhh  prosecution.

Thu, 08/16/2012 - 09:57 | 2709992 yrad
yrad's picture

WHERE IS JON CORZINE?!?!

 

oh, there he is....

Thu, 08/16/2012 - 10:08 | 2710100 Turin Turambar
Turin Turambar's picture

Muppet Fleecing Global - Is it really Corzine's fault if people don't do their due dilligence and find out what the company's acronym stands for?

Thu, 08/16/2012 - 10:29 | 2710182 LMAOLORI
LMAOLORI's picture

 

 

"Aziz Says it all about our disgusting society — no charges filed against Corzine for stealing from clients (and he can even start a hedge fund!)"

It says more about our CORRUPT politicians then our society

 

 

Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown

 

 

Ann Barnhard's warning...

RED ALERT: IT'S OPEN SEASON ON ALL CUSTOMER FUNDS

Snippet..

What this means is that even if Jon Corzine is somehow dragged into court by private citizens, because you know damn good and well that the Justice Department will never, ever touch him, Corzine now has a legal precedent, likely from a bribed or otherwise coerced Federal Appeals Court, explicitly stating that an FCM can use customer deposits to pay its debts, and that the customers themselves are subjugated and have basically no legal right to their own monies, no matter what the law says, or what legal assurances, claims or guarantees are made to that customer about their funds held with an FCM or any other brokerage or depository institution. The "secured" party at the front of the line will always be the mega-bank who made the fraudulent loan using the stolen customer funds as collateral.

In other words, all customer funds in the United States are now the legal property of JP Morgan, Goldman Sachs, BNYM, or whichever megabank is the counterparty on the loans the FCM or depository institution takes out in order to fund its mega-levered proprietary in-house trading desks.

For the love of God, I don't know what more there could possibly be to say to snap you people out of your normalcy bias trance. You have GOT to get ALL MONIES out of the financial system NOW. This ruling sets precedence for every depository institution, not just futures brokerages. It is now legal in the United States for any financial institution to steal customer funds, borrow money against those funds for the uber-levered proprietary trading use of the financial institution, and the customers have ZERO CLAIM TO THEIR OWN FUNDS once they are in the custody of the financial institution.

The court has ruled that once your money passes out of your PHYSICAL POSSESSION, and I mean PHYSICAL possession, it is no longer yours, and you have no legal claim or legal recourse to it when it is stolen. This includes BANK ACCOUNTS. Money in a bank is in the possession of the BANK, not you. Do you comprehend this? The entire system is utterly devoid of any integrity or genuine security and is breaking down catastophically before our very eyes. You HAVE to comprehend that your money sitting in an account is no longer legally yours. You have to force your brain to process and comprehend this, no matter how incomprehensible it may seem. IT IS OVER. This is Marxist hell. We have arrived.

This ruling and precedent will be used by every brokerage, every bank, every insurance company and every pension fund to deny you your money when the financial system finally collapses, be it on Monday, or be it two years from now.

DO YOU UNDERSTAND?

You have GOT to GET OUT.

And all of this goes straight back to the criminal mafia that is the National Futures Association, and the fact that they have not actually been auditing those firms who were in the "cosa nostra", and allowing Ponzi schemes to operate with full bureaucratic protection for decades. Sentinel. PFG Best. The legal precedent enabling this protection racket and blatant fraud and thievery is fully in force, and what Corzine did at MF Global is now legally PROTECTED.

in full

http://barnhardt.biz/

 

Karl agree's

http://market-ticker.org/akcs-www?post=210250

Thu, 08/16/2012 - 10:19 | 2710218 bigwavedave
bigwavedave's picture

Greed is still GOOD.

Anyone who thinks otherwise is deluded.

