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Jon Corzine: "I didn't intend to break the rules." (really?!!)

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katty Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 03:46 PM
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Jon Corzine: "I didn't intend to break the rules." (really?!!)
more:

http://finance.yahoo.com/news/corzine-apologizes-collap...

WASHINGTON (Reuters) - Jon Corzine said he "never intended to break any rules" while he was chief of MF Global and that he doesn't know what happened to the hundreds of millions of dollars in missing customer money.

Corzine, in his first public appearance since the firm filed for bankruptcy on October 31, gave lawmakers a lengthy account of the final days of futures brokerage MF Global and apologized to those harmed by the firm's collapse.

"I never intended to break any rules, whether it dealt with the segregation rules or any of the other rules that are applicable," said Corzine, wearing a somber dark suit and armed with an accordion file folder of documents and a highlighter pen.

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SteveM Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:18 PM
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1. Well, maybe he was distracted by the bear-hunting issue...
After ignoring the New Jersey Division of Fish and Wildlife's recommendations, he persistently banned the regulated hunting of black bears, even after a significant increase in the number of nuisance bear complaints.

There's a man with his priorities in order. yeah.
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katty Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:29 PM
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2. o yeah i am sure the 'somber black suit' did the trick
criminals being criminals.
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russspeakeasy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:42 PM
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4. ...all he was missing was Abramhoff's hat.
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dtexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:37 PM
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3. I didn't know the gun was loaded.
And I'm so sorry, my friend.

;-)
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grasswire Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:50 PM
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5. I don't get the cynicism toward Corzine here
I have a tendency to presume innocence, though.
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SteveM Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 06:05 PM
Response to Reply #5
8. Oh, I'm sure he will have plenty of fine lawyers...
But you don't need to file charges to see that he was part of a grand Ponzi scheme of pumping up derivatives and "Poor-ly rated" funds and mutuals, then selling them to others.

Even if it were not a crime, I wouldn't deal with someone who peddles that stuff.
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katty Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 06:54 PM
Response to Reply #8
9. they always have well paid lawyers-Corzine has been a major
Edited on Fri Dec-09-11 06:55 PM by katty
player (emphasis on 'play')in this kind of casino 'investment' (if you can call what they do a legit investment biz-unless the profits are lining their deep pockets) banking -- the guy is a well known uber gambler, nothing shy about him. He is a CROOK-and he won't do one day in jail.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Dec-09-11 05:08 PM
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6. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
meow2u3 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 05:25 PM
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7. This is one of the criminal syndicates that caused the eurozone crisis to begin with
The banks have been running a combination Ponzi scheme/protection racket on both the eurozone and the US government. First, they create a crisis by creating exotic derivatives, which were illegal when they first sprang up, then having a banksterbusiness-friendly Congress pass the legislation which legalized their crimes. Then, they sold those junk derivatives falsely rated as AAA to unsuspecting investors, including tying those criminal schemes to sovereign bonds, while at the same time betting that those "investment products" would bomb, all based on insider information.

Next, when the Ponzi scheme collapsed, they "lobbied" (read: made the government an offer they couldn't refuse) Congress and White House to pass few-strings-attached bailout packages, ostensibly to keep the financial system solvent, but in reality a protection racket to prevent the banksters from prosecution and silence the critics of the shadow banking system that caused both the Federal deficit and the European debt crisis. The difference with the EU crisis is that their crisis was caused by Wall Street credit rating agencies effectively blackmailing Southern European countries into accepting a bailout with harsh, unfair austerity measures attached, forcing the people to pay for the crimes of the banksters, while allowing the criminals to call all the shots, an international extortion racket if you ask me.
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Lil Missy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-10-11 10:53 AM
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10. Translation: "I didn't intend to get caught."
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