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November 02, 2011

FBI: You Know, Maybe We Should Investigate Jon Corzine
Obama: You Know, I Think Maybe I'll Return One Of My Top Bundler's Donations

FBI investigation. JohnE., I think, has been emailing this story for a few days.

Jon Corzine, now the center of an FBI investigation into the handling of hundreds of millions of dollars invested in his securities firm, was one of the leading Wall Street fundraisers for President Obama’s campaign and suggested to investors that he might take a top administration post if the president were re-elected.

His new legal troubles, sparked by the bankruptcy filing of his investment firm, MF Global, could complicate the president’s efforts to raise money from the financial community given Corzine’s central role in those efforts.

...

“He’s one of our volunteer fundraisers,” said the campaign official when asked about Corzine, adding that the president’s is the only presidential campaign that discloses the identities of its bundlers.

Oh, is that all he is? just one of your volunteer fundraisers. Cute little note: Corzine's company issued bonds that promised a 1% extra bounty if Cozine were called to DC by Obama to take a top administrative job (Treasury, it is assumed).

But he's just one of our many, many volunteer fundraisers.

The investigation into Corzine’s firm, MF Global, was triggered by reports of hundreds of millions of dollars in missing funds and findings by regulators that MF Global may have broken rules requiring it to keep client’s money and company funds in separate accounts.

Okay, so this guy was comingling funds, it is alleged, and worst yet, lost those funds. That's always where the problem comes in. See, you can commingle until the cows come home. As long as you don't lose it. Then no one's the wiser.

It's really the losing it that gets ya.

Now the Obama campaign says maybe it will return funds from this volunteer fundraiser.

President Barack Obama's re-election campaign would return the donations made by embattled MF Global chief Jon Corzine if he were charged with any wrongdoing, a campaign official said on Wednesday.

If.

I think it's a good time to ask Obama and Nancy Pelosi again if some Wall Street guys, like, specifically, Jon Corzine, should just be carted off to jail.


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posted by Ace at 05:45 PM

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