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Presenting The Three Unscripted Sentences That May Have Cost Jon Corzine His Freedom

Tyler Durden's picture


Today, in advance of their sworn testimony, each witness to the Senate Agricultural Committee's MF Global hearing was requested to disclose what their prepared remarks would be. Sure enough, CME executive chairman Terry Duffy did that, and his prepared testimony can be found here. In and of itself there was nothing unexpected about said speech, the relevant section of which has been transcribed below. Where things got very ugly for Corzine, is when Duffy literally veered from the script, and added three unexpected sentences, catching everyone in the committee off guard (including those who had given up on the testimony which came just after Corzine's) and which according to most news wires could have buried Corzine's defense strategy, exposing him for a liar under oath, and potentially costing him his freedom. The video of the relevant 2 minutes is attached below.

First: here is what the Duffy prepared remarks should have been:

Our auditors returned on Sunday, October 30th because we learned from the CFTC that the draft segregation report for Friday, October 28th, which had been provided to the CFTC that day, showed a $900 million dollar shortfall in segregation caused by an “accounting error.” Our auditors, working with the CFTC, devoted the rest of the day and night Sunday to find the so-called accounting error. No such error was ever found. Instead, at about 2 am Monday morning, MFG informed the CFTC and CME that customer money had been transferred out of segregation to firm accounts. Transfers of customer funds for the benefit of the firm constitute serious violations of our rules and of the Commodity Exchange Act. MFG was taken over by a SIPC Trustee on Monday. However, before the SIPC Trustee stepped in Monday, the segregation report for Thursday, October 27th, which had shown not only full segregation compliance but also $200 million in excess segregated funds, was corrected by MFG to show a deficiency of $200 million in segregated funds. Apparently based on MFG’s segregation reports, additional transfers out of segregation occurred on Friday.

And here is what they ended up being: revised text in bold.

Our auditors returned on Sunday, October 30th because we learned from the CFTC that the draft segregation report for Friday, October 28th, which had been provided to the CFTC that day, showed a $900 million dollar shortfall in segregation caused by an “accounting error.” Our auditors, working with the CFTC, devoted the rest of the day and night Sunday to find the so-called accounting error. No such error was ever found. Instead, at about 2 am Monday morning, MFG informed the CFTC and CME that customer money had been transferred out of segregation to firm accounts. After receiving this information CME remained at MF Global while MF Global attempted to identify funds that could be transferred into segregation to reduce or eliminate the discrepancy. A CME auditor also participated in a phone call with senior MF Global employees wherein one employee indicated that Mr. Corzine knew about the loans that had been made from the customer segregated accounts. CME Group has provided this information, the names of these individuals to the DOJ and CFTC who are investigating these matters. Transfers of customer funds for the benefit of the firm constitute serious violations of our rules and of the Commodity Exchange Act.... etc.

The only question we have is: why?


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Tue, 12/13/2011 - 23:26 | 1977203 NewThor
NewThor's picture

Maybe some people believe  that Corzine is an uber douche that deserves to burn like a sea of tires?

Tue, 12/13/2011 - 23:33 | 1977237 FEDbuster
FEDbuster's picture

I thought that the captain is supposed to go down with the ship?  Strip Corzine of all his wealth, then toss him in jail for life + 200 years.

Tue, 12/13/2011 - 23:51 | 1977320 nope-1004
nope-1004's picture

Prison awaits.  The money is gone forever, stolen, and stashed.

You got away with it in this world Jon.  Good luck in the next one.



Wed, 12/14/2011 - 00:01 | 1977365 DoChenRollingBearing
DoChenRollingBearing's picture

Do not be surprised if he gets away with this.  But if he does go to jail, our ¨hail fellow well met¨ President will spring him just after next November´s election.  Even in jail, he will get easy time, big time bundler for Obama and economic advisor to VP Biden and all.  Nor will he have to forfeit (much anyway) of his estimated $300,000,000 fortune.  That alone would (he he) make good 50% of MF Global´s customers´ money.

Got popcorn?  Got gold?

Wed, 12/14/2011 - 00:02 | 1977378 Crisismode
Crisismode's picture

Corzine will not spend 60 seconds in jail.


He knows where all the skeletons are buried, including Obama's.

Wed, 12/14/2011 - 00:13 | 1977419 redpill
redpill's picture

Duffy better stay away from hot tubs and small passenger planes from now on.

Wed, 12/14/2011 - 00:18 | 1977442 Overpowered By Funk
Overpowered By Funk's picture

Duffy+Corzine = Vince foster?

Wed, 12/14/2011 - 02:07 | 1977702 Jack Napier
Jack Napier's picture

Corzine has to go to jail. If he doesn't the entire futures market loses all confidence, and the CME doesn't get to enable JPM to manipulate silver any longer. He'll be playing Wii and eating Hot Pockets until the pardon anyway. They only need enough time to buy up the rest of the phyz.

Wed, 12/14/2011 - 03:13 | 1977784 Widowmaker
Widowmaker's picture

Burnt toast on the gold trade.

1200-1050 (or below).

Gold bugs ain't trading - everyone else is gambling with their emotions over star dust.

I do agree with the seagulls though, it's shiny.

Wed, 12/14/2011 - 03:16 | 1977792 Popo
Popo's picture


After watching the video,  I'd say those sentences looked pretty damn 'scripted'.   The question isn't just "why"... it's "by whom?"



Wed, 12/14/2011 - 04:34 | 1977839 Michael
Michael's picture

Jon Corzine should make a statement to the press, he's not planning to commit suicide and would never commit suicide.

Otherwise, he may wind up shooting himself twice in the head with his own shotgun.

