Sat, 3 March 2012
Surprise surprise, John Corzine, global elitist financier and flim-flam man will not be prosecuted for his role in the MF Global theft and fraud. It seems that the US Attorneys involved just can't figure out if any crime was committed. There's so much paper work for them to review and it's just too hard. Never mind bringing the entire senior executive ranks before a grand jury to squeeze the truth out of them. Never mind the fact that CME Chief Terry Duffy, the head of a national exchange, testified before Congress that he was told that Corzine was aware that customer funds were being siphoned off to pay off MF Global bets that went South.
Obviously the competence level of all government employees has eroded to the point where they can't prosecute a crime, even when it's handed to them gift-wrapped. And don't expect this matter to be resolved in civil suits either. Most of them will be handled by the Bankruptcy Court Judge and will probably be tossed. So what we have here is another connected insider getting a free pass from the government and the Justice Department. When the history of the early 21st century is written, this incident will be referred as a tipping point, when confidence in both the financial system and the government disintegrated.
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