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PFG Head Arrested

Tyler Durden's picture





 

UPDATE: Suicide note details added:

  • *WASENDORF SAID HE USED PHOTOSHOP, SCANNER IN FORGERY, U.S. SAYS
  • *WASENDORF SAID CHOICE WAS GO OUT OF BUSINESS OR CHEAT: U.S.
  • *WASENDORF'S STATEMENTS MADE IN SUICIDE NOTE, PROSECUTORS SAY
  • *PEREGRINE'S WASENDORF SAID `I HAVE COMMITTED FRAUD,' U.S. SAYS

While unable to successfully kill himself, it appears the CEO of PFGBest is even less successful at evading the police. As just reported,

  • *PFGBEST'S WASENDORF ARRESTED IN IOWA
  • *FED PROSECUTORS CHARGE IOWA FIRM CEO  W/ LYING TO REGULATORS:AP
  • *PEREGRINE CHIEF WASENDORF CHARGED BY FEDERAL PROSECUTORS (with making false statements to the CFTC)
  • *WASENDORF FRAUD AT PEREGRINE LASTED 20 YEARS, PROSECUTORS SAY

What is probably more concerning to him now is the fact that he was not a Presidential bundler - as the Big House is definitely calling...

 


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Fri, 07/13/2012 - 13:57 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Where is John Corzine motherfuckers?

Fri, 07/13/2012 - 13:59 | Link to Comment Rainman
Rainman's picture

wherever he is, he grateful for the diversion.

Fri, 07/13/2012 - 14:04 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Corzine is an Obama bundler, and so is immune.

I don't KNOW, but I bet Wasendorf is not.

Fri, 07/13/2012 - 14:16 | Link to Comment iDealMeat
Fri, 07/13/2012 - 14:41 | Link to Comment NotApplicable
NotApplicable's picture

As of the end of the first quarter, Corzine had bundled over $500k.

http://www.weeklystandard.com/blogs/jon-corzine-still-bundling-obama_640...

Second quarter should be released in a week or so if the timing is the same.

Fri, 07/13/2012 - 14:57 | Link to Comment idea_hamster
idea_hamster's picture

The fraud lasted 20 years?

I'm actually more shocked that this dingus needed to forge documents only 5 years after his HUGE 1987 short call win.  What a dork.

Fri, 07/13/2012 - 15:17 | Link to Comment saturn
saturn's picture

When is the whole government arrested and sent to Madoff's for bestowing a ponzi scheme upon whole humankind?

Fri, 07/13/2012 - 15:52 | Link to Comment Pinto Currency
Pinto Currency's picture

 

The regulators are shocked, shocked.

Anyone need PFG's bars?

Get in line.

Sat, 07/14/2012 - 03:18 | Link to Comment eatthebanksters
eatthebanksters's picture

It's pretty clear that Corzine is smarter inat least one way...misleading the authories (an evading arrest)

Sat, 07/14/2012 - 08:23 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I'll take fleeing the authorities for $1000 Alex.

 

When you steal peoples money where do you go?

 

That would be France Alex.....not Iowa.

Fri, 07/13/2012 - 15:11 | Link to Comment Rasna
Rasna's picture

$500K is not even walking around money for these guys.  The Son of a Bitch needs to go down - arrested, indicted, prosecuted and sent to jail.

O promised "Change We Can Believe In", what we're getting is more of the same.

Fri, 07/13/2012 - 14:18 | Link to Comment 101 years and c...
101 years and counting's picture

I would love to be the attorney on this one.  IF JOHN CORZINE IS INNOCENT, SO IS MY CLIENT.

NEXT!

Fri, 07/13/2012 - 14:25 | Link to Comment Spaceman Spiff
Spaceman Spiff's picture

too rational... expect disbarment.  

Sat, 07/14/2012 - 10:22 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I was framed!!!

 

They put me in the lineup and let the bright lights chine.

http://www.youtube.com/watch?v=1uOIjc_ge68

 

Fri, 07/13/2012 - 14:41 | Link to Comment TruthInSunshine
TruthInSunshine's picture

My Fellow Citizens,

While I am relieved to see that very preliminary measures regarding massive, systemic misappropriation of client funds by PFG are underway, we all need to by mindful of the sober fact that much work needs to be done to improve the odds that as full a measure of justice, economic and otherwise, is provided to all clients & victims of PFG.

This preliminary measure should also serve to warn all persons and institutions that may be arrogant enough to believe that they can emulate the actions and behavior of the PFG's of the world and escape justice. They can not & will not be allowed to do so.

As I've stated previously, our systems of economics and justice, which inherently rely on a robust pillar of trust in institutions, can not survive unless those who perpetrate fraud on this scale, obviously fueled by a seemingly unquenchable avarice and greed, are appropriately punished for their reprehensible deeds.

