Welcome to ECCIE - Sign up today!

CuteOldGuy · 01-31-2012, 02:49 PM

This is TOO funny! I know no one will respond to this one, at least none of the Obamazombies. But this is funny!

http://www.weeklystandard.com/blogs/...ma_620781.html

Munchmasterman · 01-31-2012, 04:31 PM

Quote:

Originally Posted by CuteOldGuy

This is TOO funny! I know no one will respond to this one, at least none of the Obamazombies. But this is funny!

http://www.weeklystandard.com/blogs/...ma_620781.html

It's easy to respond to and explain.
Corzine is not personally liable for the money his company lost. Key fact here.
Corzine raising campaign cash for a candidate has nothing to do with the business. None of the cash is owed or owned by the corp. It comes from private parties.
It's not like Houseman’s dad putting 80% of the funds into Houseman’s super Pac

CuteOldGuy · 01-31-2012, 04:32 PM

Tell that to the investors. I'm sure they will be happy to know that.

timpage · 01-31-2012, 05:07 PM

Quote:

Originally Posted by CuteOldGuy

This is TOO funny! I know no one will respond to this one, at least none of the Obamazombies. But this is funny!

http://www.weeklystandard.com/blogs/...ma_620781.html

But, you did make it up. Where does it say that Corzine gave $500k to Obama? Says he was part of a group that raised money for Obama.

CuteOldGuy · 01-31-2012, 05:10 PM

He can raise money for Obama, but his investors remain screwed. And he says "Duh, I don't know where the money went." This is funny shit! If the President had any integrity, he wouldn't take a dime from this crook, but like I said, it depends on the POTUS integrity.

nevergaveitathought · 01-31-2012, 05:14 PM

he was a bundler to keep his ever so waning influence as high as possible, but im sure about right now he's persona non grata in dem circles... "hey, this is john" "john who, i'm sorry?" "come on, joe, your pal, jon, can you pass me to barack?" "sorry the connection is breaking up, bye"

and it remains to be seen how liable he was in the mf global misuse of funds, i imagine he's in deep, deep do-do and is busy spending his fortune on attorneys even as we type

timpage · 01-31-2012, 05:17 PM

Quote:

Originally Posted by CuteOldGuy

He can raise money for Obama, but his investors remain screwed. And he says "Duh, I don't know where the money went." This is funny shit! If the President had any integrity, he wouldn't take a dime from this crook, but like I said, it depends on the POTUS integrity.

As you would say COG....whatever. The point is, and speaking of integrity, it's another patently untrue post by you. Nice going.

Missy Mariposa · 01-31-2012, 05:19 PM

If I raised 100k with 10 other people and gave it to charity and then defrauded people out of 100k, should the charity be expected to give the 100k to the people I personally defrauded?

CuteOldGuy · 01-31-2012, 05:24 PM

I just think it's interesting where he is expending his effort. Apparently he feels no obligation to his investors, who trusted him, and then he "misplaced" their money, but he does feel obligated to President Obama, who likely saved his ass from prison. The guy is a fraud and a crook. And a friend of the President. Seems to go hand in hand.

I B Hankering · 01-31-2012, 05:31 PM

Quote:

Originally Posted by Missy Mariposa

If I raised 100k with 10 other people and gave it to charity and then defrauded people out of 100k, should the charity be expected to give the 100k to the people I personally defrauded?

Ask those who benefitted from Stanford and Madoff's Ponzi schemes. It's called 'claw-back'.

farmstud60 · 01-31-2012, 05:50 PM

Actually, it is worse than what people know and report. MF Global stole money from Segregated Commodity accounts. In other words, it was just like the bank took the money out of your account.

Commodity Brokerage accounts are set up as segregated accounts. Farmer Brown puts $5000 in his account to hedge grain production. The only person that can lose that money because of bad trades is Farmer Brown. MF Global stole the money from Farmer Brown's account.

Corzine should be thrown in Jail.

nevergaveitathought · 01-31-2012, 05:56 PM

Quote:

Originally Posted by farmstud60

Actually, it is worse than what people know

Corzine should be thrown in Jail.

thats quite likely

his testimony before congress (both houses) was a high wire act of " i don't know" and a plea for understanding that "i never gave the order (to invade customer accounts to satisfy margin) but they might have misunderstood"

I B Hankering · 01-31-2012, 06:03 PM

According to the trustee overseeing liquidation the shortfall may be as large as $1.2 billion or 22% of relevant funds. MF Global mixed customer funds and used them for its own account for at least several days before the bankruptcy and transferred funds outside the country.

The brokerage used a large number of complex and controversial repurchase agreements or "repos" for funding and for leveraging profit, many off their balance sheet. Some of these complex repos have been described as a wrong-way $6.3 billion trade MF Global made on its own behalf on bonds of some of Europe’s most indebted nations. Failure of the repo positions helped cause the liquidity crisis at the firm. The sudden disappearance of so much liquidity may indicate a scandal and crisis related to the widespread practice among US and UK brokers of rehypothecation of customer collateral. Rehypothecation is not allowed in Canada and Canadian customers of MF Global were able to recover all their funds within 10 days.

http://en.wikipedia.org/wiki/MF_Global

farmstud60 · 01-31-2012, 06:46 PM

Unfortunately too many people think that people invested in MF Global, MF Global did the investing, and they lost money. They don't think it is that big of a deal.

Fast Gunn · 01-31-2012, 07:19 PM

Personally, I do not think Jon Corzine is a crook.

He is a risk taker, but he just fucked up on a grand scale.

His company was raking in 38 to 45 million dollars a month betting on European debt.

. . . But just because you fucked up at your old company yesterday does not mean that you cannot place a smart bet on a good horse today!

I don't see why President Obama should refuse donations from people who have made mistakes. If that was the case then there would be nobody qualified to donate to his campaign.

Quote:

Originally Posted by CuteOldGuy

He can raise money for Obama, but his investors remain screwed. And he says "Duh, I don't know where the money went." This is funny shit! If the President had any integrity, he wouldn't take a dime from this crook, but like I said, it depends on the POTUS integrity.