Thu, 08/16/2012 - 11:36 | 2710719 willyt2
willyt2's picture

What a total crock of shit this is. He is blatantly ALLOWED to steal money from people wthtout any consequences. He has his head so far up Obama's ass and is now being protected for being the biggest thief since the dirty 30's. He's no better than Bugsy Malone, Al Capone, Lucky Luciano and so on and so on. Their letting this guy just simply steal.

How disheartening is this to all the people who trust in our fincanial system, or furthermore to the people who lost all theri money. Oh yeah I forgot they don't mean anything individually, colectively they are a huge payday for the big guys.

 In my humble opinion our financial system / society is FUBAR. Not likely to get any better in the future either if Obama/Romney get eleceted. We might as well kiss all of our hard earned savings good-bye and get ready to become a third world country. The manipulation of Wall Street &  PM's, where does it leave us all? It's all so fucked up unbelievable!!!!!!!!!!!!!

 

Thu, 08/16/2012 - 09:32 | 2709839 Boilermaker
Boilermaker's picture

SURPRISE!!!!

Thu, 08/16/2012 - 09:32 | 2709840 lizzy36
lizzy36's picture

Corzined LP.

2/20 value added.......and its gone.

Thu, 08/16/2012 - 09:33 | 2709842 BaBaBouy
BaBaBouy's picture

He's Fucking SUPERMAN !!!

Thu, 08/16/2012 - 09:39 | 2709885 A Man without Q...
A Man without Qualities's picture

He must be fucking someone powerful to get away with all this shit...

Thu, 08/16/2012 - 09:41 | 2709895 Joe Davola
Joe Davola's picture

More powerful than Superman?

Thu, 08/16/2012 - 09:42 | 2709898 surf0766
surf0766's picture

Who was MF's attorney before the collapse? 

Thu, 08/16/2012 - 10:06 | 2710083 Vaiman
Vaiman's picture

And someone powerful is screwing everyone else

Thu, 08/16/2012 - 10:18 | 2710201 BeetleBailey
BeetleBailey's picture

Jon Cuntzine is too "public" Plus, he knows where all the bodies are buried a.k.a. CONgressional acts of criminal fucking mischief....(SEE: Mark Foley for starters..........looooong list to add). This shit-eater goes down, others will too. Insurance by mass corruption.

I pray nightly that the turd's heart explodes inside his lying chest, and/or a parasite bites his ass and body parts start falling off the man.

Cuntzine.....your pussy STANKS

Thu, 08/16/2012 - 11:38 | 2710736 willyt2
willyt2's picture

LMAO DITTO!!!

Thu, 08/16/2012 - 11:18 | 2710267 LMAOLORI
LMAOLORI's picture

 

 

He is obama

flashback

 

At his news conference today, however, Fed Chairman Ben Bernanke insisted the Fed was not the supervisor of MF Global and had never given the firm a “seal of approval.”

But a “seal of approval” for Corzine had come from Obama.

The New York Times reports that President Obama’s first major re-election fund-raiser in New York was held at Corzine’s Manhattan home, with tickets going for $35,800 each.

Adding some detail, the news website northnewjersey.com reported that the private 60-person event reportedly raised $2 million for Obama and that Corzine and MF Global associates Bradley Abelow and Joseph Patt then gave separate contributions of $35,800 each to Obama Victory Fund 2012. Corzine “was one of the president’s most elite bundlers, supporters who tap friends and business associates to bring in checks,” The New York Times reported. The article said that he personally had helped Obama raise more than $500,000 this year.

It added that “When White House officials sought to broker a meeting between disgruntled Wall Street executives and Mr. Obama’s new chief of staff this year, they turned to Mr. Corzine, who organized a sit-down at the Four Seasons. Mr. Corzine was on the list. There had even been talk of his being named the next Treasury secretary.”