Wed, 12/14/2011 - 00:19 | 1977448 williambanzai7
williambanzai7's picture

You got that right

Wed, 12/14/2011 - 01:15 | 1977599 sodbuster
sodbuster's picture

You know those meat grinders with the hand crank on them? You put the meat in the top and turn a crank, and a screw grinds and chews the meat, and spits it out the end. OK- picture the meat grinder with the ground meat dripping out the end, an arm coming out of the top of the grinder, with the hand on the handle. A couple of cops standing around looking at it, and one of them says-"His name was Duffy- damnest case of suicide I ever saw!!"

Wed, 12/14/2011 - 00:51 | 1977522 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

Mere hearsay, "A CME auditor also participated in a phone call with senior MF Global employees wherein one employee indicated that Mr. Corzine knew about the loans that had been made from the customer segregated accounts."  It's that "one employee" who needs to watch his back.

Wed, 12/14/2011 - 01:21 | 1977610 Zero Govt
Zero Govt's picture

i wouldn't secure the one employee... i'd have a heavy armed 24 hour guard around the phone tape of the conversation

Wed, 12/14/2011 - 02:00 | 1977689 bankonzhongguo
bankonzhongguo's picture

In this day and age, the DOJ will murder the witness.

After all, these are the same fookin' crooks that armed Mexican drug cartels to murder American agents in the field.

Feel safer about your position Mr/Mrs Special Agent?

"Fidelity, Bravery, Integrity"

How do like taking orders from people that wipe their asses with the American Flag each and every day?

I swear to G_d.

Everyday is more outrageous than the last.

I am sure its part of a larger program to demoralize everyone - instill hopelessness in our foundations of Life, Liberty and the pursuit of Happiness.

Old fashioned?

The Foundation of the Human Spirit. 

Never forget it and teach to your kids even in our darkest days ahead.

Good luck to everyone.


Wed, 12/14/2011 - 02:16 | 1977717 Skid Marks
Skid Marks's picture

There is no jail without a sentencing.

There is no sentencing without a conviction.

There is no conviction without a trial.

There is no trial without an indictment.

There is no indictment without a complaint.

There is no complaint without a prosecutor.

There is no prosecutor without political will.

There is no political will.

Wed, 12/14/2011 - 07:38 | 1977958 onthesquare
onthesquare's picture

"... in politics nothing is accidental. If something happens, be assured it was planned this way"

Franklin D. Roosevelt, 32 Degree Freemason

"Give me the power of the money and it will not matter any more who is commanding"

Mayer Amschel Rothschild, Illuminati

Wed, 12/14/2011 - 00:55 | 1977531 Silver Bully
Silver Bully's picture

'Duffy better stay away from hot tubs and small passenger planes from now on.'

Also, include busy interesections, restaurants, and any other public places that might have many, many bystanders with cameras. After all, 'they' wouldn't want to waste offing him if no one sees what happens to squealers. Still, one can still dream Corzine will be put away, right?

Wed, 12/14/2011 - 01:27 | 1977630 merizobeach
merizobeach's picture

Are we taking for granted that any Congresspeople were listening?  Or even if they were paying attention, that they could comprehend the moment as it happened?  Something makes me suspect there may not be much piercing insight going on in some of those skulls.

Wed, 12/14/2011 - 09:42 | 1978215 gookempucky
gookempucky's picture

Dont believe for a minute that the CME has no teeth or bite------ for anyone interested follow the board of directors.... corzine/cronies pulled a fast stash grab---it is not really about segregated account theft but the 2 BLACK EYES he gave the CME. Confidence in the CME and most, if not all markets has been compromised. Someone just pissed on moms christmas and she is pissed.

CME coverage for default.

We maintain a 364-day fully secured, committed line of credit with a consortium of domestic and international banks to be used in certain situations by our clearing house. We may use the proceeds to provide temporary liquidity in the unlikely event of a clearing firm default, in the event of a liquidity constraint or default by a depositary (custodian for our collateral), or in the event of a temporary disruption with the domestic payments system that would delay payment of settlement variation between us and our clearing firms. Clearing firm guaranty fund contributions received in the form of U.S. Treasury securities, Government agency securities or money market mutual fund as well as the performance bond assets of a defaulting firm can be used to collateralize the facility. The line of credit provides for borrowings of up to $1.0 billion. At June 30, 2011, guaranty fund collateral available was $3.3 billion. We have the option to request an increase in the line from $1.0 billion to $2.0 billion. In addition to the 364-day fully secured, committed line of credit, we also have the option to use the new $1.0 billion multi-currency revolving senior credit facility to provide liquidity for our clearing house in the unlikely event of default.

Looks like the word unlikely should read WHEN.

Wed, 12/14/2011 - 00:15 | 1977427 strannick
strannick's picture

Yeah, or he might have an anvil accidently dropped on his head

Wed, 12/14/2011 - 01:37 | 1977650 cbxer55
cbxer55's picture

Wile E. Coyote always managed to survive those types of encounters. ;-)

Wed, 12/14/2011 - 11:32 | 1978724 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Yeah, but he's a super-genius.


Wed, 12/14/2011 - 00:16 | 1977438 sitenine
sitenine's picture

Convictions God Damn It!  We Want Convictions!!!

Corzine is just the beginning!  We want these douchebags in jail!

Wed, 12/14/2011 - 01:16 | 1977603 Fred Hayek
Fred Hayek's picture

Sure, but I'd pay a cable pay per view fee just to see the perp walk. $29.95 to see Pacquaio vs. Sanchez? No way. $59.95 to see Corzine dragged from his mansion in handcuffs and leg irons and made to shuffle out past the gated community's guard shack? Yes!

