No Criminal Case Is Likely in Loss at MF Global

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No Criminal Case Is Likely in Loss at MF Global

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.

http://dealbook.nytimes.com/2012/08/15/no-criminal-case-is-likely-in-loss-at-mf-global/

 

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The reaction to this news has been both angry and bipartisan.

“At this point, it is clear that people like Corzine, and Lloyd Blankfein could put on masks and start sticking up fruit stands all over lower Manhattan, and get away with it because of ‘the difficulty in prosecuting crimes like these,’” writes Charles P. Pierce on the Esquire blog.

“It always seemed … inevitable that there was never a chance that former MF Global CEO Jon Corzine would be criminally charged over his failed stewardship of the firm,” Jim Kim writes for Fierce Finance.

“Because in the Banana republic of the crave, no bundles can ever go to jail, no matter how heinous the crime,” writers at Zero Hedge grumble.

http://www.theblaze.com/stories/mf-...oid-criminal-charges-bipartisan-shock-ensues/

 

[SmarterthanYou]

and why do morons elect wealthy people to political office again?????????

 

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because usually they are the only ones running

 

[SmarterthanYou]

because usually they are the only ones running

and that would be why?

 

[Cancel 2018. 3]

and that would be why?

usually takes money to know money and sometimes people use their own wealth. usually at the federal and state level, not so much local level.

 

[SmarterthanYou]

usually takes money to know money and sometimes people use their own wealth. usually at the federal and state level, not so much local level.

and people have a hard time trying to figure out how to divorce wall street and congress........

 

[Airstrip One]

People without much money do not have the time to run for most offices.