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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 | 2613612 LawsofPhysics
LawsofPhysics's picture

Where is John Corzine motherfuckers?

Fri, 07/13/2012 - 13:59 | 2613628 Rainman
Rainman's picture

wherever he is, he grateful for the diversion.

Fri, 07/13/2012 - 14:04 | 2613659 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 | 2613730 iDealMeat
Fri, 07/13/2012 - 14:41 | 2613850 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 | 2613927 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 | 2614076 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 | 2614241 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 | 2615311 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 | 2615432 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 | 2613932 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 | 2613749 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 | 2613785 Spaceman Spiff
Spaceman Spiff's picture

too rational... expect disbarment.  

Sat, 07/14/2012 - 10:22 | 2615519 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 | 2613795 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 | 2613854 12ToothAssassin
12ToothAssassin's picture

Placeholder

Fri, 07/13/2012 - 15:08 | 2613946 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 | 2614232 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 | 2613864 NotApplicable
NotApplicable's picture

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

Fri, 07/13/2012 - 14:30 | 2613807 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 | 2613990 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 | 2613660 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 | 2613777 bubbleburster
bubbleburster's picture

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

Fri, 07/13/2012 - 14:17 | 2613745 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 | 2613687 Wakanda
Wakanda's picture

Iowa?

Fri, 07/13/2012 - 14:42 | 2613856 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 | 2614003 Wakanda
Wakanda's picture

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

Sun, 07/15/2012 - 08:29 | 2617061 GetZeeGold
GetZeeGold's picture

 

 

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

 

Fri, 07/13/2012 - 15:08 | 2614008 johnQpublic
johnQpublic's picture

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

Fri, 07/13/2012 - 14:14 | 2613726 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 | 2613793 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 | 2613823 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 | 2613824 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 | 2613877 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 | 2613731 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 | 2617065 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 | 2613911 Id fight Gandhi
Id fight Gandhi's picture

Exactly. Wtf?!!

Fri, 07/13/2012 - 14:54 | 2613918 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 | 2615183 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 | 2615184 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 | 2613922 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 | 2614088 Rasna
Rasna's picture

Here...

You forgot to add ...

/sarc

There... that should take care of it.

Fri, 07/13/2012 - 18:43 | 2614741 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 | 2615678 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 | 2613944 Animal Cracker
Animal Cracker's picture

Teflon John paid tribute.  He knew the real rules.

Fri, 07/13/2012 - 15:46 | 2614211 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 | 2613948 lunaticfringe
lunaticfringe's picture

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

Fri, 07/13/2012 - 16:17 | 2614335 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 | 2614557 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 | 2614526 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 | 2614973 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 | 2613614 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 | 2613645 bob_dabolina
bob_dabolina's picture

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

Fri, 07/13/2012 - 14:06 | 2613678 NotApplicable
NotApplicable's picture

Which is why he gets away with it.

Fri, 07/13/2012 - 14:15 | 2613734 Wakanda
Wakanda's picture

Are your sinuses clogged?

Fri, 07/13/2012 - 14:47 | 2613875 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 | 2613667 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 | 2613674 runlevel
runlevel's picture

Point Good it is.

Fri, 07/13/2012 - 15:57 | 2614267 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 | 2613696 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 | 2613708 runlevel
runlevel's picture

Im a nazi about The Constitution ;) 

Fri, 07/13/2012 - 14:19 | 2613754 pods
pods's picture

Snikey!  So I am a McNazi?

Or would that be McKraut?

pods

Fri, 07/13/2012 - 16:47 | 2614454 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 | 2613859 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 | 2613900 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 | 2613924 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 | 2613981 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 | 2614466 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 | 2614141 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 | 2613670 Bastiat
Bastiat's picture

Great news to follow!!

Fri, 07/13/2012 - 14:09 | 2613693 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 | 2613700 Jason T
Jason T's picture

all your communicatons are belong to ME.

Fri, 07/13/2012 - 14:19 | 2613753 TWSceptic
TWSceptic's picture

Hitler, Stalin etc would have been jealous.

Fri, 07/13/2012 - 14:00 | 2613619 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 | 2613622 semperfi
semperfi's picture

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

Fri, 07/13/2012 - 14:12 | 2613718 NotApplicable
NotApplicable's picture

Corzine 2.0

Only this time, with a non-club member.