I only wish Howard Cosell was still around to be 10 feet away shouting into a microphone, "Down goes Corzine! Down goes Corzine! Down goes Corzine!" as ugly troll Corzine is dragged past the topiary.

Wed, 12/14/2011 - 03:47 | 1977769 Widowmaker
Widowmaker's picture

!!! CRUCIFY HIM !!!  shouts the court of the headline-reading public !!! CRUCIFY HIM !!!

To whit, I'm guilty of it too -- and am now waiting for Ashton Kutchy to come out and yell punked.


Wed, 12/14/2011 - 01:30 | 1977634 mt paul
mt paul's picture


is the lindsey lohan

of the financial crisis...

Wed, 12/14/2011 - 06:09 | 1977888 stacking12321
stacking12321's picture

the only reason i know who lindsey lohan is, is because i watch robot chicken

what's your excuse?

Wed, 12/14/2011 - 06:48 | 1977906 NewThor
NewThor's picture

Mean Girls is a really good movie.

Wed, 12/14/2011 - 10:29 | 1978356 Mikehy
Mikehy's picture

Not to be an asshole, but watching Robot Chicken rarely makes someone the arbiter of what parts of pop culture are "cool" to know.

Wed, 12/14/2011 - 11:33 | 1978738 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Lindsey Lohan is about as easy-to-avoid as carcinogenics...

Wed, 12/14/2011 - 03:28 | 1977800 Shadowsil
Shadowsil's picture

Obama will let him go to jail. His secrets will stay there with him.

He will be the fall man for Obama to get re-elected on, and he will use him as an example that he is for the people or some shizzle!


Obama " See folks, I am doing good trying to stop the evil bankers from taking your money, I threw one in jail blah blah blah Bam."

Wed, 12/14/2011 - 07:17 | 1977931 spankfish
spankfish's picture

You got the shizzle part right.

Wed, 12/14/2011 - 00:03 | 1977367 Crisismode
Crisismode's picture


Wed, 12/14/2011 - 00:26 | 1977465 DormRoom
DormRoom's picture

two scenarios.


1)They cut a deal with Duffy, threw Corzine udner the bus, so he'll give someone up from JPMorgan.  Then the administration goes after someone there, and Obama is seen as nailing a wallstreet fat cat.

2)Someone @ JPMorgan wants Corzine to go to jail, where he'll quickly get shanked, and the secrets die with him.


JPMorgan wants to bury something.  Either trades, or Corzine.

JPMorgan is power.  Corzine is muscle.

Wed, 12/14/2011 - 00:39 | 1977492 LowProfile
LowProfile's picture


3) Duffy cut a deal.  Period.

Wed, 12/14/2011 - 00:44 | 1977503 DormRoom
DormRoom's picture

there could be more.


someone (sabra1) mentioned how Comex-JPMorgan could be hiding some info about a Nov. Silver  default that Corzine may have been privy to.


If so, they'd want him to shut up.  And they can only be sure one way--If the secret is buried with him.


There's something suspicious going on between MFGlobal-JPMorgan-Comex.  If only the US still had investigative journalists!

Wed, 12/14/2011 - 02:59 | 1977777 Widowmaker
Widowmaker's picture

Don't ever show that Krasting mutherfucker this, but I'm waiting to hear what he has to say.

Maybe there are "others" that will follow with deep investigative reporting, knowing there is a growing audience.

Wed, 12/14/2011 - 01:23 | 1977615 Zero Govt
Zero Govt's picture

Duffy cut a deal

...with Republicans

Wed, 12/14/2011 - 01:49 | 1977672 freedserf
freedserf's picture

Duffy just threw the Justice Department a bone. Nice doggy!!

Wed, 12/14/2011 - 08:27 | 1978046 j0nx
j0nx's picture

Puhleeze. The only thing the 'justice' department is interested in is state governors who have the gall to try and stop illegal immigration from overrunning their state resources. But then again, Americans allow this behavior to continue so it does. I don't feel sorry for any of us as we stand idly by and let these sociopaths ruin us.

Wed, 12/14/2011 - 08:00 | 1977985 TheFourthStooge-ing
TheFourthStooge-ing's picture

Thus spoke Zero Govt:

Duffy cut a deal

...with Republicans

There is only one party. Those who see two are still asleep.


Wed, 12/14/2011 - 00:25 | 1977466 Unprepared
Unprepared's picture

The best part would be if he pulls a "Kenneth Lay": reportedly dying of a heart attack even before seeing what the inside of his cell looks like.

Wed, 12/14/2011 - 00:32 | 1977479 NewThor
NewThor's picture

I was just about to post this.

I, too, predict a Ken Lay.

Fake heart attack. Then facial reconstructive surgery.

then hookers and margaritas in a far away land.


Wed, 12/14/2011 - 01:01 | 1977552 DrSandman
DrSandman's picture

You believe that shit? I've got some OTM Apple Calls that I'd love to sell you...

Wed, 12/14/2011 - 08:06 | 1977994 Bicycle Repairman
Bicycle Repairman's picture

I was going to celebrate and now I know how: hookers and margaritas.

Wed, 12/14/2011 - 01:46 | 1977665 freedserf
freedserf's picture

Everything has to be paid for in this world or Ying and Yang will be heartbroken.


<<accept reason>>

Wed, 12/14/2011 - 02:59 | 1977778 cahadjis
cahadjis's picture

It's idiotic beliefs like this that help these people get away with it! You really think there is an afterlife? For this guy to be punished? No mate, convict him NOW or he's forever gotten away with it. Don't wish some imaginary god to do the punishing for you.