Finally, I would like to specifically acknowledge the outstanding dedication, attention to detail and willingness to pursue all leads and turn over any stone, that Mr. Eric H. Holder, Jr. our esteemed United States Attorney General, has shown yet again.  His campaign to root out and prosecute what can only be desribed as a massive, viral epidemic of Wall Street & financial fraud, that has gone on virtually unchecked for far too long, is a modern testament to the ever vigilant system of justice that serves to protect all of us who always have and who always will "play by the rules."

Sincerely,

The Hon. Jon S. Corzine

Former United States Senator (D-NJ), Former Governor of New Jersey, Former CEO of Goldman Sachs, Former CEO of MF Global (a former Primary Dealer), and prominent Obama Bundler

Fri, 07/13/2012 - 14:42 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

Placeholder

Fri, 07/13/2012 - 15:08 | Link to Comment Rasna
Rasna's picture

Assholder

From the Huffpost blog article:

Where are the indictments?

But there have already been stories -- lots of stories, terrible ones -- about corruption, bribery, perjury, forgery and a dozen different kinds of fraud. There have been stories about laundering money for the Mexican drug cartels, including a new lead that surfaced this week. There's already ample evidence that Wall Street bankers have defrauded cities, deceived investors and cheated their own clients.

Some of the bankers even rewarded themselves in that time-honored tradition of gangsters everywhere: with hookers, blow and orgies.

The problem isn't a shortage of scandalous stories. We've seen a lot of those. What we haven'tseen, at least here in the United States, is a single indictment of a senior Wall Street banker from the United States Department of Justice. And that's what has these political insiders concerned.

Fri, 07/13/2012 - 15:49 | Link to Comment AmCockerSpaniel
AmCockerSpaniel's picture

I lost millions on Lucent (am very short and dumb story that I take full credit for in February ~ April 2000). This is how I wound up in physical Gold & Silver. I'm still waiting for an indictment. What ever may happen, I will never be as close to negative again.

Fri, 07/13/2012 - 14:43 | Link to Comment NotApplicable
NotApplicable's picture

Laws are for the little people. (no, not them, the other little people)

Fri, 07/13/2012 - 14:30 | Link to Comment HardAssets
HardAssets's picture

Wasendorf is too low on the food chain. Doesnt matter which side of the DemoRepublicrat circus you say youre on. If high enough up, you got plenty of dirt on the rest of them - - even if they did want to go after you, and they don't.

They have their eyes on the real source of loot for them. . . the American citizenry. Why screw that up.

Though Wasendorf might make a good poster boy for 'the governments clean up of corruption' however.

Fri, 07/13/2012 - 15:05 | Link to Comment Milestones
Milestones's picture

Guess everyone's reaction was excatl as yours above and probaably below; where is this punk? Notice  How similiar (O'blaH BLAH, Holder and Corizine are?--Like 3 peas in a pod.       Milestones

Fri, 07/13/2012 - 14:04 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I wonder if he is hanging out where Ken Lay is?

Fri, 07/13/2012 - 14:24 | Link to Comment bubbleburster
bubbleburster's picture

He sure ain't shorting Silver.  It remains unchanged today

Fri, 07/13/2012 - 14:17 | Link to Comment HardlyZero
HardlyZero's picture

He did not rehypothecate.

He did not jovially bundle.

He will do time long before JC.

Fri, 07/13/2012 - 14:08 | Link to Comment Wakanda
Wakanda's picture

Iowa?

Fri, 07/13/2012 - 14:42 | Link to Comment Bay of Pigs
Bay of Pigs's picture

He was looking to get picked up in the corn field crop circles by the alien lizards in their spaceships

Fri, 07/13/2012 - 15:07 | Link to Comment Wakanda
Wakanda's picture

Field of dreams in Iowa - I get it now! : )

Sun, 07/15/2012 - 08:29 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Iowa. Last place they would check.....but eventually.....they do.

 

Fri, 07/13/2012 - 15:08 | Link to Comment johnQpublic
johnQpublic's picture

...thereby proving two more conspiracys at once...

Fri, 07/13/2012 - 14:14 | Link to Comment Wakanda
Wakanda's picture

Maybe Inaction Jackson is saving it all up for a huge September Lieborgate RICO party so BO's re election commercials can have orange jumpsuit footage of his "bundlers"?

Nah...

Fri, 07/13/2012 - 14:27 | Link to Comment cougar_w
cougar_w's picture

What the hell, he just might. Wouldn't that be a hoot. Like how Hitler had his early supporters arrested for criminal activity, creating the Brown Shirts for the task. If I recall my Third Reich history at all correctly.

Fri, 07/13/2012 - 14:35 | Link to Comment Wakanda
Wakanda's picture

I posted that as a joke but half serious.  It would be red meat for his core base and a chance to win back the Huffpo white middle class that put him in the Oval Office.