In addition to the $38,500 to the Obama Victory Fund 2012, Federal Election Commission (FEC) records show Corzine made personal contributions of $5,000 to Obama for America on May 19 and $25,000 to the Democratic Congressional Campaign Committee on September 28 of this year.

http://www.aim.org/aim-column/george-soros-trader-involved-in-bankrupt-firm-tied-to-obama/

 

 


Joe Biden calls Jon Corzine for Advice Again

http://www.youtube.com/watch?v=buRO9TSlSc
Q

 

Thu, 08/16/2012 - 13:27 | 2711165 MarsInScorpio
MarsInScorpio's picture

A Man:

 

Yeah . . . Michelle.

-30-

Thu, 08/16/2012 - 09:34 | 2709848 Meesohaawnee
Meesohaawnee's picture

thats what raising 500k for obama will get ya. A lawless country we live in.

Thu, 08/16/2012 - 09:34 | 2709849 CunnyFunt
CunnyFunt's picture

An ETF with a symbol VAPR would be fitting.

Thu, 08/16/2012 - 09:47 | 2709915 Gazooks
Gazooks's picture

...he better get fitted with KVLR

Thu, 08/16/2012 - 09:49 | 2709928 GMadScientist
GMadScientist's picture

THVS

Thu, 08/16/2012 - 09:50 | 2709932 CunnyFunt
CunnyFunt's picture

His allocation in TFLN is good enough for me.

Thu, 08/16/2012 - 10:38 | 2710385 WillyGroper
WillyGroper's picture

MFKR

Thu, 08/16/2012 - 09:34 | 2709850 buzzsaw99
buzzsaw99's picture

Calpers and Fidelity can't wait.

Thu, 08/16/2012 - 09:52 | 2709851 Seize Mars
Seize Mars's picture

We are annoyed.

 

 

Thu, 08/16/2012 - 09:34 | 2709853 insanelysane
insanelysane's picture

and Martha Stewart did time

Thu, 08/16/2012 - 10:11 | 2710095 Stackers
Stackers's picture

Martha didnt do time for insider trading. Martha did time for lieing about it to investigators. It's ok to cheat and steal, just make sure you dont get caught lieing when asked and that your campaign contributions are up to date

Thu, 08/16/2012 - 10:19 | 2710212 BeetleBailey
BeetleBailey's picture

100% percent correct Stackers.....most people never get that.

Thu, 08/16/2012 - 10:21 | 2710240 bigwavedave
bigwavedave's picture

Hooah

Thu, 08/16/2012 - 14:17 | 2711430 Alasdair
Alasdair's picture

Not getting caught lying isn't the issue.  Dimon?  How long of a list should we produce?  No, it's the second part you mentioned....

Thu, 08/16/2012 - 09:35 | 2709856 H3NPHLO
Thu, 08/16/2012 - 09:35 | 2709861 101 years and c...
101 years and counting's picture

where do i sign up?  i'd love to my money corzined by corzine after corzine just corzined 1.2B in customer funds only a few months ago. 

Thu, 08/16/2012 - 09:36 | 2709868 Meesohaawnee
Meesohaawnee's picture

better idea.. why doesnt bubblevision hire him .. we can have blodget, cramer, corzine. The trifecta!

Thu, 08/16/2012 - 09:37 | 2709870 Chrome Child
Chrome Child's picture

How could you not want to put your money into this guy's hands?

</sarcasm>

The textbook definition of insanity is starting to run through my mind all of a sudden.

In other news, a drunk driver who killed 3 people by drilling them whilst wasted, is opening up a class on "How to pay closer attention while driving drunk".

Thu, 08/16/2012 - 09:38 | 2709871 Cognitive Dissonance
Cognitive Dissonance's picture

Jon,

I'm a qualified investor Muppet. I want in so where do I send my $500k?

<And do I get a toaster with that deposit or just toasted?>

Thu, 08/16/2012 - 09:39 | 2709883 SeverinSlade
SeverinSlade's picture

JPM has already debited 500K from your Chase account.  And no, you don't get a toaster.

