Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers?

Tyler Durden's picture

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navy62802's picture

I said it back then and I say it now ... there are many Madoff's out there. We just haven't found them yet. Hell, no one is out there trying to find them.

azusgm's picture

Harry Markopolous is trying. He found BONY. Of course not enough is happening there since it is mostly J6P's pension money being stolen.

navy62802's picture

It's not that there aren't a few people here and there trying to find the fraud. It's that the overarching system works against that ultimate goal. The regulatory system is so colluded with the major Wall Street players that it's effectively impotent. What's more, I personally feel that our markets are so wrought with fraud that if said fraud was completely ferreted out of the system, our economic system would cease to exist in its present form.

Freddie's picture

Oddly enough - two of the biggest whistle blowers were Greek-Americans.  James Chanos and Harry Markopolous.  Kudos to both of them.

nmewn's picture

Inject the damned Stox-net before they get away!

Hulk's picture

Jail ? Yah right. Thats sooo 90's...

CClarity's picture

The banks don't want a credit event in Europe and are undertaking lots of "voluntary" actions to avoid that classification.

My guess is some banksters are going to "magnanimously" return some gigantic bonuses or some symbolic act so as to keep the judges and jailors at bay.  But this is where the likes of OWS may actually break through and shake the attention away from the campaign contribution crazy pols.  Naw, that is just a dream on Halloween.  I'll be back to normal cynic status by All Saints Day or Day of the Dead/Dan Mrtva/Dia del Muerto) or the time when life and death are at their closest reach - depending on your bent.

wardawg12's picture

F- me, just f- me

Sofa King's picture

You all need to see Rollover!  Never mind the bullshit romance between the main characters, the banking stuff incredible...puts that Andrew Ass Sorkin piece of shit to shame.

Mercury's picture

Hey, not bad.  Didn't know about this one.  It's not easy to dramatize numbers on screens either....but global financial melltdown sure is an attention grabber - now even more than 1981:

http://www.youtube.com/watch?v=WI8dfFN7H1w&feature=related

Money market funds are a fucking powder keg right now too.  Ouch.

 

navy62802's picture

That's a very eery clip to be watching on this Halloween. The Chinese could do something like this, though it would undoubtedly lead to their own economic destruction as well.

ricocyb13's picture

WOW

this movie has been made in 1981 ???

Outlaw Of The Wasteland's picture

no one is jewier than that smiling rat faggot.

looks like horowitz from Bad Boys all growed up.

what a punchable jew.

Mercury's picture

Makes you wonder which bucket of cash is designated for Corzine's golden parachute.....

http://www.zerohedge.com/news/did-jon-corzine-just-get-121-million-golde...

 

penisouraus erecti's picture

Probably some sort of high level appointment to the newly re-elected Obama administration in a early 2013

knukles's picture

No way.
Most of the back office types I've known (and always cultivated close relationships with them as a matter of good business sense) would not take actions such as that upon themselves.  Always instigated by the higher ups.  Then when the poop splatters, it'll unltimately be the back office guys who take the rap.
Either way, such actions approved, unapproved or done with no knowledge thereof, are the direct responsibility of the Grand Fromage.
But then again, when the GF is a past major fund raiser, Governor, Senator...  oh why even bother. 

It's all fucked up.  Again.
Oh, there'll be frothing in the aisles, pledges to clean up the system, etc., ad hoc, vootie and nothing the fuck will change.

Who fucking cares anymore.   This shit is the New Normal.

Mike2756's picture

I'm not so sure about that, people are pissed. Not quite Cairo pissed but, getting there.

knukles's picture

Indeed, it's Palpable.  I hope more peole get pissed.  There must be a rising broad based anger to engender any change in the kleptocracy.

DoChenRollingBearing's picture

WHAT, WHAT, WHAT, WHY, WHY, WHY was I screaming about Jon Corzine earlier today???!!!

He is the dirtiest POS on planet Earth!

 

Do I sound pissed?

Carlyle Groupie's picture

Fuel for the Occupants. Now can I please witness some violence?!

nmewn's picture

Maybe building a few more condos to demolish would help ;-)

nmewn's picture

Oh my...unicorns mating with dragons.

"In a sign manufacturing growth is moderating, new orders placed at Chinese shipyards in the first nine months of the year dropped 42.8 percent, the Ministry of Industry and Information Technology said on its website on Oct. 20. Guangzhou Shipyard International Co. said last week its third-quarter net income dropped 45 percent from a year earlier due to higher costs and an impairment provision for shipbuilding contracts."

disabledvet's picture

what's an "impairment provision"?

slewie the pi-rat's picture

it provides for two ims, BiCheZ!

dwdollar's picture

Watching Nightly Business Report this evening you'd think this was 1999 all over again. I suspect the short squeeze is over and this is the catalyst.

deebee's picture

this will be a civil matter with a $200 fine (to cover admin fees)

TheFourthStooge-ing's picture

...and no admission of wrongdoing.

 

TooBearish's picture

If there is any element of truth in this, which for me is not a huge leap of faith - THIS IS AN ATOM BOMB

penisouraus erecti's picture

I hate those rich republicans like Corzine..........

ReallySparky's picture

I think they will have to quickly arrest a bunch of people this time, because there is no political will to do another bailout. Corzine is going to be locked up and become wall streets poster boy. How else can they keep the status quo? If they are smart tomorrow, they arrest them all and ask questions later.

DoChenRollingBearing's picture

One more time...

WHAT, WHAT, WHAT, WHY, WHY, WHY was I screaming about Jon Corzine earlier today???!!!

He is the dirtiest POS on planet Earth!

Pumpkin's picture

Some poor client that had all their money stolen will go to jail, is my guess.

High Plains Drifter's picture

watch cramer tomorrow..........oh jon is a good man. he didnt do anything wrong. i am sick of these blogs trying to say that he is a crook. blah blah blah.......

disabledvet's picture

Jimmy's a good guy. That's a fact. He's so good in fact "he can't see the evil in others." And that's a fact.

stant's picture

 i am shocked there is gambaling in this establishment !! round up the usual suspects

The Fonz...before shark jump's picture

This is one of those scandals where someone kills themselves...like that executive from enron ( not Kenneth lay, that guy faked his own death) that other guy Baxter killed himself....just watch some bodies are gonna start dropping

seek's picture

I agree, the political liability here is far too big. You've got the President on record saying Jon Corzine is his "wall street guy," and he's on the Treasury Secretary shortlist.

Meanwhile there's thousands of protestors in the streets, daily, pissed about Wall Street.

If they go after Jon Corzine, he probably knows enough to cause problems. If they don't, that's a political liability in itself. The only outs I see are getting rid of anyone who knows anything, or doing a sham prosecution that both sides are "in" on that drags out past the election.

This is a huge problem for the top levels of government and wall street. I'm surprised we're even hearing about it, it makes me suspicious that it's a ploy of some sort.

 

malikai's picture

All I know is the next election will be hilarious indeed.

i-dog's picture

There won't be a next election.

Oh regional Indian's picture

Spot on again. If there is one, it will be a proper Banana Republic one, with one candidate. Only.

ORI

TheFourthStooge-ing's picture

I would find this surprising. The current American one-party system, in which the Party runs its Red candidate against its Blue candidate, has been extremely successful in cultivating an illusion of choice and keeping people occupied with controversial, yet inconsequential, wedge issues.

Any significant deviation from this scheme would indicate more than just shit hitting the fan. It would be more like the waste stream of a factory hog farm meeting the turbine blades of a wind tunnel.

 

bobert's picture

I've a feeling that this life has become a very dangerous place for Jon.