I would certainly enjoy the orange jumpsuit parade no matter who threw the party.

Fri, 07/13/2012 - 14:34 | Link to Comment chunga
chunga's picture

The DOJ, CFTC, SEC, bunglers are about as good at their jobs as was the Nazi Ethics Committee

Fri, 07/13/2012 - 14:46 | Link to Comment Whiner
Whiner's picture

A positive thought for.these grey times. I prefer a comparison to Hitler wiping out his longstanding bully boys, The Broen Shirts in order to win over the Army. Corzine gets the 3:00 am knock on the door and he and his family disappear with angular men In leather coats.

Fri, 07/13/2012 - 14:15 | Link to Comment Mr. Poon
Mr. Poon's picture

I don't know where Jon Corzine is, but if I were to guess, I would say he's working the phones reminding certain people that if they parade him in front of the cameras for a perp walk, the pictures of him and the President side-by-side will also start popping up.

Goes to show:  if you want a get-out-of-jail-free card, just make sure you're in plenty of camera shots with the President.

Sun, 07/15/2012 - 08:33 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I don't know where Jon Corzine is

 

Here's a hint.....would you like some FRENCH frys with that?

 

Roman Polanski orders them everytime he's in town.

 

 

Fri, 07/13/2012 - 14:53 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Exactly. Wtf?!!

Fri, 07/13/2012 - 14:54 | Link to Comment Rasna
Rasna's picture

Is this this first arrest in the infinite arena of ongoing financial fraud?

Martha and Bernie don't count.  We need to see the banksters go down... Corzine, Blankfein, Dimon, BofA, JPMC, Wells, GS, just to name a few.  These bastards have robbed, raped and pillaged and ruined the lives of millions here and around the world.

Eric Holder is an enabler and he takes his orders from O ( who I voted for last time around.  Having Sarah Palin a heartbeat from the levers of power made my head spin). But we all know that all of these SoB's are owned by the Financial Oligarchy.  Eric Holder should be investigates and charged with gross incompetence and malfeasance. 

All of the bankster roaches will scurry for the shadows while WASENDORF is offered up as a sacraficial goat.  We need some financial DDT and someone with the guts to use it.

I hate this shit and it's been going on far to long.

Fri, 07/13/2012 - 23:44 | Link to Comment harleyjohn45
harleyjohn45's picture

Did you even bother to check Palins record against Obama's record.  If not, then you are a stupid as you look,.

Fri, 07/13/2012 - 23:42 | Link to Comment harleyjohn45
harleyjohn45's picture

Did you even bother to check Palins record against Obama's record.  If not, then you are a stupid as you look,.

Fri, 07/13/2012 - 14:55 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

Medal of Honor for Wassendorf...he admits his transgressions and this is a good sign there is at least a flicker of remorse, unlike the other arrogant POS, Vizine.

Fri, 07/13/2012 - 15:20 | Link to Comment Rasna
Rasna's picture

Here...

You forgot to add ...

/sarc

There... that should take care of it.

Fri, 07/13/2012 - 18:43 | Link to Comment tbd108
tbd108's picture

He's a Hawkeye (as I am) so he is not without some decency (not much maybe, perhaps at least has a sense of shame).

Sat, 07/14/2012 - 11:28 | Link to Comment ultraticum
ultraticum's picture

Iowa, once a state known for its republican values and independent spirit is now a poster child for everything wrong with America. The farmers have become welfare slaves, and everybody else is a tattooed fat ass living off other transfer payments. Hence a true blue state.

Fri, 07/13/2012 - 14:59 | Link to Comment Animal Cracker
Animal Cracker's picture

Teflon John paid tribute.  He knew the real rules.

Fri, 07/13/2012 - 15:46 | Link to Comment Rasna
Rasna's picture

Jon "the Godfather" Corleone errrrrrrrrrrrrrr Corzine, knows the rules, is paying tribute... and is currently untouchable... O and assholder haven't the slightest inclination to go after him or bankster like him.  There are no Michaels on the horizon, who knows what it takes to create an environment where business can be conducted.

Fri, 07/13/2012 - 15:00 | Link to Comment lunaticfringe
lunaticfringe's picture

At least this dude has a conscience. Corzine just a greedy sociopath.

Fri, 07/13/2012 - 16:17 | Link to Comment LawsofPhysics
LawsofPhysics's picture

so the guy with a conscience (I doubt it) goes to jail and the sociopath doesn't?  FAIL.

