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Veteran Contributor

MF Global

former MF Global CEO Jon Corzine and others at the bankrupt firm likely won't face criminal prosecution in the firm's crack-up, which featured raiding individual customers' accounts to the tune of $1.6 billion

 

Come on red or blue , R or D, this is wrong.

If a teen ager shoplifts a candy bar, he may do time,

 

But 1.6 bil is stolen from customers accounts and ignornace is a defense.

I think we have way too many laws and regulations , and it pains me to say it but we may need one more.

 

That or the ones we have are not enforced properly.

 
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40 Replies
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Honored Advisor

Re: MF Global

Attorney General Holder made the call not to prosecute, his boss is a Democrat...just sayin`. Like with the "fast and furious" gunwalking that he orchestrated, AG Holder is either crooked or incompetent.  At anyrate, clean house in November or we`ll keep gettin` what we been gettin`.

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Advisor

Re: MF Global

You forget business is equally corrupt regardless of who is in power.  Pres. Bush oversaw much of this lawbreaking, as did the presidents before him.  You must also realize that business likes to grease the skids of whoever is in power by donating to their campaign.  They are apolitical.  It matters not to them whether it's a D or an R in the White House.

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Senior Advisor

Re: MF Global

I watched the  "Senate hearings " on this and it appeared the panel was as uptight and fidgety as the guy in the witness seat  ---    

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Honored Advisor

Re: MF Global

That is true, so we should always vote against the incumbent to keep them on their toes, until a honest one gets in.  If they are there over one term, they learn too many tricks.

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Veteran Contributor

Re: MF Global

Its funny how most of our politicians go to DC and come back richer...they have to be in on the insider trading.

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Honored Advisor

Re: MF Global

My father used to say in a situation like that one, that those two groups of men "drink out of the same bottle, and sleep with the same women"...or something along those lines.... 

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Honored Advisor

Re: MF Global

Regardless of when the corruption occurred, this administration had this moment in time to address it, and didn't.    No matter what any other presidents have done, that is all on this one. 

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Frequent Contributor

Re: MF Global

I'd say that it was Corzine who learned too many tricks....not necessarily this administration, although they could have certainly at least given the appearance of doing more.    KenJ  

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Advisor

Re: MF Global

I would agree, in part to that statement.  However, apart from this administration's perceived unwillingness to pursue indictments and prosecute, the intracasies of justice are complex when it comes to preparing the case and making sure there's enough evidence beyond circumstancial evidence to convict without a shadow of a doubt.  I'm not defending Obama, but pointing out the narrow focus of the law that must be followed. 

 

Now as for the previous administrations, some of them pushed for deregulation of rules and signed into law legislation that gave banks and investment brokerages wide latitude in what they could do.  This is no different than turning a blind eye to alledged misdeeds.

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