FBI, Federal Prosecutors to Join Inquiry Into firm run by Goldman Sachs Alumni, Jon Corzine
source: http://www.nbcnewyork.com/news/local/Jon-Corzine-MF-Global-Securities-Investments-Investigat...
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- Dagum
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http://www.nbcnewyork.com/news/local/Jon-Corzine-MF-Global-Securities...
The SEC has already begun a probe into the collapse of MF Global.Federal prosecutors and the FBI are set to join the inquiry into what happened to hundreds of millions of dollars invested with a securities firm headed by former New Jersey Gov. Jon Corzine, officials familiar with the case told NBC New York.
The Justice Department involvement comes as the Securities and Exchange Commission and the Commodities Future Trading Commission have said their own inquiry is underway into the collapse of the brokerage firm, MF Global Holdings Ltd.
The head of the Chicago Mercantile exchange said Tuesday that the firm broke rules requiring it to keep clients' money and company funds in separate accounts.
U.S. Attorney Preet Bharara declined to comment Tuesday as did DOJ spokesmen in New York and Washington. An FBI spokesman also declined to comment.
An SEC spokesman said there are “possible deficiencies in customer futures segregated accounts held at the firm.” The Securities Investor Protection Corporation has announced liquidation of MF Global is now underway.
A spokesman for Corzine and another at MF Global did not return calls for comment.
The former governor and U.S. senator who served on the Senate Banking Committee has not been charged with any wrongdoing. But there are questions as to whether the firm improperly used hundreds of millions of client money to cover bets made by the firm.
Corzine had been seeking to sell his firm in recent days but potential bidders backed out. According to the New York Times, one firm, Interactive Brokers, discovered client investments appeared to be missing, and abandoned its deal.
continued at:
http://www.nbcnewyork.com/news/local/Jon-Corzine-MF-Global-Securities-Investment...
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- Jon Corzine
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ilikeike
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Pffffft!
- 1 year ago
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ilikeike
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JohnA [removed]
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One of Obama's top bundlers so I read. It's a bad sign when investor funds just disappear, we don't know what happened to the money. It's just gone.
- 1 year ago
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JohnA [removed]
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dcrog
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He destroyed NJ's economy; why would anyone expect that he would have any regard for the money of others put into investments, he had no respect for the citizens of NJ?!?!? I hope he ends his life as an indigent, which is what he deserves. What an arogant bastard.
- 1 year ago
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dcrog
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bailey78
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Kind of like having the chicken snake check out to see if the fox got the chicken. I don't see any one going to jail from this. maybe they will have to take a later tee time at the Golf coarse but thats all
- 1 year ago
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bailey78
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congoboy [removed]
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bailey78:
if his buddy obama makes the date im sure they can take whatever tee time they want
- 1 year ago
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congoboy [removed]
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bailey78
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congoboy:
I must ask who do you think should be in the white house??
- 1 year ago
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bailey78
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congoboy [removed]
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bailey78:
jesus, kidding. out of all the current conservative contenders im leaning cain. hey i hear your old buddy perry is accused of releasing the cain alleged sexual harassment crap
- 1 year ago
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congoboy [removed]
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bailey78
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congoboy:
cain is not president materal not at all. he is a shill for big corp nothing more.
- 1 year ago
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bailey78
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congoboy [removed]
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bailey78:
and what do you base your criteria on? if you hadnt noticed obama himself lives in shiilsville
- 1 year ago
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congoboy [removed]
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bailey78
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congoboy:
I have listen to what he has to say and disagree with him. I have read a bit on him. I can and will read ya know? all you have to do is listen to the guy with a open mind. Oh and have you heard me say I would vote Obama again? I have said many times I'm not happy with what he has done.
- 1 year ago
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bailey78
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CitizenHill
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Until we prosecute the enablers (Congress) as well as the "crony-capitalists" (who, btw don't represent a capital free market) it doesn't matter what their political "persuasion or affiliations," crime was/has/is being perpetrated upon honest citizens by dishonest politicians complicity with corporate specials interests - - which sure as hell aren't those of the "working class."