Wed, 12/14/2011 - 09:05 | 1978121 Pope Clement
Wed, 12/14/2011 - 07:32 | 1977951 Papasmurf
Papasmurf's picture

I don't think Luciferian's worry much...

Tue, 12/13/2011 - 23:55 | 1977344 Larry Darrell
Larry Darrell's picture

To the question of WHY??

Simplest answer is probably correct......the self cannabilization has begun in earnest.

Run with the thought experiment from the previous post: Corzine blew it up on purpose. 

Caveat: he didn't realize he was being played by the people on the other side of the bet and that they are NOT going to compensate him, but rather toss him to the wolves.  This guy testifying that Corzine lied under oath is on the payroll for those on the other side of the bet, and he said exactly what they told him to say. 

To say that he veered from his script assumes his script was supposed to support Corzine.  In reality, he read his script just the way it was planned.

Wed, 12/14/2011 - 00:36 | 1977486 Milton Waddams
Milton Waddams's picture

Why?  Because guys like Corzine ruin the racket for everyone else.  His actions only serve to further dimish the pool of available capital to be accumulated by more, um, honest (legal?) looting.  It's the same reason the SEC makes big targets out of penny stock jobbers- their relatively unsophisticated swindles give the more sophisticated ones a bad name and scare money away from the market. Corzine's actions, if true, are a threat to the inner sanctum's golden goose and his chances of being made an example of are higher than most right now.

Wed, 12/14/2011 - 00:41 | 1977502 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

I got an even simpler why for ya.  He's covering his own ass.  "CME Group has provided this information, the names of these individuals to the DOJ and CFTC who are investigating these matters."  This particular secret was already out of the bag.  He didn't want to have to answer questions later about how he forgot to mention such relevant information.

Wed, 12/14/2011 - 07:34 | 1977953 Papasmurf
Papasmurf's picture

What was the point of giving this shit to DOJ?  Now they have to build a case and shred it.

Wed, 12/14/2011 - 10:11 | 1978286 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

It was "A CME auditor" on the conference call.  Didn't say who handed the info over to DOJ.  I guess someone over at CME thought they were supposed to do the right thing.

Doesn't matter.  How many people were on that conference call?  You can't keep something like that secret when too many people know about it.  What you can do, is attack this employee who spilled the beans on the conference call.  How does he know what Johnny knew?  More hearsay?  Will whoever he heard it from deny they ever said such a thing?

Wed, 12/14/2011 - 01:25 | 1977606 candyman
candyman's picture

As in the Dexter episode,  here is the "Lake of Fire". Lets see if Corzine can swim underwater to avoid punnishment.

Wed, 12/14/2011 - 02:23 | 1977732 Buck Johnson
Buck Johnson's picture

I can't believe Corzine went out their and didn't plead the fifth with this information possibly being out there.  I think with this information coming out after his testimony, tells me that he was assured of one thing to not plead the fifth and obfuscate.  Then they will protect him, but once he did it they threw him under the bus.

Wed, 12/14/2011 - 02:48 | 1977767 Mauibrad
Mauibrad's picture

@Buck  Yes.

Tue, 12/13/2011 - 23:48 | 1977315 sunnydays
sunnydays's picture

Why is Corzine walking the streets and not immediately arrested? The M F er stole over a billion dollars.  But it is being ignored.  If any of us stole one dollar out of someone's bank account we would be thrown in jail in two seconds.  If we lied to CONgress we would be thrown in jail.  But Corzine keeps getting a pass!

This is such F ing Bull Shit!

Tue, 12/13/2011 - 23:52 | 1977334 azusgm
azusgm's picture

And how about those rubber checks?

Wed, 12/14/2011 - 00:13 | 1977420 e_goldstein
e_goldstein's picture

When Pigmen burn, do they smell like bacon?

Wed, 12/14/2011 - 00:23 | 1977462 NewThor
NewThor's picture

Does a McRib smell like pork when you burn it?

Wed, 12/14/2011 - 00:40 | 1977498 LowProfile
LowProfile's picture


Wed, 12/14/2011 - 06:14 | 1977889 IamMarla
IamMarla's picture

Ivory Snow flakes and benzine. That is of course bottled, lit and tossed in their direction.

Wed, 12/14/2011 - 07:26 | 1977941 spankfish
spankfish's picture

That's gonna get you a visit from Home Land Security.

Wed, 12/14/2011 - 00:15 | 1977432 dow2000
dow2000's picture

Remember that 134.5 BILLION in Kennedy Bonds confiscated at the Italian/Swiss Border in 2009? On November 23, 2011, the clouds parted. A vast, 111-page legal complaint was filed in the United States District Court for the Southern District of New York . Its very off topic but an old story that is gaining new traction over the last couple weeks on several other "fringe" sites.  Time for the best one to put out the expose, it has HUGE negative implications for the TPTB...TYLER please try and cover this story!

Check links below for details:

and a supporting tell all interview here:    

Wed, 12/14/2011 - 00:53 | 1977529 slewie the pi-rat
slewie the pi-rat's picture


in the last 22 weeks, you have posted here 2X in the first 21 of them

which is fine

but f poeple here had been blogging about this case, would you even know?

Wed, 12/14/2011 - 02:36 | 1977748 EverythingEviL
EverythingEviL's picture

Has anyone looked at this? Does this have a shred of truth to it?

Wed, 12/14/2011 - 03:20 | 1977796 LowProfile
LowProfile's picture

Hard to say, but it's hell of a fun read!

Wed, 12/14/2011 - 07:31 | 1977950 uranian
uranian's picture

it's a genuine case.