Fri, 07/13/2012 - 18:27 | Link to Comment New World Chaos
New World Chaos's picture

This is part of their grand plan for making the world safe for sociopathocracy.  It's a giant selective breeding program implemented through the financial and legal systems and the media.  At all levels narcissistic sociopaths must be rewarded with all kinds of booty; women must be conditioned to put out for sociopaths in proportion to their swag; honorable men must be punished or at least marginalized.  Having a conscience was one of Wasendorf's big mistakes (along with not being a bagman for Obama and not being a former CEO of the Squid). 

Madoff's big mistake was stealing from Zionist charities.

Didn't junk you.

Fri, 07/13/2012 - 17:03 | Link to Comment goldenbuddha454
goldenbuddha454's picture

I think the general public's rage at these ceo's is somewhat misplaced.  Who enabled the Corzines, Madoffs, Stanfords?  The f-ing SEC, that's who and the politicians, thats who!!!  When the oversite committees and the govt. agencies we pour billions and billions into to perform the basic function called "money counting" get their heads out of their golf bags then maybe we can have actual fact-checked numbers.  I haven't seen anyone from the SEC go to prison yet.  Thats what I want to see.  I want to see congressmen and senators who are on these oversight committees go to prison.  Maybe then they'll all wake up up there in Washington.  They're all completely worthless.  Republican and Democrat and Independent alike.  They've all gotten elected to have that nice cushy salary and pension for life.  That's really the problem.  If the jobs paid 50k a year with no pensions, no health insurance, no benefits, we'd have alot better bunch in there than we have now.

Fri, 07/13/2012 - 21:12 | Link to Comment Buck Johnson
Buck Johnson's picture

Where is Corzine?  That guy should be trying to get a plea deal on the 1.6 Billion he stole.  You see if your in the club your protected, but not your thrown to the wolves. 

Fri, 07/13/2012 - 13:59 | Link to Comment runlevel
runlevel's picture

NEW EXECUTIVE ORDER:

Obama gives himself control of all communication systems in America

 

http://rt.com/usa/news/obama-president-order-communications-770/

Fri, 07/13/2012 - 14:02 | Link to Comment bob_dabolina
bob_dabolina's picture

Obama is not peppered with the aroma of a fascist dictator.

Fri, 07/13/2012 - 14:06 | Link to Comment NotApplicable
NotApplicable's picture

Which is why he gets away with it.

Fri, 07/13/2012 - 14:15 | Link to Comment Wakanda
Wakanda's picture

Are your sinuses clogged?

Fri, 07/13/2012 - 14:47 | Link to Comment NotApplicable
NotApplicable's picture

He's referring to the seasoning applied by the facade chefs, not the natural stench of the rotten carcass.

Fri, 07/13/2012 - 14:05 | Link to Comment pods
pods's picture

Yep, and rumor has it he will cancel the election. /sarc

The US gov has had COG plans since before I was born.  

How is it that the US government, which has knowingly broken the law numerous times, will somehow need the cover of an EO to implement what they want?

If you can come to the realization that the US government looks out for itself, none of these matter.

They already CAN take control over communications, shipping, farms, public swimming pools, etc.

They have the monopoly on force.

pods

Fri, 07/13/2012 - 14:06 | Link to Comment runlevel
runlevel's picture

Point Good it is.

Fri, 07/13/2012 - 15:57 | Link to Comment CharlieSDT
CharlieSDT's picture

While they have a majority of the force, some dudes out in Wyoming might disagree with you that the Govt has a monopoly on force,

Fri, 07/13/2012 - 14:09 | Link to Comment MillionDollarBoner_
MillionDollarBoner_'s picture

Point of Information, Mr Chairman...

History of German in the U.S.

German became the second most widely spoken language in the U.S. starting with mass emigration from the German Palatinate and adjacent areas, to Pennsylvania in the early 1700s, though there had been some immigration as far back as the 1680s.

http://en.wikipedia.org/wiki/German_in_the_United_States

Y'all got Nazi in yer blood ;o)

Fri, 07/13/2012 - 14:11 | Link to Comment runlevel
runlevel's picture

Im a nazi about The Constitution ;) 

Fri, 07/13/2012 - 14:19 | Link to Comment pods
pods's picture

Snikey!  So I am a McNazi?

Or would that be McKraut?

pods

Fri, 07/13/2012 - 16:47 | Link to Comment smiler03
smiler03's picture

I get your point but you have to remember that the Irish genes knock hells bells out of those Nazi ones so only Irish ancestry is worth claiming.

(a joke)

Fri, 07/13/2012 - 14:44 | Link to Comment HardAssets
HardAssets's picture

pods - I guess we'll see - - - but I respectfully disagree with your view.

Why would they allow O to cancell the election and bring about all that obvious turmoil, when they can easily and smoothly transition in his carbon copy policy/action replacement -  - Romney ?

I remember watching O during the 2008 campaign at a conference for finance guys. O didnt have a clue about economics or business. He seems to like to vacation and take a lot of time off. He's a slick talking lawyer, but IMO some people give him far too much credit for actually calling the shots.