Thu, 08/16/2012 - 09:41 | 2709894 insanelysane
insanelysane's picture

JPM paid Corzine a commission on the MFG funds.

Thu, 08/16/2012 - 10:42 | 2710407 LMAOLORI
LMAOLORI's picture

 

 

"insanelysane JPM paid Corzine a commission on the MFG funds."

President Obama's favorite banker

 

Flashback

Barack’s Wall Street Problem is Now America’s

Thu, 08/16/2012 - 10:00 | 2710025 optimator
optimator's picture

Don't leave it in money market funds too long!

Thu, 08/16/2012 - 11:06 | 2710559 LMAOLORI
LMAOLORI's picture

 

 

"optimator Don't leave it in money market funds too long!"

Good advice if you read Ann Barnhard's piece your money doesn't appear to be safe anywhere in our financial system but the money market's had a problem in 08 and it looks like it could happen again.

Breaking a Buck, Maybe, but Not Taxpayers’ Backs

snip..

MARK Aug. 29 on your calendar. It’s the day all of us could end up on the hook for a big future bailout.

The Securities and Exchange Commission is expected to vote that day on a proposal that would limit taxpayers’ exposure to the $2.6 trillion world of money market mutual funds. The plan would reduce the odds of having to rescue teetering funds when the next financial crisis comes — and it will.

Money market funds are a huge cog in the nation’s financial machinery. Many people think that these funds are as safe as federally insured bank deposits. In most cases, they aren’t. But then, in the dark days of 2008, a run on one fund, Reserve Primary, reverberated in the industry.

more

http://www.nytimes.com/2012/08/12/business/sec-vote-is-near-on-money-market-fund-plan-fair-game.html?_r=2

RPT-Fed's Dudley urges reform for money market funds

Money Market Funds Can Lose Money, Just NotYour Money?

Thu, 08/16/2012 - 21:55 | 2712976 StychoKiller
StychoKiller's picture

Spiderman towelz are the latest rage...

Thu, 08/16/2012 - 09:38 | 2709876 Itch
Itch's picture

Hey John, just a quick question... when are you going to die? I have my shovel ready, im going to dig a hole and personally hand you over to satan myself you demented cunt.

Thu, 08/16/2012 - 09:49 | 2709927 GMadScientist
GMadScientist's picture

Keep digging!

Thu, 08/16/2012 - 09:53 | 2709949 Ayn NY
Ayn NY's picture

Make sure you salt the ground.

Thu, 08/16/2012 - 10:08 | 2710091 Colombian Gringo
Colombian Gringo's picture

Satan does not want Corzine. There is no soul to steal and the Devil hates competition.

Thu, 08/16/2012 - 09:38 | 2709877 Jim B
Jim B's picture

Total joke!  The politicians grandstand about needing more regulations to humor the masses, but the system will not enforce the existing laws! 

Jail Corzine! 

Thu, 08/16/2012 - 09:56 | 2709976 Ayn NY
Ayn NY's picture

And those regulations make it almost impossible for new companies to start up, so they have the government in their pockets so they won't have to face free market competition - or jail.

Thu, 08/16/2012 - 09:38 | 2709878 WALLST8MY8BALL
WALLST8MY8BALL's picture

Has anyone here, seen our old fiend John?
Can you tell us where he's gone?
You know, he fleeced alot of people

But it seems the bad guy won

Just looked around and the money's gone

 

 

Thu, 08/16/2012 - 09:39 | 2709884 WillyGroper
WillyGroper's picture

Hoboken---Too bad hat pin Dolly didn't get him b4 he could inflict such damage. 

Thu, 08/16/2012 - 09:40 | 2709889 Redhawk Alaskan 454
Redhawk Alaskan 454's picture

Seriously, he needs to have a bullet lobotomy.