Wed, 12/14/2011 - 07:17 | 1977929 richard in norway
richard in norway's picture

who are you calling a fringe site. dont you know that zerohedge is the new mainstream

Wed, 12/14/2011 - 00:15 | 1977433 dow2000
dow2000's picture

Remember that 134.5 BILLION in Kennedy Bonds confiscated at the Italian/Swiss Border in 2009? On November 23, 2011, the clouds parted. A vast, 111-page legal complaint was filed in the United States District Court for the Southern District of New York . Its very off topic but an old story that is gaining new traction over the last couple weeks on several other "fringe" sites.  Time for the best one to put out the expose, it has HUGE negative implications for the TPTB...TYLER please try and cover this story!

Check links below for details:

and a supporting tell all interview here:    

Wed, 12/14/2011 - 04:12 | 1977825 DavidPierre
DavidPierre's picture

Merci! dow2000:

That is a truly WIERD and disturbing read and maybe the Rosetta Stone of the world's financial and political mess. 

Will listen to the interview tonight before sleep.

Tylers, or any legal beagles on ZH, should take a long and detailed look into this lawsuit.


Wed, 12/14/2011 - 04:40 | 1977830 jballz
jballz's picture


This is a complete load of horse shit, and worse, it is outright con artistry designed for stealing.

First float the rumors. Then find suckers who will buy 'real' bonds at way under face value because they are stolen. Except the bonds are fake from the get go.

Then hype the shit out of it, throw in a massive historically epic conspiracy theory, and file it all in a civil court. Anyone can file a lawsuit in a civil court. Classic convincer strategy.

Soon as the sheep fucktard lemmings start running around posting links to the "bona fide court case", you go back to your suckers and tell them you have to off your stolen 'real' bonds in a big hurry and if they are willing to take the heat, they can have them for even cheaper.

The case gets dissed soon as anyone with an IQ over 60 reads or responds to it, the suckers eventually discover they bought bogus stolen bonds that weren't stolen, but who are they going to call? Especially when they already convinced themselves the satanic underbelly rules all. "Hey, the illuminati is onto us, better camp on those bonds you bought for a long while so they don't sacrifice you at the bohemian grove."

Hats off to Fulford, Barnum, and all great cons long forgotten. But you, you are just a fucking idiot for spreading it here. 


ps, here's a 10 year old version of the same con



Wed, 12/14/2011 - 06:05 | 1977858 zhandax
zhandax's picture

I have an IQ a little over 60.  You have any evidence to refute this other than the casting of aspersions?

For starters, who is being stolen from here?  And what is the accused theft?  If you reply 'the American people' you are a certified troll as the case mentioned in the topic of this article reveals that there is no one representing the interests of the American people in the current looting by the kleptocracy.

Secondly, how can bonds being held as evidence be sold at a discount?  Did you even read this shit before trying to discredit it or are you just following a script handed down from your boss at the ESF?  Go back to getting the attorney general to ignore it as the useless idiot he is (shouldn't take more than a phone call).

Wed, 12/14/2011 - 15:37 | 1979916 jballz
jballz's picture


This has nothing to with 'The American People'. and I doubt your IQ is much over 60.

Who is being stolen from in this instance is unkown persons which we refer to as "marks" in the con world. The third leg is not part of the public story. One of the con artists approaches the marks with a story that they have acquired some number of millions/billions of the imaginary bonds and wish to dispose of them. Then the public story is hyped into outlandish ridiculousness, with some formal investigation at the end as a convincer. The marks (you would be a good one if you had any money) will read that this is a real case, which means the bonds must be real too. The cons then offer to sell their stash way under face value to the marks but they have to hurry...blah blah blah.

Once the transaction is made, the marks pay real cash for fake bonds, then you call the marks and tell them whatever ridiculous story is needed to get them too scared to go to a bank and try and cahs them...which in  this case is obviously built into the initial pitch in a dozen different ways.

As for the 'confiscation' of the evidence, all you need do is convince the marks that 100 million or so of the 134 billion evaded capture and can be yours for only a penny or 10 on the dollar. Anyone gullible enough to believe there's 130 billion in 1934 series public debt is gullible enough to believe anything.

It's a long con. Probably good for high-six to low seven figure score for Fulford and his buddies.

PS- as for the law firm, all they have done is file a civil complaint in a civil court on behalf of a client who paid them to do so. That's what civil lawyers do. You can file a lawsuit against anybody. Please read the link in my original post. Don't be a fucktard lemming sheep,

Fri, 12/16/2011 - 06:42 | 1986295 zhandax
zhandax's picture

Your potential 'marks' got interdicted at the Italian border before there was any story numbnutz.  How do you think this "story" got it's brief day in the press before being buried?

Wed, 12/14/2011 - 07:35 | 1977954 uranian
uranian's picture

apparently William H. Mulligan Jr., with Bleakley, Platt & Schmidt of White Plains, N.Y. thinks it's real enough to prosecute.

Wed, 12/14/2011 - 07:47 | 1977967 topcallingtroll
topcallingtroll's picture

"Conspiracy to kill 4 billion people"
"Offered me the finance ministry of japan"
He was offered GE and would become the main shareholder if he would turn over the bonds to the U.N.

I do have to wonder if the illuminati dragon family one world government U.N. realized that some other shareholders might object.

Monomaniacs often waste a lot of peoples time because they are often well spoken.

A nutcase almost managed to convince a buyer these bonds were real. Please folks dont waste your time like I did.

Classic paranoid delusional nutcase. Story falls apart on internal inconsistencies.

Wed, 12/14/2011 - 00:44 | 1977507 LeonardoFibonacci
LeonardoFibonacci's picture

Erect the gallows, lads.  Once a century or so, it becomes obvious its time to use them again.

