It looks like John Corzine, Democratic money maker, and head of MF Global when it went bankrupt, while losing a billion dollars of customer money in a desperate attempt to stay solvent, will not be prosecuted for any crime at all.
This in itself is a crime.
What these people did was use a billion dollars of money that wasn't theirs to try to pay off their bad bets on the market, and now they are claiming that confused bookkeeping meant that they didn't know that they were doing that.
Ladies and gentlemen, that is absurd on it's face.
This was a world class, professional trading establishment that handled billions of dollars all the time. They knew exactly what they were doing, and the fact that the government lawyers apparently can't find the evidence to prosecute is ludicrous.
That a guy who goes into a bank with a gun and steal a couple of thousand dollars will certainly be caught and go to jail, but this Corzine can do what is in effect the same thing with a billion and then claim he didn't know, and get away with it, is simply enraging.
Who knows if there was any political pressure applied here, but this just stinks. If I was someone who's life savings was now claimed to be gone, and the response was for the authorities to shrug their collective shoulders and say that they were sorry, but nothing could be done, I'd be sorely tempted to take justice into my own hands.
Very bad all around.
I'm with you on the whole kit and kaboodle, this stinks to high heaven. Its more than obvious that there is no justice, that we are in a world without rule of law (WOROL), but in this case only for those at the highest levels.
ReplyDeleteI continue to wonder why folks have not taken justice in their own hands, the whole eye for an eye, tooth for a tooth thing. I'm simply amazed at the complacency.
For me, I've decided the risks are far too great, I've cashed out everything I possibly can, and have decided to sit the whole thing out, I am a firm believe in the if you do not see it, if you do not possess it, its not yours anymore mentality
There are many, many people who have done the same, Ann Barnhardt being the most well known example. I can recall talking to old timers who had sworn off the stock market due to their bad experiences with corruption in the thirties, but it seems that we will have to learn that same lesson all over again.
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