MF Global Client Theft Estimate Doubled To $1.5 Billion?

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Wed, 11/02/2011 - 16:14 | 1838412 TruthInSunshine
TruthInSunshine's picture

Michael Clayton is in Corzine's kitchen as we read this.

Wed, 11/02/2011 - 16:16 | 1838420 gangland
gangland's picture


more like barry's shug knight...aka..otherwise known as joe yamookaah biden

Wed, 11/02/2011 - 16:20 | 1838445 Western
Western's picture

This whole situation makes me sick to my stomach, and I'm sure as fuck glad I'm not a current/former/ever MF customer. Just trying to empathize with the victims.


I often fantasize about shooting people like John Corzine in the head. I've never killed anybody, but I probably wouldn't be haunted if I just up and did him in right this minute.

Wed, 11/02/2011 - 16:23 | 1838459 Comay Mierda
Comay Mierda's picture

Corzine would have made a great treasury secretary

Wed, 11/02/2011 - 16:43 | 1838563 topcallingtroll
topcallingtroll's picture

Corzine needs to go to prison and be someone's azz slave just because he is Corzine. I hate the guy. Typical sanctimonious rich democrat.

Wed, 11/02/2011 - 17:50 | 1838738 DoChenRollingBearing
DoChenRollingBearing's picture

Biggest POS on planet Earth.

Wed, 11/02/2011 - 17:59 | 1838862 ZeroHour
ZeroHour's picture

I don't know DoChen, the earth is pretty big and he's competing with quite a few POS's from Washington, NY, etc.

A top ten list can't be created because you can't squeeze several hundred in there.

Wed, 11/02/2011 - 18:21 | 1838933 Fukushima Sam
Fukushima Sam's picture

Aw, common, everything's fine.  What's $1.5 billion between friends?

Wed, 11/02/2011 - 18:35 | 1838973 peekcrackers
peekcrackers's picture

1.5 billion public lashing  for the the theft .. would be a nice start

Wed, 11/02/2011 - 18:37 | 1838977 Careless Whisper
Careless Whisper's picture

Only rogue traders get the perp walk.

Wed, 11/02/2011 - 18:51 | 1839041 BurningFuld
BurningFuld's picture

Plus USGov will cover this. I mean USTaxpayers will cover this. Man....Bamie's got your back Dudes. Don't sweat it.

Wed, 11/02/2011 - 18:58 | 1839064 Don Birnam
Don Birnam's picture

Troll, flawlessly logical and beautiful in its simplicity: Just because he is Corzine.

Two thumbs up. Way up.

Wed, 11/02/2011 - 20:29 | 1839337 Ned Zeppelin
Ned Zeppelin's picture

You're right - he's almost as bad as the typical sanctimonious rich republican. 

Thu, 11/03/2011 - 13:41 | 1842339 inca
inca's picture
Jim Stone visits Occupy LA

Since I was displaced by the recent disaster, and live in Southern California, Occupy Los Angeles ended up being an obvious destination.
I went to Occupy LA with an agenda of uncovering infiltrators into the movement who seek to undermine it, and get the real word out - it is a foregone conclusion that the mainstream media would lie about everything.

I had enormous success with both things,

To start;

The "official" representation for Occupy Los Angeles may have been usurped and appears to be intentionally not getting the word out about what the movement actually stands for. I was invited to join the media team but refused after seeing the media tent, which despite having several Macintosh computers and at least 10 windows based laptops as well as innumerable cameras and a full time broadband connection, had failed to output ANY video in three weeks (as of Oct 24) other than a three minute clip from a flip camcorder. This was discussed during a media meeting which I attended on October 24.

Many media outlets have stated Occupy Los Angeles has no direction. But after being on site for four days, I can clearly state that there is a strong direction and strong demands are being made, demands which get usurped by the powers that be who are on scene and claim to be part of the movement. One pass through that camp will reveal a powerful resolve and message; a message which has been stifled, and I have proof of that here in photos. The demands are:

1. An end to the banker bailouts and an end to centralized PRIVATE banking (Federal Reserve). This is very closely followed by an end to all forms of corporate welfare and "buying" of electoral candidates by corporations.

2. An end to insider trading and favored status being given to investment firms like Goldman Sachs.

3. Media accountability - the movement is well aware of the fact that it is a few families of a particular (small) religious group that owns the media, which during elections especially, and at all other times publishes only information which serves a handful of "elite". They want candidates to represent themselves without the boost provided by media bias, from a fixed money pool drawn from public funds.

4. From this, they hope to accomplish their fourth objective - an honest government that does not go around killing innocent people in foreign nations every time the will of the "elite" banking cabal is not served to it's extreme desire while robbing the people of their taxes and future to fund elite cronies in their financial scams. They do not want world government, this movement clearly sees the value in maintaining national soverignty. They want the old America back.