The danger is that a lot of people who identify with the 'right' will stand down and relax if Romney gets in. Then theyll later scratch their heads in puzzlement when Romney does things that they can't understand or explain.  (I recall this happening with the last Bush.)

 

Fri, 07/13/2012 - 14:51 | Link to Comment runlevel
runlevel's picture

Bingo. 

This clip was just amazing. A clueless Republicrat making himself look foolish as always. "Why dont you just go ahead and say your for obama!" - The Idiot.

Jerry Doyle Rips Apart A Romney Supporter

Fri, 07/13/2012 - 14:55 | Link to Comment pods
pods's picture

You missed the sarc tag. :)

 

Elections are for the people.  For the people to maintain hope so that they stick with the system that has screwed them over for generations.

As long as you have the hope that the next election will really, really do it then they do not have to do anything.

If voting is not the solution, it will force you to take on another approach, and they do not want that.

Someone smarter than me once said religion is the opiate of the masses.

I say bullshit.

VOTING is the opiate of the masses.

pods

Fri, 07/13/2012 - 15:04 | Link to Comment machineh
machineh's picture

Why vote in the Bar-Mitt (pronounced 'varmint') contest, when you can run it today: set loose two cockroaches in the hallway, watch them skitter along the baseboard, and see which ugly little pest wins the contest to infest your home and blight your life.

Fri, 07/13/2012 - 16:49 | Link to Comment smiler03
smiler03's picture

I presume it depends on whether you're invested in the "military" or "health" machine? /sarc  

Fri, 07/13/2012 - 15:32 | Link to Comment Rasna
Rasna's picture

The candidate is Oromney...

Will make no difference who wins.  They are cut from the same cloth.

They are owned and beholden to the financial elite... How else do you explain assholder, as the sock puppetrunning Justice, doing absolutely zilch for the past 4 years except running guns to the cartels in Mexico.  He takes his orders from Oromney.

Fri, 07/13/2012 - 14:05 | Link to Comment Bastiat
Bastiat's picture

Great news to follow!!

Fri, 07/13/2012 - 14:09 | Link to Comment Joebloinvestor
Joebloinvestor's picture

He may have a BIG problem trying to sieze HAM radio gear.

These guys are well armed also.

Fri, 07/13/2012 - 14:10 | Link to Comment Jason T
Jason T's picture

all your communicatons are belong to ME.

Fri, 07/13/2012 - 14:19 | Link to Comment TWSceptic
TWSceptic's picture

Hitler, Stalin etc would have been jealous.

Fri, 07/13/2012 - 14:00 | Link to Comment bob_dabolina
bob_dabolina's picture

EDIT:

less successful than Corzine at evading legitimate charges by Eric holder, the attorney general that's as pure as a wind driven snow

Fri, 07/13/2012 - 13:58 | Link to Comment semperfi
semperfi's picture

I missed this one - was on vacation - what happened??

Fri, 07/13/2012 - 14:12 | Link to Comment NotApplicable
NotApplicable's picture

Corzine 2.0

Only this time, with a non-club member.

Fri, 07/13/2012 - 13:59 | Link to Comment FXPortent
FXPortent's picture

Slammed on the hood treatment! How's the paint taste?

Fri, 07/13/2012 - 13:59 | Link to Comment camaro68ss
camaro68ss's picture

If he was friends with the Democratic party he might have been able to get off scott free. 

Fri, 07/13/2012 - 14:10 | Link to Comment Bastiat
Bastiat's picture

"friends?"  you mean a major contributor.

Fri, 07/13/2012 - 14:23 | Link to Comment NotApplicable
NotApplicable's picture

I was going to guess he supported McCain, but I just checked opensecrets.org, and discovered that he hasn't donated to any presidential candidate, EVER.

So, to quote Joe Biden, "That's a big fucking deal!"

http://www.opensecrets.org/indivs/search.php?name=WASENDORF&state=IA&zip...

Fri, 07/13/2012 - 14:51 | Link to Comment HardAssets
HardAssets's picture

Well, there ya go. The really big boys like GS, JPM, etc donate to both parties.

Fri, 07/13/2012 - 14:00 | Link to Comment Yellowhoard
Yellowhoard's picture

While unable to successfully kill himself,

Nobody likes a quitter.

Fri, 07/13/2012 - 14:06 | Link to Comment pods
pods's picture

Sheesh, he couldn't even do that right.

I guess he can successfully argue mental incompetence in court?

pods

Fri, 07/13/2012 - 14:49 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

Apparently he could not piss off the right people enough to commit suicide.

Fri, 07/13/2012 - 14:56 | Link to Comment pods
pods's picture

Needed to study under the BoE Dymon guy. 

