Saturday, May 26, 2012

Frontline takes on Jon Corzine: How Corzine steered regulators, twisted the rules, and made a fatal six billion dollar bet...

Now Corzine is just bundling cash for Barack Obama's re-election effort
Frontline:  Jon Corzine's Six Billion Dollar Bet

Zero Hedge explains:
While the sur-realities of just what Corzine and the rest of the MF Global 'traders' did has been extensively discussed here and elsewhere, PBS' Frontline provides the most succinct (and relatively in-depth) documentary on just what occurred from how the corrupt CEO lobbied regulators who had the power to stop his risky bets to the endgame realization of the missing customer money. A narrative, not just of "a bet that went bad," but "a Wall Street morality tale." Must watch! 
The story of Jon Corzine, the former head of Goldman Sachs and political power broker, who took over MF Global in the spring of 2010 with oversize ambition and a passion for risk. But after a massive bet on European debt turned sour, the firm lay in ruins, with more than a billion dollars of customer funds missing.
Why isn't Eric Holder prosecuting Jon Corzine for this?  Good question.  

1 comment:

  1. It is sad, but the probability of Corzine being prosecuted is roughly the same as mine for wining the mega Millions Lottery. Actually, I have a much better chance of winning the Lottery, if only I'd buy a ticket.

    The feds are too busy prosecuting base ball players for fibbing. Anyway, how can Holder prosecute Corzine when he can't tell the truth himself to Congress. Since Holder has the keys to prosecution, move on now, nothing to see here ....


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