Fri, 07/13/2012 - 13:59 | 2613625 FXPortent
FXPortent's picture

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

Fri, 07/13/2012 - 13:59 | 2613630 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 | 2613702 Bastiat
Bastiat's picture

"friends?"  you mean a major contributor.

Fri, 07/13/2012 - 14:23 | 2613772 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 | 2613904 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 | 2613633 Yellowhoard
Yellowhoard's picture

While unable to successfully kill himself,

Nobody likes a quitter.

Fri, 07/13/2012 - 14:06 | 2613679 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 | 2613891 12ToothAssassin
12ToothAssassin's picture

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

Fri, 07/13/2012 - 14:56 | 2613933 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 | 2614057 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 | 2614040 Yellowhoard
Yellowhoard's picture

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

Fri, 07/13/2012 - 14:11 | 2613710 Rainman
Rainman's picture

day ain't over yet

Fri, 07/13/2012 - 14:00 | 2613634 BillVille
BillVille's picture

was he with Corzine...maybe in drag?

Fri, 07/13/2012 - 14:01 | 2613637 fuu
fuu's picture

Don't drop the soap bitch.

Fri, 07/13/2012 - 14:25 | 2613784 Cheesy Bastard
Cheesy Bastard's picture

"PFG head" will have an entirely new meaning.

Fri, 07/13/2012 - 14:33 | 2613813 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 | 2613638 world_debt_slave
world_debt_slave's picture

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

Fri, 07/13/2012 - 14:02 | 2613646 WALLST8MY8BALL
WALLST8MY8BALL's picture

NFG!

Fri, 07/13/2012 - 14:02 | 2613647 Seasmoke
Seasmoke's picture

being a Senator does have its perks

Fri, 07/13/2012 - 14:29 | 2613803 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 | 2613725 Forgiven
Forgiven's picture

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

Fri, 07/13/2012 - 14:24 | 2613779 NotApplicable
NotApplicable's picture

What is the difference between billions and millions?

Fri, 07/13/2012 - 16:51 | 2614483 smiler03
smiler03's picture

A decimal point?

Fri, 07/13/2012 - 14:02 | 2613644 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 | 2613648 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 | 2613786 NotApplicable
NotApplicable's picture

Idiot Out Wandering Around

Fri, 07/13/2012 - 14:02 | 2613651 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 | 2613657 Winston Churchill
Winston Churchill's picture

Who is John Corzine ?

Fri, 07/13/2012 - 15:48 | 2614223 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 | 2613663 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 | 2613671 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 | 2614498 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 | 2613681 Wakanda
Wakanda's picture

Iowa?

Fri, 07/13/2012 - 14:07 | 2613683 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 | 2613688 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 | 2613713 Bastiat
Bastiat's picture

Yeah, defense lawyers hate it when you do that.

Fri, 07/13/2012 - 14:12 | 2613715 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 | 2613719 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 | 2613822 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 | 2613732 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 | 2613737 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 | 2613740 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 | 2613848 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 | 2615924 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 | 2615952 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 | 2613741 Conman
Conman's picture

another ponzi down, 9834734724242 more to go.

Fri, 07/13/2012 - 14:17 | 2613742 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 | 2613743 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 | 2613747 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 | 2613755 digalert
digalert's picture

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

Fri, 07/13/2012 - 14:21 | 2613756 Kasperfx
Kasperfx's picture

"sorry duble posted" mod please remove this one,

Fri, 07/13/2012 - 14:26 | 2613758 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 | 2613759 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 | 2613762 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 | 2613765 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 | 2613863 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 | 2613767 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 | 2613998 machineh
machineh's picture

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

Fri, 07/13/2012 - 14:25 | 2613788 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 | 2613789 spooz
spooz's picture

go big or go home

"CHOICE WAS GO OUT OF BUSINESS OR CHEAT"

Fri, 07/13/2012 - 14:29 | 2613791 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 | 2613860 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 | 2613792 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 | 2613819 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 | 2613833 alien-IQ
alien-IQ's picture

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

I like it.

Fri, 07/13/2012 - 15:01 | 2613956 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 | 2613934 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 | 2613796 q99x2
q99x2's picture

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

While your at it.

Fri, 07/13/2012 - 15:06 | 2613994 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 | 2614016 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 | 2613797 Seasmoke
Seasmoke's picture

What a Wasendorf !

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