Clean out dishonest govt, and we'll be on the way to establishing govt of and for the people.
- 1 year ago
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CitizenHill
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Vic_Romano
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They've been chatting about that over at Zerohedge for over a week. I don't know if MF's bankruptcy will hammer our markets too much, but I sure hope that an investigation into the inner workings of such an investment house will be the call for greater scrutiny on other financial institutions.
- 1 year ago
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Vic_Romano
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Dagum
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Vic_Romano:
It's hard to believe that Corzine was on the short list to replace Tim Geithner as our next Secretary of Treasury.
- 1 year ago
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Dagum
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Vic_Romano
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Dagum:
That's the really shady underbelly of the investment banking cartel. How people remain so willfully ignorant of the revolving door between Wall Street and Washington is frightening. Hopefully, OWS will help bring a little needed sunlight on this area of blatant corruption.
Perhaps if MF's corporate veil gets pierced, more information regarding their comingling of client funds will be exposed. At this point, though, I don't think that it's wise to accuse Jon Corzine of individual malfeasance until an indictment is handed down--after all, it's more than just him running the show.
- 1 year ago
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Vic_Romano
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congoboy [removed]
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Vic_Romano:
my god you cant even trust a democrat anymore!
- 1 year ago
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congoboy [removed]
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congoboy [removed]
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Dagum:
theyre all friends. more proof that its more than just republicans bringing the country down
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congoboy [removed]
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Vic_Romano
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congoboy:
You can't trust any of them, congoboy.
- 1 year ago
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Vic_Romano
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dcrog
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Vic_Romano:
What the flea bag movement needs to bring is some sanitation! It's quite obvious, as Bloomburg just pointed out, CONGRESS caused the financial meltdown by forcing the banks to provide mortgages to people who could not afford the payments. No way to argue that point, a tad bit of reasearch of the CRDA and the draconian regulations and threats from the Feds will easily confirm this.
- 1 year ago
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dcrog
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Dagum
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Vic_Romano:
The are probably going to pull a goldman sachs and have a brown skinned person appear who will be the fall guy for all the criminal activity, saving the Directors of MF from jail time.
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Dagum
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dcrog
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congoboy:
Sure you can, just check your brain at the door, or drink some more of that koolaid and everything will be just fine.
- 1 year ago
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dcrog
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dcrog
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Dagum:
Not if you consider the administration who was thinking about that!
- 1 year ago
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dcrog
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Vic_Romano
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dcrog:
I have a feeling that the sanitation they're going to bring will be in the form of torches, pitchforks and guillotines when the shit finally hits the fan.
The problem to which you refer was not simply the government's fault--nor was it simply the bankers or the borrowers' fault. It was a combination of all three, and everyone was drinking the greed is good kool aid until the margin calls came in....
- 1 year ago
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Vic_Romano
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Vic_Romano
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Dagum:
Who knows? They're talking about $1.5 billion in client funds. That's not chump change there. I don't think they're going to be able to pin it on one person, but the whistleblowers are coming out of the woodwork now. It will be interesting to see how this one plays out.
- 1 year ago
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Vic_Romano
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RevKen
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Vic_Romano:
Vic, I am sure that this all happened because we have too much government regulations already. Here is the Republican thinking: these regulations hold down profits so it forces companies to find alternative ways of making money. Millions of dollars in profits just are not enough, it takes tens of millions and even hundreds of millions of dollars for these companies to be able to pay their executives a living wage.
Even with all of the corruption I wonder how these guys can possibly live on the pittance of a salary they get. We should make it easier for them to steal more.