Wed, 12/14/2011 - 04:21 | 1977834 ZippyDooDah
ZippyDooDah's picture

Pitchforks, kerosene, guillotines.

Wed, 12/14/2011 - 01:43 | 1977658 vast-dom
vast-dom's picture

Should be jailed with or without those 3 sentences.

Wed, 12/14/2011 - 02:43 | 1977758 Silver Bug
Silver Bug's picture

Hopefully someone finally acts and does something in the system, this guy needs to rot, along with many others. But he will be a good start.

Wed, 12/14/2011 - 04:02 | 1977820 IamMarla
IamMarla's picture

I want him to live. In POVERTY WITH NO CHANCE OF EMPLOYMENT EVER AGAIN: NO PRISON THAT OFFERS HOUSE KEEPING AND MEALS A FARM IN MISSISSIPPI OR ARKANSAS OR LOUISIANA would be just fine. But of all things I want that twat-less wonder to live. Maybe he could take a high dose of DMT as part of his sentence so monsters can chase him around for Eternity. MTF live so I can see you suffer.

Tue, 12/13/2011 - 23:27 | 1977208 midgetrannyporn
midgetrannyporn's picture

The DOJ. LMAO!!!

Tue, 12/13/2011 - 23:36 | 1977246 Problem Is
Problem Is's picture

DOJ Switchboard: "Department of Justice. How may I direct your call?"

DOJ Switchboard: "Mr. Holder? I do not believe Mr. Holder has reported to his first day of work yet. May I take a message in the event he arrives before January 20, 2013?"

Tue, 12/13/2011 - 23:35 | 1977210 I am a Man I am...
I am a Man I am Forty's picture

he said that he had just found out the info from his lawyers cuz they interviewed the cme employees


and maybe Terry thinks he should tell them all the relevant information so he doesn't wind up in prison, and maybe he got pissed off cuz his employees were having to work on Sundays at 2 in the morning screwing with this crook that is costing him money

Tue, 12/13/2011 - 23:42 | 1977279 DeadFred
DeadFred's picture

Mr. Duffy, be sure to lock your doors tonight.

Tue, 12/13/2011 - 23:46 | 1977304 NewThor
NewThor's picture

I forget, How did they kill the guy that ratted out Rupert Murdoch on the hacking scandal?


Tue, 12/13/2011 - 23:59 | 1977362 Crisismode
Crisismode's picture

They stuffed his throat full of "News of the World" rolled-up newspapers and he suffocated to death.

Tue, 12/13/2011 - 23:48 | 1977312 Big Slick
Big Slick's picture

Does this mean that Ann Margret's NOT coming?

Tue, 12/13/2011 - 23:28 | 1977211 unwashedmass
unwashedmass's picture

What happened to Terry? Overwhelmed by the Senate? Suddenly couldn't hang with the script? Couldn't do it? A moment of courage to do the right thing? ...well, you could see all day that Corzine and crew expected to walk ....crocodile tears and all......and at the end of the day, the fix was in.....and they were gonna skate.....

and now....what a monkey wrench. the gang of thieves may have to sacrifice him.....can't keep up the pretense that there is a rule of law if you let something like this go by.....


Tue, 12/13/2011 - 23:34 | 1977245 NewThor
NewThor's picture

Don't get too excited.

Financial crimes are hard to prosecute because the language is 'vague'.

Liberty and Justice for all!*

Tue, 12/13/2011 - 23:44 | 1977292 azusgm
azusgm's picture

Maybe Gerald Celente and Warren Pollack are getting on his nerves. By now Duffy should be feeling the need to explain why Corzine can't screw the customers and expect the CME to pick up the tab.

Tue, 12/13/2011 - 23:56 | 1977349 Chuck Walla
Chuck Walla's picture

They can easily keep up the pretense. Holder does and hardly anyone sez "boo". Jonnie Bags has been a good soldier and a real earner, that should mitigate a lot of damage.

Wed, 12/14/2011 - 07:43 | 1977963 terryfuckwit
terryfuckwit's picture

am just fine thanks

Tue, 12/13/2011 - 23:29 | 1977213 loveyajimbo
loveyajimbo's picture

So we expect Holder to pull his finger out?  really?  Think maybe Gensler is sweating a little?  What a bunch of scum, all will cut deals, Blankfein will continue do do God's work (shearing the sheep).  It is to retch it is getting so smelly...

Wed, 12/14/2011 - 08:02 | 1977987 topcallingtroll
topcallingtroll's picture

Holder may not have the intelligence to proceed with any complicated prosecutions.

If he is anything like the affirmative action types whose applications for med school were reviewed by me and the remedial tutoring office there is no hope. University of Arkansas was admitting people to med school that tested at less than high school level on reading comprehension and writing skills.

They got weeded out because they couldnt pass the NBME/USMLE after their second year, sadly after adding another thirty thousand or so in student debt.

I would love to give holder an SAT and ask him to take whatever objective national tests are now used to determine reading comprehension percentiles in high school.

It would probably explain a lot.

Tue, 12/13/2011 - 23:29 | 1977214 ebworthen
ebworthen's picture

Maybe they are letting Corzine fry, instead of a bigger fish.

It is an election year.

Tue, 12/13/2011 - 23:38 | 1977262 jeff montanye
Tue, 12/13/2011 - 23:29 | 1977216 ShankyS
ShankyS's picture

The way I see it, Corzine's resume for Treasury Secretary is getting a massive boost. 

Tue, 12/13/2011 - 23:35 | 1977247 Breaker
Breaker's picture

"The way I see it, Corzine's resume for Treasury Secretary is getting a massive boost."

Best comment on the thread.

