From Ann Barnhardt:
11 POINTS ON CORZINE & MF GLOBAL
POSTED BY ANN BARNHARDT – MARCH 26, AD 2012 8:03 PM MST
1. Jon Corzine is a psychopath who knew EXACTLY what he was doing, what was going on, and what his trading position was at MF Global. The guy would sit in meetings and place trades on his Blackberry. Talk about “compensating for inadequate/ingrown gender-specific anatomical abnormalities”, or something. If this guy had any more of an inferiority complex, he would be forming an army to mount a land invasion of Russia in winter. Seriously.
2. Of course Corzine instructed that the customer segregated accounts be raided. In a functioning society with a rule of law, stealing in excess of a billion dollars of your customers’ money would land you in prison, probably for the rest of your life. No Treasury officer would do this unless under direct orders to do so.
3. Of course Corzine lied to congress. DUH! What do you expect? This guy is evil, immoral, conscienceless, and lying is part of his daily modus operandi as much as breathing and tinkling.
4. Because Corzine is a psychopath, he will attempt to deflect blame onto Edith O’Brien and/or some other MFG back office staff. I wrote a piece months ago warning that they may try to frame the actual wire transfer keypunch clerk who physically entered the transfers into the Fed wire system. This person is likely to be a woman making a meager salary who knows nothing about the wire instructions she is given, and just sits at a computer terminal in a cubicle and enters wires all day. I renew the warning. This is what psychopath oligarchs do. They treat the lives of other people as object playthings.
5. Edith is no innocent little lamb in all of this. She knew all along that she was working for scum and she knew what Corzine was doing to the company – namely prison raping both the customers and the stockholders. If she had any integrity she would have quit long ago, or at least publicly spilled her guts right away on October 31st or November 1st.
6. However, in fairness, Edith did NOT sign the letter from JP Morgan certifying that the wires to London were not customer funds. She also notified the CME that the “missing” customer money wasn’t an accounting error, but a very real shortfall on October 31st. We’ve known all of this since darn near the very beginning of this mess.
7. The notion that it has taken five months to trace bank wires is abject nonsense. There is nothing easier in the world to track, and there is nothing more heavily documented than bank wires. All of this bee-ess about endless “forensic accounting” and “we may never know what happened” is pure smoke-and-mirrors. Everyone has known since the very beginning that the money went to London, specifically to JP Morgan . . .
8. . . . which is why the bankruptcy was fraudulently set up as a Chapter 11 securities firm BK, and not a subchapter 4 Chapter 7 bankruptcy of a commodity brokerage. Let me clear up all ambiguity on this matter. There is NO POSSIBLE WAY that EVERY PARTY INVOLVED in the filing of the BK wasn’t aware of exactly what they were doing, the inherent fraud in filing the BK as they did, and the consequences to the customers AND the huge illegal advantage the Chapter 11 filing gave to JP Morgan. The following groups are 110% complicit in the theft of the customers’ funds by virtue of their participation in the scheme of the BK filing itself: CME Group, the SEC, the CFTC, the DOJ, the bankruptcy court, the bankruptcy trustees, and of course, JP Morgan, who has been running the table on this since literally day one. Everyone listed is criminally complicit in stealing the customers’ money because had the BK been filed in the only possible legal way, as a Subchapter 4 Chapter 7 commodity brokerage BK, the customers would have gone to the front of the line and been made immediately whole. The BK was fraudulently filed the way it was for one reason and one reason only: to benefit JP Morgan.
9. Corzine will never be touched. What part of “lawless totalitarian oligarchy” are you STILL struggling to understand? The reason Corzine did what he did was because he knew that he would never be touched – specifically by Eric Holder and the Obama DOJ. If conditions in the United States change and Corzine feels threatened, he will be on a chartered jet to a non-extradition treaty country to live out his days in luxury. I would guess that the vast majority of Corzine’s wealth has long-since been transferred offshore. If I had to bet on where he would end up, I would guess the United Arab Emirates. The city of Dubai is in the UAE and they have been trying to establish Dubai as the next global financial center. It is all built on a massive debt bubble, and muslim culture embraces and encourages dishonesty in business dealings, so Corzine will feel right at home, and will be treated like a rockstar. And, like I said, there’s no extradition treaty between the US and the UAE.
10. If Corzine appears before Congress again, it will be more of the same “I had no knowledge . . . ” lies. And his buddies in Washington (on BOTH sides of the aisle, because they’re all in exactly the same criminal class) will shrug their shoulders, maybe feign a little outrage, and then it will all be forgotten in 36 hours. Just like everything else of meaning, importance or consequence in this godforsaken cesspit of a society.
11. If you still have money sitting in a brokerage account of any kind, you’re just stupid. Sorry. But that is the only way to put it. DO NOT email me asking if by “ANY BROKERAGE ACCOUNT” I was referring to the brokerage firm that you use. Uh, is it a BROKERAGE? Does it BROKER TRANSACTIONS in the futures, futures options, stock, stock options, bond, money market, ETF or any other form of securities or currency in the United States of America? Here, let me just answer the next 1000 emails in one fell swoop:
YES, YOUR ACCOUNTS ARE FUNDAMENTALLY UNSAFE AND YOU ARE AT RISK OF HAVING YOUR MONEY CONFISCATED AT ANY TIME. YES, I’M TALKING TO YOU. YEAH, YOU. YEAH, YOUR MONEY ISN’T SAFE. YES, YOU SHOULD GET YOUR MONEY OUT NOW. YES, I’M TALKING DIRECTLY TO YOU. YES, I AM REFERRING TO WHATEVER BROKERAGE FIRM YOU ARE USING FOR WHATEVER PRODUCTS YOU ARE INVESTED IN. RETIREMENT, PENSION, ANNUITY, MONEY MARKET, 401(k), IRA, STOCKS, BONDS, ETFs, FUTURES, OPTIONS, AND ANYTHING ELSE. WOULD YOU LIKE ME TO HIRE A SKYWRITER? HOW ABOUT ONE OF THOSE BLIMPS WITH THE LIGHTS ON THE SIDE? HOW ABOUT A HIGH SCHOOL MARCHING BAND? YES, I’M TALKING TO YOU.
I’m noting the time of this post and will let you know when the first email arrives saying, “You didn’t mean my money market with Fidelity, did you?”
Too bad we can’t do some sort of over/under on that.