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PFG Head Arrested
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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I believe it's a German word meaning : Not politically connected enough to get away with fraud in Amerika.
The comment about either going out of business or cheating reminds me of the old Jesse Ventura saying when he was a heel in the WWF:
"Win if you can, lose if you must, but always cheat."
Well, that IS the Amerikkkan way, is it not?
where is the definition of jew lowlife .......Gensler !
This just came in over MarketWatch:
Isn't that just the fucking right way to do it?
"Hey guys, we're getting a ration of shit over here at the CFTC. You mind pretending to clean up your act a little? You know, we're all trying to stay under the radar with Congress. Love you baby."
Wish I had a job like that. Those guys all get 7-figures too and bonuses. Shit.
Can you imagine how high the stock market will go if a few firms starting asking that naked short positions be covered in the wake of the MFG and PFG scandals? Its all bullish, of course.
I was imagining a world today where Bank President Dimon came before Congress and said "this division was in charge of managing risk not creatin it. The risk..and massive losses that occurred because they created risk rather than mitigated are my fault and my fault alone. I serve at the pleasure of the Board..this is understood. The Board has my resignation letter and may part ways with me at any time." I say this because of the obvious excellence of the number posted by JPM which has caused the market to surge today. Imagine if we had not only people of such strength of character but people who DEMANDED such strength of character in others as well. We proceed more successfully through dishonesty? When "we already got it made"? How? I bet I could add an honesty premium to this market...if anyone gave a phuck.
meanwhile Corzine et al are living the good life. What a sorry state of a country we live in.
They need to stop calling it "ATTEMPTED SUICIDE."
You don't "ATTEMPT" suicide. You really want to do yourself, it's pretty easy. Lots of ways. Takes a real retard to screw up.
More accurate term heard by police in years gone by: "SYMPATHYCIDE."
"Suicide is a major, preventable public health problem. In 2007, it was the tenth leading cause of death in the U.S., accounting for 34,598 deaths.1 The overall rate was 11.3 suicide deaths per 100,000 people.1 An estimated 11 attempted suicides occur per every suicide death.1
Suicidal behavior is complex. Some risk factors vary with age, gender, or ethnic group and may occur in combination or change over time."
You can be fairly sure that some people reading your comment have a relative who has survived a suicide attempt. Perhaps you would suggest legislating for failed suicide attempts to be made 100% succesful?
http://www.nimh.nih.gov/health/publications/suicide-in-the-us-statistics-and-prevention/index.shtml/index.shtml
You're right. My intention is to express suspicion and contempt for pity plays by wholly unscrupulous but dramatically talented and determined sociopaths who will use every tool at their disposal to manipulate the system and the feelings of real persons of conscience.
To normal human beings who experience genuine personal crises, I apologize sincerely and profusely.
I gather that this case may have been genuine and the guy nearly died. Still, you'll understand if I sympathize with his victims.
Corzine must be laughing like a mother fucker somewhere.
Untoucheable bitches.
"Every does it."
or will his defense be,
"I had no idea it was illegal."
or maybe the new one,
"I had a seizure..."
or the last hope,
"I am legally insane."
I'd go for the "Every does it", he'd probably get off by being inculpable.
Hmmmmm....
"I have committed fraud. For this I feel constant and intense guilt, I had no access to additional capital and I was forced into a difficult decision: Should I go out of business or cheat? I guess my ego was too big to admit failure,"
- Wasendorf
"Damn right I have committed fraud - but it's all in a day of Doing God's Work. For this I feel constant and intense satisfaction! I have access to all the capital-for-crap" that I need - via my very own hotline to the NY FED & US Treasury . THe choice was a no-brainer: Should I go out of business or just stick all The Squid's losses to the taxpayer? I guess my ego is just TBTF!!! LOL!!! Suckers!!!!
- Anon Head of Wall ST Institution
The bankroll - the financial corruption - comes from the central banks. If you’re not on the payroll, you sink. Bankers pick the winners and losers.
Professor Werner Sombart in his work Die Juden und das Wirtschaftsleben summed up today’s situation as he did Europe’s in 1911:
“If we want to make clear in one sentence the direction in which the modern political economy is moving we can say: the stock-exchange agents of the banks are becoming an ever-increasing measure the dictators of economic life. All economic happenings are more and more subordinate to the decisions of finance. The question whether a new industrial undertaking is to spring up or an existing one to be developed; whether the owner of a shop or a store is to get the means to extend his business, all these questions are decided in the offices of Banks and Bankers.
I just hope the reason his suicide was a fail was so that he can rat out some others on his way to jail.
Wow! A bankster actually has to ATTEMPT SUICIDE and write a letter of CONFESSION OF FRAUD, before anyone will act. Otherwise, it's back to internet porn.
Wasendorf you dummy. You should have taken a page out of Jon "the Slime" Corzine's play book and donated SEQ Funds to Obummers campaign. If you had, you'ld be drinking champagne about now.
Forget about Wasendorf, he's a dumbass scapegoat, the biggest dirty crook is Gary Gensler himself, but be shure, he will get a mega compensation for his top job!
"...*WASENDORF SAID HE USED PHOTOSHOP, SCANNER IN FORGERY, U.S. SAYS..."
so????? that's exactly what obama did with the short form and that ridiculous fake long form birth certificate he released some time ago....
the robosigners forged documents out the ass and they are given bonuses and other perks of fraud....
this guy needs his head examined.....he is an upstanding fraud of the community, to be admired and adulated just like bernanke and corzine....
You've been reading too much deninger. No need for conspiracy theories to indict obama, his record speaks for itself.
Good riddance. If the gains of the past 20 years went to the top 1% and they're bogus gains, then the more hedge fund managers, day traders, and bankers destitute, broke, unemployed, and on food stamps, the better of the world will be. Rick Santelli can MC and read the obituary.
They are all guilty as hell.
It's a setup. All of it. From the alleged suicide, to the suicide note and now the arrest. His number came up and he's gone.
Real Power from Fake Money?
http://shutupnsing.wordpress.com/2012/07/14/the-centralization-of-real-power-using-fake-wealth-self-interest/