That guy PISSED off some people.

On par with Gary Webb.

pods

Fri, 07/13/2012 - 15:15 | Link to Comment Lucky Guesst
Lucky Guesst's picture

hmmm, would he be considered hellbound if he just announced a press release and waited to be taken out?

Fri, 07/13/2012 - 15:12 | Link to Comment Yellowhoard
Yellowhoard's picture

If we don't succeed, we run the risk of failure.
- Dan Quayle

Fri, 07/13/2012 - 14:11 | Link to Comment Rainman
Rainman's picture

day ain't over yet

Fri, 07/13/2012 - 14:00 | Link to Comment BillVille
BillVille's picture

was he with Corzine...maybe in drag?

Fri, 07/13/2012 - 14:01 | Link to Comment fuu
fuu's picture

Don't drop the soap bitch.

Fri, 07/13/2012 - 14:25 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

"PFG head" will have an entirely new meaning.

Fri, 07/13/2012 - 14:33 | Link to Comment Floordawg
Floordawg's picture

Exactly! Nighty-nite, keep your butthole tight!

Contributor or not, I'm still surprised ANYONE'S getting arrested. Maybe TPTB figure it's time to inject a little sense of "confidence" in the casino... I mean ponzi... I mean market, yeah, into the masses.

Fri, 07/13/2012 - 14:01 | Link to Comment world_debt_slave
world_debt_slave's picture

Riddle me this: MFG head walks while PFG head tagged.

Fri, 07/13/2012 - 14:02 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

NFG!

Fri, 07/13/2012 - 14:02 | Link to Comment Seasmoke
Seasmoke's picture

being a Senator does have its perks

Fri, 07/13/2012 - 14:29 | Link to Comment ScatterTheCoins...
ScatterTheCoins_TurnTheTables's picture

Former Goldman CEO >  Former NJ Governor > Former NJ Senator > Current Smartest Guy Biden Knows = TBTF!

Crook without political power = fall guy

Fri, 07/13/2012 - 14:14 | Link to Comment Forgiven
Forgiven's picture

Must be the wrong F an' G. (*FG)

Fri, 07/13/2012 - 14:24 | Link to Comment NotApplicable
NotApplicable's picture

What is the difference between billions and millions?

Fri, 07/13/2012 - 16:51 | Link to Comment smiler03
smiler03's picture

A decimal point?

Fri, 07/13/2012 - 14:02 | Link to Comment Seasmoke
Seasmoke's picture

Obama still hoping he can bundle $5 million or more before his trial......i am sure Rahm is on the case

Fri, 07/13/2012 - 14:02 | Link to Comment Schmuck Raker
Schmuck Raker's picture

"Wasendorf"? That doesn't sound brown.

How can they arrest him if he isn't brown? Outrageous!

Fri, 07/13/2012 - 14:26 | Link to Comment NotApplicable
NotApplicable's picture

Idiot Out Wandering Around

Fri, 07/13/2012 - 14:02 | Link to Comment icanhasbailout
icanhasbailout's picture

I have it on good authority that no crimes were committed in the financial markets. All our dear leaders agree!

Fri, 07/13/2012 - 14:03 | Link to Comment Winston Churchill
Winston Churchill's picture

Who is John Corzine ?

Fri, 07/13/2012 - 15:48 | Link to Comment EINSILVERGUY
EINSILVERGUY's picture

One day in a parallel universe someone will opine a book on the evil being they call High Fianance. Peole will have a rallying cry for all of thefrustration, pain and unequity of all this.

 

Quite desperation won't be uttered as "Who is John Galt" but rather "Who is John Corzine"

 

FU John Corzine... May your worthless soul burn in Hell

"The only thing needed for evil to succeed is for good men to do nothing"

Fri, 07/13/2012 - 14:04 | Link to Comment Jim B
Jim B's picture

Equal justice! I am sure they simultaneously arrested Corzine or NOT!

 

I guess it helps to be an Obama bundler! 

Fri, 07/13/2012 - 14:05 | Link to Comment MillionDollarBoner_
MillionDollarBoner_'s picture

Would you entrust your life savings to a fuckwit who was unable to succesfully commit suicide?

Seriously? 

Fri, 07/13/2012 - 16:55 | Link to Comment smiler03
smiler03's picture

Just suppose said fuckwit had a mental map to a buried treasure chest with your gold in it?

Fri, 07/13/2012 - 14:07 | Link to Comment Wakanda
Wakanda's picture

Iowa?

Fri, 07/13/2012 - 14:07 | Link to Comment cougar_w
cougar_w's picture

At his trial, the prosecution will call Jon Corzine to the stand as an expert witness.

/no-sarc

Fri, 07/13/2012 - 14:09 | Link to Comment Lost Wages
Lost Wages's picture

It also benefits Corzine that he sticks to the lie, instead of writing out a huge confession detailing 20 years of fraud in the form of a suicide note.