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RevKen
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dcrog
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Vic_Romano:
Well, that'll be a problem for them because even the Leftists who have been egging them on to keep this going will crack down when the flea baggers finally do snap and start freaking out, they will be met with overwhelming force and be crushed, the lucky ones who will be arrested will ruin their futures because of felony records. When they finally do grow up and try to find jobs, none of the "evil" rich or corporations will hire them. None of this mess was the "government's" fault!!!! The fault rests with Barney Frank, Dodd, and all the rest of those dirt bags who pushed the CRDA. Shit man, you hafta see the big picture, they knew damn well what would happen. It's straight outa Alinski's "Rules for Radicals".
- 1 year ago
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dcrog
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Vic_Romano
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RevKen:
I'm sure the repukes are going to make an example out of Corzine simply because he's a Democrat. In this particular instance, they won't blame this failure on too much regulation. They'll find a way to connect this to President Obama and bitch and bitch and bitch. You see, too many regulations only matter when their buddies are barely eking out a living on their pitance of $16M salaries and exorbitant bonuses.
Sadly, I don't know if regulations would have prevented a run on this company though. The rumor mill about the Eurozone led investors to pull out when their margin calls came due. More affadavits are being filed as a result of their bankruptcy, and who knows when any investigative reports are going to be filed by the feds.
- 1 year ago
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Vic_Romano
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Vic_Romano
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dcrog:
It wasn't Barney Frank or Chris Dodd who lowered interest rates to rock bottom levels. And it wasn't those two who introduced legislation to repeal the Glass-Steagall Act so investment houses could now engage in consumer lending practices in the housing market.
This goes way beyond partisan politics, and those "fleabaggers" you so easily denigrate are out there risking their asses because they seem to know what you're failing to grasp--that neither left nor right are truly representing the American people anymore.
This is the banks vs. the rest of us--pure and simple.
- 1 year ago
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Vic_Romano
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dcrog
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Vic_Romano:
Sweeten it any way you want Vic, I've heard too many of their shrill voices yelling "down with Capitalism", and screaming for some idealistic version of Socialism that exists in their despotic loving minds. They don't represent "normal" people, the 53% who actually pay federal income taxes, we are all going to work every day. Sure, there could be few who have noble causes in their minds, trying to plug their noses so they don't smell their filthy comrades, but they are being shouted out by those unwashed nuts, those pesky flea baggers. If they actually got what they want, no one would have jobs, and no taxes would be paid to feed the federal sow, so her tits would dry up and the 47% who ride in the cart now would have no one pulling it for them in the future. Have you ever got a job from a poor or middle class person? I think not pal. I've only worked for "evil" rich people, corporations, and my "evil greedy self". So, no thanks, the flea baggers are merely a pimple on the ass of society that is about to come to a head and be popped.
- 1 year ago
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dcrog
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JohnA [removed]
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Dagum:
Almost anyone would be an improvement over Geithner, but I must agree.
- 1 year ago
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JohnA [removed]
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JohnA [removed]
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Vic_Romano:
He should be made an example and it should have nothing to do with what political party he is a member of.
- 1 year ago
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JohnA [removed]
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congoboy [removed]
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Vic_Romano:
my point exactly sir
- 1 year ago
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congoboy [removed]
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Dagum
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Commingling client funds with your businesses is one of the most blatant and obvious criminal offenses you could commit. If Corzine doesn't end up in a prison cell for this nobody on wall street ever will.
Meanwhile this will send shockwaves through the market.
- 1 year ago
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Dagum
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dcrog
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Dagum:
I'm not holding much hope that muchado will happen to that dumbass Marxist with millions of dollars. He's part of the hypocritical crowd who have taken over the Marxist movement in America, you know, the ones who have their millions and don't give a flying phuc about the rest of us because they already have all the money they will ever need. Pillosi is a member, and so is Kerry, who lives off the wealth of dead republican!
- 1 year ago
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dcrog
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JohnA [removed]
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Dagum:
He's blaming it on accounting errors, of course.
- 1 year ago
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JohnA [removed]