Thu, 08/16/2012 - 09:43 | 2709890 Dr. Engali
Dr. Engali's picture

This is just incredible! I never in my life time thought I would see such blatant corruption. I've seen some pretty crappy stuff over the years but it is growing beyond anything I can imagine. And a big FUCK you to the republicans for not speaking up! You're showing the world that you are just as corrupt as the rest!

Thu, 08/16/2012 - 09:41 | 2709896 Seize Mars
Seize Mars's picture

...and these people want to be in charge of the medical industry

Thu, 08/16/2012 - 09:44 | 2709903 Watauga
Watauga's picture

Private Interests: Anyone who invests with him deserves what he gets.

Public Interest: If the State and Federal governments fail to bring the core MF Global leadership--most importantly Corzine--to trial, all bets are off.  This was an opportunity for the Rule of Law to prevail (as it did NOT do following the 2008 debacle).  If the Rule of Law fails here, why should it prevail wrt your traffic ticket, or John Smith's murder charge, or Bill Johnson's burglary charge?  People of every stripe will simply stop caring about what the law says and what the law tries to enforce--at all levels.  I fear for the cops who stop the carry-permit driver who is fed up.  I fear for the banker whose bank forecloses on a guy's farm.  I fear for my children as they walk down the stinking streets.  All bets are off folks, when criminals like Corzine are allowed to walk free after such obvious crimes against so many people and against society.  Ugly, ugly, ugly--that is where we clearly are headed.

 

Thu, 08/16/2012 - 10:03 | 2710051 moriarty
moriarty's picture

My fears too & I'm the other side of the Atlantic.

Thu, 08/16/2012 - 12:23 | 2710932 jtg
jtg's picture

We are already there.

Thu, 08/16/2012 - 09:44 | 2709905 Getting Old Sucks
Getting Old Sucks's picture

WTF?

Thu, 08/16/2012 - 09:45 | 2709909 caimen garou
caimen garou's picture

and another one of the 2000 reasons to pull money out of the markets!

Thu, 08/16/2012 - 09:46 | 2709912 Scalaris
Scalaris's picture

Well it'd be a shame to waste all that, already established, brand equity for the sake of some legal justice and other various semantics.

 

Corzine Capital - Where principal return is just a binary bet

Thu, 08/16/2012 - 09:46 | 2709913 The Axe
The Axe's picture

JP MOrgan will back him....ha ha

Thu, 08/16/2012 - 09:46 | 2709914 Meesohaawnee
Meesohaawnee's picture

gs and corzine all off the hook in one week. Good thing hopey changey got a lid on all this corruption like he said he would .. but you see thats my theory on the melt up. Thats wall streets favor to obummer for not putting one pair of handcuffs on any of these clowns.

Thu, 08/16/2012 - 09:47 | 2709916 Brother Sebastian
Brother Sebastian's picture

They can't prosecute or jail the bastard because he has "dirt" on everyone.  Imagine if he talked?  They can't execute him, even accidentally, because they know that even in death the "dirt" will hit the street in one fashion or another.  So they figure it's easier to embrace him and make money.  Thick as thieves.

Thu, 08/16/2012 - 09:48 | 2709917 GMadScientist
GMadScientist's picture

Okay, Jonny, we pulled your ass outta the fire, but now you owe us a few favors...

How much money could a corrupt asshole launder, if a corrupt asshole could launder money?

Thu, 08/16/2012 - 09:48 | 2709921 time2blowitup
time2blowitup's picture

What's he going to name the fund? And where do I send my check?!

Thu, 08/16/2012 - 09:51 | 2709938 caimen garou
caimen garou's picture

corzine your bung hole for your money fund!

Thu, 08/16/2012 - 09:48 | 2709922 asteroids
asteroids's picture

He will forever be looking over his shoulder. I wonder how many farmers he has bankrupted. Those folks have guns and a lot of them are crack shots!

Thu, 08/16/2012 - 09:57 | 2709979 Ace Ventura
Ace Ventura's picture

I can only hope you're right. It also sucks that I find myself hoping for such dark things, but I don't see any other means of stopping these vile slime-slurping vermin from their wanton thievery and corruption.