Fri, 07/13/2012 - 14:11 | Link to Comment Bastiat
Bastiat's picture

Yeah, defense lawyers hate it when you do that.

Fri, 07/13/2012 - 14:12 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

I'm glad they arrested the head, or what's left of it.  Now they can go ahead and boot it into prison!

Fri, 07/13/2012 - 14:17 | Link to Comment Forgiven
Forgiven's picture

Corzine?  Corzine?  Corzine? {Bueller?}  WTF?!!!

 

This is typical of our elitist oligarchy, formerly a great republic, cuff a pawn and leave the bishops standing.  Make sure you cuff more little guys to satisfy the hissing, unemployed masses...but leave the vampire squid alone.

 

What an F*ing joke!  Selective enforcement of laws is the hallmark of oligarchic dictatorships.

 

Fri, 07/13/2012 - 14:33 | Link to Comment CosmicDebris
CosmicDebris's picture

Was going to post something similar...he will also be a good scapegoat to better O's re-election chances. "I have saved the little guys hard earned money by jailing this man. We can rest assured that this will not happen again."

Fri, 07/13/2012 - 14:15 | Link to Comment battlestargalactica
battlestargalactica's picture
[about Ugarte] I'm making out the report now. We haven't quite decided whether he committed suicide or died trying to escape.

Captain Louis Renault

Casablanca

Fri, 07/13/2012 - 14:16 | Link to Comment partimer1
partimer1's picture

hey, who the fu* you think you are?  Jon "superman" Corzine?   The law actually works, if you are not the "superman" Corzine. 

Fri, 07/13/2012 - 14:16 | Link to Comment Miss Expectations
Miss Expectations's picture

There's over $19 Million in assets in his Peregrine Fund Charity.

http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=4315

 

Claw Back...there's a falcon pun somewhere

Fri, 07/13/2012 - 14:41 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

Oh well they just can't do this to Wassenhurfdurf. Just look at what a good person he is, giving all that stolen money to charity and all.

Sat, 07/14/2012 - 13:10 | Link to Comment Rearranging Dec...
Rearranging Deckchairs's picture

what leads you to believe its his? Its headquartered in Boise, Idaho. I know IA and ID confuse a lot of people.

The only mention of him on the website is that he is a member of the board.

Sat, 07/14/2012 - 13:23 | Link to Comment Rearranging Dec...
Rearranging Deckchairs's picture

FYI his proper charity appears to be called the Peregrine Charities. They seem to have an annual Triathalon race which raises money for hospitals in IOWA. Its located in Cedar Falls, Iowa and also seems to have an office in Chicaog much like PFG Best.

 

http://www.guidestar.org/organizations/41-2152771/peregrine-charities.aspx

 

Its funny that he would sit on a board of an organization with a similar name with a mission to help save Falcons. I am sure he had to give or raise money to be on that board but its unlikely to be where the bulk of his ill gotten gains came from.

 

Fri, 07/13/2012 - 14:17 | Link to Comment Conman
Conman's picture

another ponzi down, 9834734724242 more to go.

Fri, 07/13/2012 - 14:17 | Link to Comment Rearranging Dec...
Rearranging Deckchairs's picture

Although definitely this guy doesn't have John Corislime's connections, I'll also bet that the fraud directly benefited the WASENDORF directly instead of JP Morgan Chase. So in this case the cui bono of the fraud is much easier to pin down. I'll bet he just straight out stole.

Its also sort of like the difference between Madoff running a litteral ponzi scheme and fractional reserve banking. They are both based on the assumption that 99.999% large depositors/ investors aren't going to redeem or withdraw on any given day. 

Systemic fraud v. an individuals fraud. The system goes after the individual type while perpetuating the systemic fraud of the status quo.

Fri, 07/13/2012 - 14:17 | Link to Comment Meesohaawnee
Meesohaawnee's picture

no wonder why we are up over 1% on the SP.. and here i thought it was great  earnings.  the worse the news the bigger the ramp. We cant get the sheeple awaken from their i slumber when they watch the 5 oclock news can we?

Fri, 07/13/2012 - 14:18 | Link to Comment jmcadg
jmcadg's picture

Rank hypocrisy as blatant as possible.

What about Gensler, is ole ratface going to prison too.
He fuckin' should.

He is just as culpable.

Fri, 07/13/2012 - 14:20 | Link to Comment digalert
digalert's picture

Arrested for lying to regulators?  You can steal, but you better not lie damnit!

