ę White House Spokestool Jay Carney Defends Biden By Taking A Swipe At Sarah Palin | Main | No, Seriously, Romney's Running on Medicare Ľ
August 16, 2012

Good News: You Can Now Officially Steal $1 Billion From Your Customers And Avoid Proseuction, As Long As You're Hooked Up With the Self-Styled "Party of the Common Man"

Special people have special privileges.

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

After 10 months of stitching together evidence on the firmís demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.

I don't know why we're talking about porous risk controls because this is not money which was improvidently invested. This is money which simply vanished.

A billion dollars of customer money just disappeared -- it wasn't lost in bad investments, it was lost as in "I can't find it" -- and apparently there is no criminality here.

People lose wallets. They lose cell phones. They lose pencils. They lose lighters.

They tend not to lose a billion dollars. Not without someone wishing it be "lost."

Points and Figures has some expert insight into the swindle:

fter speaking with CCC lawyer James Koutoulas, and other pro traders I have no doubt that money was stolen from customer segregated funds. There is just too much smoking gun evidence. Anyone with experience in the industry would be able to sift through the legal machinations and malarky to understand the deception involved. If this were adjudicated in an Arbitration or Probable Cause Committee at an exchange, I am relatively confident that Corzine would be found guilty based on the circumstantial facts that I know.

But what you don't know is this guy is one of Obama's biggest bundlers and a high ranking apparatchick in the Democratic-Corporate State.


digg this
posted by Ace at 03:12 PM

| Access Comments




Recent Comments
The Great White Scotsman: ">>>>3 pound chuck roast, 1 package of ..."

Anna Puma (HQCaR): "So give the Moron Cookbook as Christmas presents.N ..."

Witch in the woods: " [i]So. It's a children's cookbook? Posted by: r ..."

Duke Lowell: "Punk monkey is up. ..."

Duke Lowell: "Dumb luck. I'll fetch the others ..."

Duke Lowell: "st ..."

Treebeard: "---I did hear the bomb was made from tightly fitte ..."

Downcast : "Is it worth noting that The Donald invading a wome ..."

Steve and Cold Bear: "[i]It will not work, will not sway anyone, and is ..."

kraken: "469 363 Other than chili, crock pot meat comes out ..."

McCool: "[i] Muslims are very peaceful people. But if you u ..."

geoffb: "I'm doing really slow cooking. Chuck roast, season ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64