They will NOT stop.....until they are PHYSICALLY stopped.

Thu, 08/16/2012 - 12:21 | 2710921 jtg
jtg's picture

I will honor the ripped-off small businessman or investor decides to take justice in his own hands.

Thu, 08/16/2012 - 09:50 | 2709936 Shizzmoney
Shizzmoney's picture

Between this and Jaime Dimon possibly becoming our next Treasury Secretary........my head is going to fucking explode.

I mean, they don't care anymore.  They just do not fucking care.

Thu, 08/16/2012 - 10:45 | 2710439 WillyGroper
WillyGroper's picture

>>>>>>>I mean, they don't care anymore.

IMO, they never did. Just lip service.

Thu, 08/16/2012 - 09:53 | 2709940 Dr. Engali
Dr. Engali's picture

Where in the hell is our other candidate of our two official choices on this matter? Why aren't you speaking up Mittens? Why aren't you outraged? Because you are one of them that's why! Sorry fellow HedgersI'm a little pissed! I'm watching our country be destroyed and nobody is doing a damn thing except arguing about who is better..red or blue.

Thu, 08/16/2012 - 10:00 | 2710024 Vlad Tepid
Vlad Tepid's picture

But I thought all we needed to know was that four legs are gooooood and two legs are baaaaaad.

Thu, 08/16/2012 - 09:55 | 2709953 Dr. Gonzo
Dr. Gonzo's picture

If I knew that no laws applied to me and could steal money with impunity I would too. Time is a wasting for him. He's already lost 10 months of stealing from his prior scandal. I just hope he's used this time to figure out newer ways to trick muppets because some still remember and may not give any willingly. Maybe he can just skip the con game this time and go straight into computer hacking into their bank accounts. Obama and Holder wouldn't care.

Thu, 08/16/2012 - 10:02 | 2710047 Ayn NY
Ayn NY's picture

I wouldn't. Ethics are the most important thing a person can have. I don't want the government stealing your money on my behalf and I wouldn't do it myself either.

Thu, 08/16/2012 - 10:18 | 2710204 LawsofPhysics
LawsofPhysics's picture

Correct, the only insurance any of us have can be found in the integrity of those we associate with.  Well that and diversifying your PM portfolio with some lead and brass.

Thu, 08/16/2012 - 09:55 | 2709954 El
El's picture

That's just wrong.

Thu, 08/16/2012 - 09:55 | 2709955 centerline
centerline's picture

Maybe I am just really slow - but it just occured to me that AIG could be "And It's Gone!"

I know... just catching up.

 

Thu, 08/16/2012 - 09:55 | 2709957 falak pema
falak pema's picture

before they throw you into the cauldron of investigation for criminal corruption jump into the fire of a money market hedge fund. 

That is smart thinking; what's in the king Media Frontpage is soooo difficult to chop down in the courtroom back yard! 

Imagine the pressure on the judge; are you going to put behind bars our new John Galt, who may just help us get out of this huge frikking mess?  He is the best and brightest of the squid bunch....etc. etc. etc. 

BI will have an article on him EVERYDAY, to keep him in the spotlight. Game over. 

Thu, 08/16/2012 - 09:55 | 2709962 Poetic injustice
Poetic injustice's picture

I think a good idea is to call it "Hitler did nothing wrong", if some soft drinks company does not protest against violating their intellectual property.

Thu, 08/16/2012 - 09:55 | 2709965 Barometer
Barometer's picture

Too big to jail

Thu, 08/16/2012 - 09:58 | 2709970 Vlad Tepid
Vlad Tepid's picture

What kind of an idiot would trust him with funds ever again??

Edit:  And as an aside, I'm going to start carrying a hangin' rope around with me everywhere I go to make sure that this guys gets his comeuppance.