Fri, 07/13/2012 - 14:21 | Link to Comment Kasperfx
Kasperfx's picture

"sorry duble posted" mod please remove this one,

Fri, 07/13/2012 - 14:26 | Link to Comment Kasperfx
Kasperfx's picture

sacrificial lamb to hold back the masses of people calling for  regulators/gov  to take the big bankers/brokers down... now inpose a substantial penalty/fine and  jail time and inforse the rest of the dirty pigs out their 


Fri, 07/13/2012 - 14:20 | Link to Comment cougar_w
cougar_w's picture

I might have written about this guy here, a year ahead of things:

http://madscienceunlimited.com/fiction/aTearForTheSinner.html

Of course in this case Fortran takes no prisoners, and sister passes up no free lunch, so it isn't exactly suicide but at least there is less risk of screwing up and being arrested. Unless that's your thing I guess.

Fri, 07/13/2012 - 14:21 | Link to Comment Village Smithy
Village Smithy's picture

Will any media shill stand up and ask the POTUS the obvious question?

Fri, 07/13/2012 - 14:21 | Link to Comment monopoly
monopoly's picture

They arrest this guy in 3 days and the slime Corzine is still free. And nobody cares. America being flushed down the toilet.

Fri, 07/13/2012 - 14:48 | Link to Comment Everybodys All ...
Everybodys All American's picture

Corzine as you know was and is a very prominent democratic figure. There is no way Obama would allow Corzine even one second of criticism and the media played right along with this narrative. Sick. Cincy reds and St. Louis blues are not the same ...

Fri, 07/13/2012 - 14:38 | Link to Comment Dr. Engali
Dr. Engali's picture

Yet Corzine runs free. Total bullshit!  Weaseldorf is their "we are cracking down on corruption" escape goat.

Fri, 07/13/2012 - 15:06 | Link to Comment machineh
machineh's picture

'Escape goat,' you say? More like an escape poodle!

Fri, 07/13/2012 - 14:25 | Link to Comment Sutton
Sutton's picture

Note to self:  Come Monday , open a futures brokerage.  You will have free rein over the "segregated"(hahahahaha) funds and the retards at the CME/NFA/CFTC won't see it for years, if ever.

Fri, 07/13/2012 - 14:26 | Link to Comment spooz
spooz's picture

go big or go home

"CHOICE WAS GO OUT OF BUSINESS OR CHEAT"

Fri, 07/13/2012 - 14:29 | Link to Comment Zen Bernanke
Zen Bernanke's picture

Seriously, federal regulators said the fraud lasted 20 years?  Are they freaking kidding?  If they had any clue about fraud previously, why on earth would they wait until AFTER the money disappeared to put a stop to it?    I'm in no way condoning his fraud, I'm merely pointing out what incompetent morons the investigators are.  I've heard of throwing somebody under the bus before, but why would you throw yourself under it?  Simple minded fucktards. 

Fri, 07/13/2012 - 14:43 | Link to Comment Bunga Bunga
Bunga Bunga's picture

Watching porn on the internet is just an excuse, because it did not exist 20 years ago. Something more serious is flawing the system, or did the regulators get porn tapes in the mail 20 years ago?

Fri, 07/13/2012 - 14:26 | Link to Comment alien-IQ
alien-IQ's picture

if they plan to arrest everyone on Wall Street that has been "LYING TO REGULATORS"...they'll first need to build a lot more prisons to accommodate the massive influx of fresh new well groomed inmates.

Fri, 07/13/2012 - 14:33 | Link to Comment spooz
spooz's picture

How about we have a US style Bastille Day for non violent drug offenders to free up some space?

Fri, 07/13/2012 - 14:36 | Link to Comment alien-IQ
alien-IQ's picture

And that, ladies and gentlemen...is called "problem solving".

I like it.

Fri, 07/13/2012 - 15:01 | Link to Comment Sofa King Confused
Sofa King Confused's picture

Can't do that govts would then be in breach of contract with Prison Industries for not keeping prisons 90% full

 

Fri, 07/13/2012 - 14:57 | Link to Comment Sofa King Confused
Sofa King Confused's picture

Forget the prisons, you can buy many different caliber ammo for a dollar or less

Fri, 07/13/2012 - 14:28 | Link to Comment q99x2
q99x2's picture

Arrest Corziine, Dimon, Blankfeind, Hillary, Holder and Obama

While your at it.

Fri, 07/13/2012 - 15:06 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

I agree with this, and am also irritated that the other option to Obama is a serial corporate raider with deep ties to Wall Street.  There will be no winner in November.

Fri, 07/13/2012 - 15:09 | Link to Comment machineh
machineh's picture

'Arrest Corziine, Dimon, Blankfeind, Hillary, Holder and Obama'

Then pump the contents of a septic tank through the roof vent of their cell, and watch the scum rise to the top.

Fri, 07/13/2012 - 14:28 | Link to Comment Seasmoke
Seasmoke's picture

What a Wasendorf !

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