5. They want an end to the police state, over excessive law enforcement, government snooping in the electronic arena, de-criminalization of victimless activities, such as adding onto a home without a permit, running a generator without a permit, growing food without a permit, as well as the legalization of hemp. They would like to see the end of America's absolutely monstrous prison system which is mostly full of people who never actually did anything other than violate a law or ordinance which bans an activity that never involved anyone other than the individual performing the action. They believe prison should be for theives, rapists and murderers, and that it is impossible to deserve arrest for inaction, or action which involved no one else.

6. They want accountability for ALL corporations producing genetically modified foods, and focus especially on Monsanto. They want labeling of genetically modified foods to be MANDATORY, and an end to genetic modification altogether

There are also many affinity groups, such as animal rights, gay rights, women's rights, openly communist or socialist groups and trade unions, who have little to no representation (single tents) placed in prominent locations, the remaining 95 percent of the movement stands for what is listed above. The site politics/CIA, infighting, ect will be discussed farther down the page. Overall the movement is composed of excellent people who seem to be defeating the odds.

more here

Wed, 11/02/2011 - 16:44 | 1838565 dlmaniac
dlmaniac's picture

"Hmmm... How do I blame it on Bush, Republicans, Tea Party and so forth? Come on my prompter, show me a clue."

Wed, 11/02/2011 - 18:28 | 1838951 sun tzu
sun tzu's picture

Not a peep from CNN, MSNBC, ABC, NBC, CBS or any of the lamestream media except for the financial news outlets. Solyndra has been swept under the rug already. So has fast and furious. Obowow's media lackeys are pathetic and choose to sink with the ship rather than report the news

Wed, 11/02/2011 - 19:06 | 1839094 Don Birnam
Don Birnam's picture

To wit: Mum's the word from former neighbor and just as liberal Democrat, the reprobate Jim Cramer.

But then again, Cramer had nothing to say when his "best buddy and pal" Eliott Spitzer went down ( in both the literal and figurative sense ).

The media fawns may circle the wagons of silence round Corzine, but I do believe he I'll be the one who will be sacrificed upon the scales of justice by his ( former) political the Executive Branch. FBI involvement makes this essentially a foregone conclusion.

There will be a perp walk. And it will be a duesy.

Wed, 11/02/2011 - 22:17 | 1839643 Fox Moulder
Fox Moulder's picture

He still might.

Wed, 11/02/2011 - 23:08 | 1839773 bbbilly1326
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"Corzine would have made a great treasury secretary"


whaddya mean "would have" ..........FIRE GEITHNER




Congress will understand that everyone makes a mistake now and then......a la Turbo Timmy -- he worked out OK right ?

Wed, 11/02/2011 - 16:23 | 1838464 Deadpool
Deadpool's picture

no Freudian confessions, please. There are thought police around, dontchaknow.

Wed, 11/02/2011 - 17:56 | 1838854 CClarity
CClarity's picture

This "Emperor story" just posted in FT on Corzine.  British clever and worth a read.

Wed, 11/02/2011 - 19:20 | 1839133 Big Corked Boots
Big Corked Boots's picture

That there is the funniest shit I've read in months! Thanks for posting1

Wed, 11/02/2011 - 18:51 | 1839034 Abitdodgie
Abitdodgie's picture

America is run by the mob and if you are in the family you do not go to jail , anyway do you really think TPTB give a shit about the people that lost money, they can do WHATEVER they want and nobody is going to stop them so shut up and get back to work so they can spend your tax money and carry on living the life of kings whilst you take a big bite of there shit sandwhich

Thu, 11/03/2011 - 04:23 | 1840004 fajensen
fajensen's picture

If it is rich people's money then "they" do care: Bernie Madoff went to jail. 

Wed, 11/02/2011 - 16:29 | 1838499 fonestar
fonestar's picture

Hard for me to sympathize with these people sometimes.  I wouldn't pay someone to think for me, which is basically what you're doing when you pay a fiduciary or money manager.

Wed, 11/02/2011 - 16:37 | 1838539 TruthInSunshine
TruthInSunshine's picture

OPM is a helliuva drug.

Other People's Money is a hell of a drug


Wed, 11/02/2011 - 17:18 | 1838697 Strider52
Strider52's picture

Doesn't "Corzine" sound like a drug name?

 When is a diet pill worth $130 a bottle? When it works. Introducing Corzine, the FAST weight-loss pill! Side-effects include:

  • Dry mouth, dry skin, dry arteries, dry brain
  • Urinary retention /pissing blood
  • Blurred vision / total blindness
  • Constipation, in some cases causing "full of shit" syndrome
  • Sedation (can interfere with driving or operating machinery, or standing, walking, breathing)
  • Sleep disruption (while thinking of jail)
  • Weight gain (laff)
  • Headache, evolving into massive strokes
  • Nausea, beyond dry heaves
  • Gastrointestinal disturbance/diarrhea/non-stop shitting
  • Abdominal pain (similar to a knife in the intestinal area)
  • Inability to achieve an erection (ever again)
  • Inability to achieve an orgasm (men and women)
  • Loss of libido
  • Agitation
  • Anxiety
  • Early Retirement
  • Instant Death 
Wed, 11/02/2011 - 17:36 | 1838761 MsCreant
MsCreant's picture

Jena below posted a version of Corzine the drug, too.