Thu, 08/16/2012 - 10:00 | 2710004 El Hosel
El Hosel's picture

The Freak Show takes it to the next level, and the next and the next...... The sheep sleep. Wake up and smell the treason.

Thu, 08/16/2012 - 09:57 | 2709981 CatoRenasci
CatoRenasci's picture

Truly astonishing. Expected, but the sheer brazeness of the whole thing is staggering - the man oversaw the theft of hundreds of millions from supposedly segregated accounts and he walks.  Pitchforks! Tar! Feathers!

Thu, 08/16/2012 - 09:58 | 2709999 ak_khanna
ak_khanna's picture

We currently exist in a financial framework where the rich and the well connected reap the profits when their business is doing well. If they do end up making a loss while taking excessive risks, lending money to those who cannot pay back or pawning risky investments in the form of derivatives to their clients, their friends, the elected politicians are always there to bail them out with tax payers funds and even if that is not sufficient they can always borrow more. The debts taken in the name of the country will have to be borne by the rest of the population in the form of higher taxes and austerity measures.

http://www.marketoracle.co.uk/Article35345.html www.letstalkmoney2012.in

Thu, 08/16/2012 - 10:14 | 2710169 LawsofPhysics
LawsofPhysics's picture

Fascsim bitchez, now what is anyone going to actually do about it.

Thu, 08/16/2012 - 09:59 | 2710008 azengrcat
azengrcat's picture

Only in America!  Teflon Don wins again.

Thu, 08/16/2012 - 10:00 | 2710026 Meesohaawnee
Meesohaawnee's picture

and then we wonder why the chinese cant get out of US markets fast enough. . duh!

Thu, 08/16/2012 - 10:01 | 2710035 Meesohaawnee
Meesohaawnee's picture

-7 philly fed. OMG SPY 1500 a lock now. Buy buy buy. better than expected!

Thu, 08/16/2012 - 10:02 | 2710046 yogibear
yogibear's picture

LOL, Wall Street just raised the middle finger to the muppets when the little people asked for justice.

See, fraud does pay. Only the muppets go to jail when they break the rules.

The little people sign the code of conduct. At the top there is no code of conduct.

Thu, 08/16/2012 - 10:05 | 2710068 Zola
Zola's picture

What you guys dont understand is about the people giving CORZINE money is it is NOT THEIR MONEY- they dont CARE!! Asset management allocations is VERY POLITICAL.

Thu, 08/16/2012 - 10:05 | 2710074 Dineroguru
Dineroguru's picture

He was just early on that Italian bond trade...not wrong just early

 

Thu, 08/16/2012 - 10:27 | 2710288 bigwavedave
bigwavedave's picture

Yep. There has been a bunch of early or off-side trades that blew up. LTCM were NOT wrong. Cooper & Neff were NOT wrong. Even the most famous blow ups got hit by an 'event' like Nick Leeson. He was NOT wrong. Just early and leveraged beyond his vol model. Simple

Thu, 08/16/2012 - 10:06 | 2710085 Little John
Little John's picture

Well Hell, at least we'll have some stories to tell our grand kids about how we were privilegded to be around when it all went down.  This is history. Damn it.

Thu, 08/16/2012 - 10:08 | 2710086 the not so migh...
the not so mighty maximiza's picture

He could bring down others with him.  He must have some good dirt about others.  This is not a confidence builder though.

Thu, 08/16/2012 - 13:12 | 2710093 Yellowhoard
Yellowhoard's picture

I'm waiting for the other shoe to drop.

Usually when the NYT drops an embarrassing political bomb like this, they do it on a day when something terrible is about to happen.

Remember when Jamie announced way bigger whale losses than originally announced? We got Roberts rewrite of The ObamaCare decision.

My gut tells me something big is going to happen today.

Thu, 08/16/2012 - 10:11 | 2710102 _ConanTheLibert...
_ConanTheLibertarian_'s picture

You can't make this up. Truth is stranger than fiction etc.

