NY Times Ready to Absolve Jon Corzine of Stealing Customer Money
From the New York Times
When MF Global toppled a year ago, chaos engulfed a Chicago trading floor. Customers were locked out of their accounts, later discovering that about $1 billion of their money had disappeared.
Federal authorities have all but cleared MF Global’s top executives of criminal wrongdoing, people briefed on the matter say. The government has yet to usher in a wider overhaul of futures trading rules, save for certain piecemeal policy changes. And the profit-making exchanges that rely on brokerage firms for business still police the futures industry, presenting potential conflicts of interest.
Criminal investigators have largely concluded that chaos and porous risk controls at the firm, rather than fraud, led to the disappearance of the money.
So I I have this straight, risk controls at MF Global, managed by Jon Corzine, were so porous that MF Globals Chief Executive, also Jon Corzine, was allowed to steal money from his customers to cover bad investments, also made by Jon Corzine.
Sounds like the chain connecting all this bad behavior is, former New Jersey Governor, and Obama Fundraiser, Jon Corzine.
image Batgirl Yvonne Craig and Jon Corzine both were both born around Taylorville, Illinois.