Let’s fast-forward to 2011 and the story of MF Global, a commodities brokerage company led by Democratic New Jersey Governor Jon S. Corzine, a former senator.
Corzine’s return to Capitol Hill was not pleasant as he was called before senators to explain to them how MF Global, the company he led, failed and what had happened to $1.2 billion in customer funds. His statement was and I quote: “I simply do not know where the money is or why the accounts had not been reconciled up till this day.” Really? Don’t you hate it when you can’t find your keys or your phone or a billion dollars of other people’s money? Isn’t the feeling one of frustration? Even if Corzine was at ease seeming to be uncomfortable, there were those who felt more deeply than Corzine did about the entire situation. Consumers were damaged by the MF Global fraud. Corzine was therefore the head of MF Global and, incidentally, the former head of the Goldman Sachs gang. What an ideal situation! Revolving doors anyone?
So MF Global went into the customers’ segregated accounts and stole their money. How do you think this money was stolen out of their accounts? Can we point at the telltale squeak of the revolving doors again?
At the time of this MF Global robbery, the CFTC (Commodity Future Trading Commission), an agency which regulated brokerage firms like MF Global, was headed by one Gary Gensler, who also happened to be a close colleague of guess who? Corzine. Gensler was chairman of the CFTC between 2009 and 2014 and also Assistant Secretary of the Treasury between 1997 and 1999. And guess? He was also Partner and Head of Finance of Goldman Sachs between 1987 and 1996.
President Obama is on record stating: “Gary has never once let his team forget what this is all about – the American people.” How to screw the American people indeed!
Do you know what the CFTC did to Jon Corzine after robbing thousands of customers? Nothing. Gary Gensler was his ‘lieutenant’ at the Goldman Sachs and he was the head of the CFTC? Excuse me? To say that the fox is watching the chicken coop is worse than stupid. So Jon Corzine was CEO of MF Global between 2010 and 2011; Governor of New Jersey between 2006 and 2010; Senator of New Jersey between 2001 and 2006 and CEO of Goldman Sachs between 1994 and 1999.
The MF Global collapse is an example of the alliance between the regulators and Big Business in the financial industry.
How do governments collude with corporations, lobbyists, NGOs and academia to suppress your freedom? (15)
Let’s fast-forward to 2011 and the story of MF Global, a commodities brokerage company led by Democratic New Jersey Governor Jon S. Corzine, a former senator.
Corzine’s return to Capitol Hill was not pleasant as he was called before senators to explain to them how MF Global, the company he led, failed and what had happened to $1.2 billion in customer funds. His statement was and I quote: “I simply do not know where the money is or why the accounts had not been reconciled up till this day.” Really? Don’t you hate it when you can’t find your keys or your phone or a billion dollars of other people’s money? Isn’t the feeling one of frustration? Even if Corzine was at ease seeming to be uncomfortable, there were those who felt more deeply than Corzine did about the entire situation. Consumers were damaged by the MF Global fraud. Corzine was therefore the head of MF Global and, incidentally, the former head of the Goldman Sachs gang. What an ideal situation! Revolving doors anyone?
So MF Global went into the customers’ segregated accounts and stole their money. How do you think this money was stolen out of their accounts? Can we point at the telltale squeak of the revolving doors again?
At the time of this MF Global robbery, the CFTC (Commodity Future Trading Commission), an agency which regulated brokerage firms like MF Global, was headed by one Gary Gensler, who also happened to be a close colleague of guess who? Corzine. Gensler was chairman of the CFTC between 2009 and 2014 and also Assistant Secretary of the Treasury between 1997 and 1999. And guess? He was also Partner and Head of Finance of Goldman Sachs between 1987 and 1996.
President Obama is on record stating: “Gary has never once let his team forget what this is all about – the American people.” How to screw the American people indeed!
Do you know what the CFTC did to Jon Corzine after robbing thousands of customers? Nothing. Gary Gensler was his ‘lieutenant’ at the Goldman Sachs and he was the head of the CFTC? Excuse me? To say that the fox is watching the chicken coop is worse than stupid. So Jon Corzine was CEO of MF Global between 2010 and 2011; Governor of New Jersey between 2006 and 2010; Senator of New Jersey between 2001 and 2006 and CEO of Goldman Sachs between 1994 and 1999.
The MF Global collapse is an example of the alliance between the regulators and Big Business in the financial industry.