Thu, 08/16/2012 - 10:10 | 2710117 giggler123
giggler123's picture

There's an old saying in Tennessee—I know it's in Texas, probably in Tennessee—that says, 'Fool me once, shame on, shame on you. Fool me -- you can't get fooled again

Thu, 08/16/2012 - 10:21 | 2710238 tiwimon
tiwimon's picture

I'm a firm believer after seeing all that has happened that if you do not possess it, its not yours

For those that believe their money, their investments in stocks, bonds, futures, paper preciosu metals, 401k, IRA's, anything held by some financial company is locked away and safe, your a fool, you've seen whats happening, yet you are complacent and expect you to get away scott free with your money - nope you are a victim in waiting.

For those that continue to want to play in the same game as these folks - I say good luck with that. I honestly do, I wish all well, but as for me and mine - I'm not playing a rigged game and refuse to play with cheaters, liars, frauds and villains, I will take what little I have and stay out of the firing line

 

Thu, 08/16/2012 - 10:24 | 2710258 Seasmoke
Seasmoke's picture

the guy has been a failure everywhere he has gone......this time i think things will be different......count me in Jon !

Thu, 08/16/2012 - 10:24 | 2710265 Dr. Gonzo
Dr. Gonzo's picture

Let's get serious. Nobody is going to give this fucker a dime...Not even muppets because even they remember who he is. Everyone in the world knows that trusting this guy with your money is flushing it down the toilete. Let him try to run a hedge fund. It will flop.

Thu, 08/16/2012 - 10:25 | 2710275 lizzy36
lizzy36's picture

Corzine to redefine HF industry with new 0/100 fee structure. 

h/t@csicsko

Thu, 08/16/2012 - 10:30 | 2710314 Munkey
Munkey's picture

Forget it Marge, it's Chinatown!

Thu, 08/16/2012 - 10:33 | 2710334 jumbo maverick
jumbo maverick's picture

Look at the picture attached to this story. Which of the two in the picture is more corrupt? Never mind football season a starting soon.

Thu, 08/16/2012 - 10:36 | 2710358 azzhatter
azzhatter's picture

Utter fucking lawless country for banksters

Thu, 08/16/2012 - 10:37 | 2710376 digalert
digalert's picture

This tells me there may be truth to the coming MASS ARREST of the cabal.

Thu, 08/16/2012 - 10:46 | 2710445 Never One Roach
Never One Roach's picture

"Blessed are the meek, for they shall inherit...."

 

you fill in the rest....

Thu, 08/16/2012 - 10:46 | 2710446 gavroche76
gavroche76's picture

At least, they could have find a young french men to take the blame...

Thu, 08/16/2012 - 10:46 | 2710447 WP45
WP45's picture

Spelled Prosecution wrong...

 

Thu, 08/16/2012 - 11:14 | 2710597 Money 4 Nothing
Money 4 Nothing's picture

Prostitution.. there, fixed.

Thu, 08/16/2012 - 10:49 | 2710465 resurger
resurger's picture

This is out of CONTROL! Seriously

Thu, 08/16/2012 - 10:54 | 2710475 chinaboy
chinaboy's picture

Just highlight whats wrong with America: The worst downside for  the murder in Colorado is to plead insanity; the worst downside for Mr. Corzine is to lose more "investors"'s money. Actually, no worst for Corzine, just worse. Going to be worse and worse.

Thu, 08/16/2012 - 11:07 | 2710562 Eric L. Prentis
Eric L. Prentis's picture

Jon Corzine’s chutzpah is beyond reason.

Thu, 08/16/2012 - 12:46 | 2711014 Robot Traders Mom
Robot Traders Mom's picture

You know who really, really doesn't like Jon Corzine? www.TopTheNews.com *

 

*Shameless plug, keep spreading the word and truth! :)

 

 

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