Wed, 11/02/2011 - 16:39 | 1838548 Freddie
Freddie's picture

Yes and no.  This is a major big deal but post Obama there are no laws.  Yeah it sucked pre-Obama but at least we sort of pretended there were laws.

The system is totally corrupt but when people put money in a brokerage account like this - it is supposed to be separate with a custodian never to be touched or stolen.  Corzine and the whole exec teams should get 30 years in prison.   The "mistake" will be magically fixed. 

Elections have consequences.

Wed, 11/02/2011 - 17:19 | 1838700 ArkansasAngie
ArkansasAngie's picture

There is no such thing as fiduciary responsibility any more.

The fact that these kinds of things are not bringing in the guys with guns and badges is becoming a criminal act in and of itself.

Washington ... if you can't find somebody to go to jail over this then maybe we need to start investigating Washington.

A rope is too good for'em.

And to think my little peon workers get arrested because they don't have proof of insurance.


Wed, 11/02/2011 - 19:36 | 1839181 fattail
fattail's picture

There is no fiduciary responsiblilty to not steal from your customers segregated accounts. 

Wed, 11/02/2011 - 16:51 | 1838590 Freebird
Freebird's picture

Ok Western. Please go & get some help before returning here...honest to god

Wed, 11/02/2011 - 17:00 | 1838635 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Greetings! I'm just back from vaction. I have most of my net worth with MF global...whats this? you're glad you're not a customer; why has something bad happened?

Wed, 11/02/2011 - 17:04 | 1838647 Freebird
Freebird's picture

Yeh, you posted again...asstroll

Wed, 11/02/2011 - 17:09 | 1838665 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture


Wed, 11/02/2011 - 17:30 | 1838734 Freebird
Freebird's picture

Fckg Douchebag. No you cretin no exposure & take cretin as a compliment not an insult. Did you give yourself a green or what? Listen up & listen good - a lot of people take positions in attempt to hedge themselves against outright debasement or perhaps cover themselves in positions taken out a while ago. Is it funny that they could be victims of the latest scam? Do I hear no? Ok. So these people could have been smarter & looked at counterparty risks etc, but is this a reason to laugh at them Psychocunt?  


Wed, 11/02/2011 - 17:33 | 1838742 Long-John-Silver
Long-John-Silver's picture

I often fantasize about shooting people like John Corzine in the head.


After 25 years of Military service I can't even begin to calculate the number of people to which I am directly and/or indirectly involved with the termination of their life. Adding one more would be of no consequence to my current mental condition. I would happily volunteer to be John Corzine's executioner. I would not even wear an executioners head covering if his execution was made a public affair. 

Wed, 11/02/2011 - 17:37 | 1838766 Freebird
Freebird's picture

Have you offered up your services LJS? Amercia could use a new leader? 

Wed, 11/02/2011 - 18:21 | 1838934 russki standart
russki standart's picture

Western, I understand how you feel but killing is a very bad idea. Better to send them to prison, penniless and disgraced, bunking with butt blaster  bubba. 

Wed, 11/02/2011 - 18:34 | 1838968 wisefool
wisefool's picture

Absolutely. It is better to see them rot (caught or not) than let them feel a martyr. The interent record of these folks, including Paul "The face of Enron" Krugman is never going to go away. Let them stew in it.

Wed, 11/02/2011 - 17:00 | 1838636 NewThor
NewThor's picture

If Cozine makes it to a country with a no Extradition policy.

I think that's a strong signal 2012 is less than 2 months away.....


Wed, 11/02/2011 - 17:10 | 1838669 Messianic
Messianic's picture

I thought his nickname was "the villages"

Wed, 11/02/2011 - 16:16 | 1838421 legal eagle
legal eagle's picture

They will fix it, just an accounting error, that whole debit and credit thing is very tricky, just ask any college freshman

Wed, 11/02/2011 - 16:19 | 1838438 Poule Mouillee
Poule Mouillee's picture

Are you thinking that a good German accountant could potentially find 55Billion on the other side of the ledger somewhere?

Wed, 11/02/2011 - 16:21 | 1838453 eurogold
eurogold's picture

Only if he works for Price Waterhouse + Coopers !

Wed, 11/02/2011 - 17:24 | 1838717 Temporalist
Temporalist's picture

It was hidden under the wiener schnitzel he left on the ledger book.

Wed, 11/02/2011 - 16:19 | 1838442 101 years and c...
101 years and counting's picture

not to worry.  the treasury has the clients' backs.  americans will reimburse them for the theft by MF and then let the entire executive team go.  some middle manager going down and going to be raped repeatedly in prison though.

Wed, 11/02/2011 - 16:21 | 1838448 Raskolnikoff
Raskolnikoff's picture

as simple as making a wrong input on turbo tax software.

Wed, 11/02/2011 - 16:25 | 1838475 TruthInSunshine
TruthInSunshine's picture

Someone in accounting forgot to carry the 1.

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