Tue, 12/13/2011 - 23:41 | 1977272 Octavio Richetta
Octavio Richetta's picture

One of the best comments I've read anywhere!

Wed, 12/14/2011 - 00:59 | 1977546 Pythaes
Pythaes's picture

kudos...just like geithner...he got his job because his most recent contacts were the ceo's of the potentially bailed out banks...its who you know and can trust...the most valuable thing to get ahead is having an ongoing dialogue with the right people...not to mention that timmay had the keys and the routes to every overloaded Brinks truck in manhattan.

Wed, 12/14/2011 - 07:42 | 1977961 spankfish
spankfish's picture

Better the thief you know?

Tue, 12/13/2011 - 23:29 | 1977217 midgetrannyporn
midgetrannyporn's picture

Eric Holder, the moist feared man on Wall Street.










Tue, 12/13/2011 - 23:39 | 1977269 jeff montanye
jeff montanye's picture

imo holder will get more moist with fear before this whole thing (the obama administration) plays out.

Wed, 12/14/2011 - 00:06 | 1977395 XitSam
XitSam's picture

AG Holder: I was too busy dodging Mr. Issa's questions and burning Fast & Furious documents to worry about the day to day investigation of a mere 1.2 billion dollars. And given the administration's close ties Mr. Corzine, as well as Mr. Corzine's statement that he is very sorry, I decided it was not worth pursuing the matter.

Wed, 12/14/2011 - 00:21 | 1977452 NewThor
NewThor's picture

HOLDER - "You're all ignorant. I have been working 24/7 stopping people from growing marijuana. Don't you people see that pot smokers are the root of all evil and crime? Don't you mother fuckers read your mother fucking Bible? Fuck you, you stupid fuckers."

Wed, 12/14/2011 - 00:39 | 1977493 azusgm
azusgm's picture

HOLDER: What you people don't understand is the problem with marijuana is that some of those pot growers might stoop to growing their pot organically. Those pot growers are dangerous to our economy too because of the cost to the tax payers for the black helicopters and SWAT raids for the organic operations. Organic marijuana could lead to organic carrots or organic tomatoes. Then where would we be? Pot growers don't even buy their seeds from Monsanto.

Tue, 12/13/2011 - 23:30 | 1977219 Muddy1
Muddy1's picture

I trust Mr. Duffy has security, a good car mechanic, and keeps his wits about him.

Tue, 12/13/2011 - 23:41 | 1977273 jeff montanye
jeff montanye's picture

food taster, geiger counter, kevlar long johns ....

Tue, 12/13/2011 - 23:48 | 1977314 NewThor
NewThor's picture

House without windows.

Wed, 12/14/2011 - 00:11 | 1977411 Saro
Saro's picture

Selling his hot tub as we speak . . .

Wed, 12/14/2011 - 02:00 | 1977687 MsCreant
MsCreant's picture

No plans for air travel in the near future...

Tue, 12/13/2011 - 23:30 | 1977221 HD
HD's picture

Call me jaded - but Corzine will skate free.  No one that high on the food chain ever pays a price beyond being called on the carpet in front of congress. Love to be wrong - but we all know the game is rigged.

Tue, 12/13/2011 - 23:53 | 1977340 jeff montanye
jeff montanye's picture

then there was watergate: over two dozen officials got jail time, many of them high ranking (attorney general mitchell 19 months served).  but that was then and this is now.  apparently now one does need a weatherman to know which way the wind blows.

Wed, 12/14/2011 - 02:00 | 1977690 Cathartes Aura
Cathartes Aura's picture

they own the "weatherman" now too, y'know. . .

E.L. Rothschild LLC, a private investment company led by Chairman Sir Evelyn de Rothschild and CEO Lynn Forester de Rothschild, today announced the signing of a definitive agreement to acquire a 70% interest in Weather Central, LP (

they make the weather, then they tell you about it. . .

Tue, 12/13/2011 - 23:31 | 1977222 Problem Is
Problem Is's picture

You're not suggesting Corzine's lunch could consist of beans, mystery meat, Jonathan Pollard, and Bernie Madoff are you?

Tue, 12/13/2011 - 23:30 | 1977223 BigInJapan
BigInJapan's picture

Long Vaseline!

Tue, 12/13/2011 - 23:35 | 1977250 metastar
metastar's picture

Corzine will be Bubba's bitch.

Bankster bitchez for Bubba in 2012!

Tue, 12/13/2011 - 23:30 | 1977224 sabra1
sabra1's picture

jim willie:

We had a COMEX system failure in November.  COMEX was ready to default on gold and silver in November.  Rather than honor delivery demands in gold and silver- JP Morgan simply stole the money in the accounts that were going to stand for delivery.  They had their pockets picked while they were standing in line at the delivery window.  Notices of delivery were replaced at stolen accounts!

Tue, 12/13/2011 - 23:37 | 1977256 metastar
metastar's picture

This should be the real focus of investigation.

+1637.80/oz to you.

Tue, 12/13/2011 - 23:53 | 1977341 seek
seek's picture

Celente said as much, saying he recieved a "revised" statement that magically removed the contracts he had.

I think Jim is right on this one. COMEX defaulted, and MFG is the way they fixed the problem. Thing is, while MFG may have been the largest volume participant on COMEX, someone who's smart with deep pockets and access to smaller players can really fuck COMEX up good now, since they exposed the details.

I wonder is Sprott has the cajones to pull the trigger on this, or if COMEX has the cajones to try to do to Sprott what they did to MFG clients.

I suspect Corzine was thrown under the bus because the COMEX doesn't want their own dirty laundry (that they're broken) exposed. The stakes just went up a bunch today, folks... time for fresh batch of popcorn!

