On October 8, James Koutoulas, CEO of Typhon Capital Management & Lead Attorney/Co-Founder of the Commodity Customer Coalition predicted that Jon Corzine, former CEO of the now-bankrupt MF Global, will someday be wearing an orange jumpsuit.
Good luck with that. Corzine is one of Obama’s top “bundlers” – one who has provided the campaign with over a half million in cash. I suspect he is jail proof. As the WSJ’s MarketWatch pointed out,
Corzine’s connections to Washington’s top levels — from former high-level Goldman Sachs Group Inc. (US:GS) bankers now serving in government to President Barack Obama himself — suggest that any deceptive statements and missing client money probably won’t be cause for concern in the Corzine camp.
Before MF Global, Corzine was first an extremely liberal Democratic Senator of New Jersey from 2001-2006 and then governor of the state before he was defeated by Chris Christie in 2009. Before his stint in government, Corzine was the CEO of Goldman Sachs, where assisted Federal Reserve Chairman Alan Greenspan in bailing out the hedge fund, Long-Term Capital Management.
While some suggest Corzine “forgot the lessons of LTCM” the evidence suggests he learned the same lesson everyone else learned: That people like him are immune from consequences and will always be bailed out. When MF Global went bankrupt, many found their assets had mysteriously disappeared. Corzine promises he doesn’t know what happened.
The point here is that Corzine is at the center of everything wrong with Wall Street. Whether Koutoulas is right that he will be charged, or not, the fact that he is a Democrat in Obama’s pocket (or vice versa?) should tell you that the Democrat smear on Romney should be painted on them.
In fact, even liberals will partially admit to the truth. A Salon.com article shows one aspect of the Democratic links to the racket:
Clinton teamed up with Tony Blair at private equity and consulting group Teneo Capital, one of whose clients was MF Global, the bankrupt broker-dealer run by former New Jersey Sen. and Goldman Sachs CEO Jon Corzine. After losing bets taken with client money, MF Global collapsed. And despite a swirl of controversy, no criminal charges will be filed against Corzine. There’s no evidence that the payoff to Clinton made a difference in the Department of Justice’s position, but then, it couldn’t have hurt.
The Salon tries to make Clinton the scapegoat, but it is Obama’s Justice Department that is doing nothing. Obama is the one in bed with what Leftists call “the one percent.” Corzine himself is the embodiment of the one percent.