Wed, 12/14/2011 - 00:02 | 1977379 Larry Darrell
Larry Darrell's picture

"I suspect Corzine was thrown under the bus "


This is my take as well.  We may not know the reason he has been tossed out (i.e. who his sacrifice saves higher up the chain), but to think someone went off script today is taking TPTB's kabuki theatre too lightly.

Hell, even a good chunk of the critical thinkers here have dismissed this as an accidental slip.


Wed, 12/14/2011 - 00:38 | 1977490 NewThor
NewThor's picture

Nostradamus says the whole flaming shit house falls down when the false copies of Gold and Silver are exposed. Then all Bonds and Paper is wiped out.


Wed, 12/14/2011 - 01:51 | 1977674 Teamtc321
Teamtc321's picture

imo; If that is the case on the Comex, then I would bet the next bag of popcorn that Corzine walk's all in the name of National Security. This is Duffy's cover so they don't have to pick up the tab.

Hush Hush behind the curtain...........

Here comes the vague rule of law on hypothecation, didn't Ogolfer say on 60 min. the other day that the reason no one went to jail when asked in 08' was that they didn't break the law?

Global currency war's are gaining spead it appear's. 


Wed, 12/14/2011 - 03:02 | 1977783 Mauibrad
Mauibrad's picture

So far in reading this whole thread, this JPM-COMEX-MFG angle that a few have commented on seems to be the best angle on what is likely to be happening.

Wed, 12/14/2011 - 07:13 | 1977924 Archduke
Archduke's picture

crazy. source?

Tue, 12/13/2011 - 23:31 | 1977225 FL_Conservative
FL_Conservative's picture

For once, can a lying, theiving, above-the-law crook get convicted? I'm calling for some "leg-iron shuffle"! 

Wed, 12/14/2011 - 01:40 | 1977653 FeralSerf
FeralSerf's picture

Sure they can -- remember Irving "Scooter" Libby"?

Just because one of them gets convicted doesn't mean there's any "leg-iron shuffle" associated therewith.

Tue, 12/13/2011 - 23:31 | 1977228 midgetrannyporn
midgetrannyporn's picture

Maybe the FBI can give Corzine a hand job like they do Blankfein.

Tue, 12/13/2011 - 23:31 | 1977229 Royal Fleming
Royal Fleming's picture

Now if they can implicate his buddy Cramer we can get rid of two assholes at he same time.

Wed, 12/14/2011 - 00:05 | 1977389 DonnieD
DonnieD's picture

Don't forget their other buddy, Spitzer.

Tue, 12/13/2011 - 23:32 | 1977232 Martial
Martial's picture

Looks like Corzine IS the fall guy LOL. He was told they would blame it on some lower level numbnut who barely speaks english...This is classic! Of course the money is still 'missing' and of course someone made tons of $$$ but seeing corzine get betrayed is priceless.

Tue, 12/13/2011 - 23:35 | 1977251 alien-IQ
alien-IQ's picture

Fall guy a-la Scooter Libby. Charged. Tried. Convicted. Pardoned. Where is he now? I guarantee he's living better than you or I.

Tue, 12/13/2011 - 23:39 | 1977265 Problem Is
Problem Is's picture

Old school ZHer speaks truth...

Wed, 12/14/2011 - 00:22 | 1977455 El Oregonian
El Oregonian's picture

Scooter Libby??? "Colon" Powell should'a been the asshole outted out for leaking Valerie Plame's name. That scum bag let Scooter fall on the sword for that one. Look it up.

Wed, 12/14/2011 - 01:26 | 1977629 Dr. Engali
Dr. Engali's picture

Do you really think anybody was outed ? Seriously ? That made some good theatre that's about it. If Colonascamy Powell should be held guilty for anything it's his support for the Iraq war and that ridiculous U.N. speech. The one where he showed photos of semi's from the 60s and said they were weapons of mass destruction.

Wed, 12/14/2011 - 02:06 | 1977700 MsCreant
MsCreant's picture

Amen. That guy knew better and did it anyway. He said as much, later.

Wed, 12/14/2011 - 07:50 | 1977970 spankfish
spankfish's picture

But but but... war is the health of the state.

Wed, 12/14/2011 - 07:06 | 1977915 Burr's 2nd Shot
Burr&#039;s 2nd Shot's picture

You know, of course, that Libby was never pardoned, but had his sentence commuted instead.  Not the same thing at all.

Tue, 12/13/2011 - 23:32 | 1977233 alien-IQ
alien-IQ's picture

The odds of Corzine doing any real time in a real pound me in the ass prison are about the same as the odds of Jessica Alba showing up at my door, dropping to her knees and blowing me.

If you believe the American justice system works...then you've simply been watching WAY TOO MUCH television.

Tue, 12/13/2011 - 23:37 | 1977261 Problem Is
Problem Is's picture

+1... Well said...

Wed, 12/14/2011 - 00:05 | 1977390 Potemkin Villag...
Potemkin Village Idiot's picture

You had me at "Jessica Alba showing up at my door, dropping to her knees and blowing me"

Wed, 12/14/2011 - 00:15 | 1977429 XitSam
XitSam's picture

He may do real time. We'll know if he played his part correctly if he gets a pardon on January 19, 2013.

Wed, 12/14/2011 - 07:52 | 1977972 spankfish
spankfish's picture

Im long Jessica Alba.

Tue, 12/13/2011 - 23:33 | 1977236 navy62802
navy62802's picture

10-1 odds Terrence Duffy doesn't make it another week.

Tue, 12/13/2011 - 23:34 | 1977244 SHEEPFUKKER

They'll just put some other goon in charge. 

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