Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global...

Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global execs after concluding that weak risk controls and chaos rather than fraud led to the disappearance of around $1B in customer money, the NYT reports. Regulators are still mulling civil action, while Corzine & Co. also face client lawsuits, which bankruptcy trustee James Giddens has agreed to co-operate with.
Comments (31)
  • Castrese Tipaldi
    , contributor
    Comments (64) | Send Message
    Try justifying you with "weak risk control" and "chaos", even just for a speed ticket (i.e. no harm done to anybody), let's see how that will play out!


    The system is broken, act accordingly!
    16 Aug 2012, 04:37 AM Reply Like
  • Lloyd Blankfein
    , contributor
    Comments (16) | Send Message
    Don't be silly, the system works for me. The system was created for us in Wall Street. We are able to run massive operations subsidized by the largesse of the productive sector and run amok while the muppets get corzined and cramerized.


    After all, "we are doing God's work".....
    16 Aug 2012, 06:19 AM Reply Like
  • Lloyd Blankfein
    , contributor
    Comments (16) | Send Message
    Jon is looking to start a new hedge fund.....
    16 Aug 2012, 05:27 PM Reply Like
  • Destin
    , contributor
    Comments (718) | Send Message
    Wow, just wow. If a staff writer at the Onion turned in that story he would probably be fired.
    17 Aug 2012, 12:27 AM Reply Like
  • Security Breach!
    , contributor
    Comments (59) | Send Message
    Not surprising that someone as politically connected as Jon Corzine would not face criminal charges for his role in the fraud. If nobody involved in the sub-prime meltdown went to jail did you really think Corzine was even worried?
    16 Aug 2012, 04:46 AM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
    Regime insiders are never punished for their crimes in a kleptocratic oligarchy: rather they are lauded for their skills at taking from outsiders and enriching insiders.


    In a Plantation Economy laws are only for the plantation workers not the owners
    16 Aug 2012, 05:25 AM Reply Like
  • sr1977
    , contributor
    Comments (365) | Send Message
    "Chaos and porous risk controls at the firm"...are a symptom of fraud.
    16 Aug 2012, 05:40 AM Reply Like
  • Papaswamp
    , contributor
    Comments (2241) | Send Message
    Bundle $500,000 and get away with $ that is one heck of a return. Crime does pay!
    16 Aug 2012, 05:51 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
    "Authorities are unlikely (that is, there's no change in hell) to file criminal charges against Jon Corzine and other top MF Global execs after concluding that President Obama desperately needs Corzine to keep bundling big-money donations for the president's floundering re-election campaign."


    There. Fixed it for you.
    16 Aug 2012, 05:58 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9903) | Send Message
    Shocking .... maybe it's time to turn loose the CIA interdiction team, or maybe outsource the job to the mafia hit men.
    16 Aug 2012, 06:13 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
    "no charges".


    The whole political/judicial system is in the pockets of a select few elites. Lincoln and Washington are turning in their graves.
    16 Aug 2012, 06:16 AM Reply Like
  • jeanewight
    , contributor
    Comments (344) | Send Message
    If anywhere across the fruited plain there are a "few good men," this would be a good time for them to stand up. We need bold people of integrity who are not intimidated. Where's the backbone to stand up for what is right? I know it means swimming against a rising and surging tide, but.....Isn't there anyone out there who can't be bought? I am sick of the elite and powerful and theiragenda and of bad people doing bad things and getting away with it. Lawlessness abounds; We cry out for the justice that eludes us.
    16 Aug 2012, 07:04 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message


    Paul Ryan?
    16 Aug 2012, 10:44 AM Reply Like
  • jeanewight
    , contributor
    Comments (344) | Send Message
    perhaps - To be honest, I don't know that much about him.
    16 Aug 2012, 10:24 PM Reply Like
  • noob
    , contributor
    Comments (393) | Send Message
    Ron Paul might be your best bet.
    17 Aug 2012, 06:26 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
    Just like GS . There was no evidence to charge them in the financial meltdown. Even though the TARP ended up under their total control. And, the kicker ! Bloomberg and Fox suited the Fed for years to release their meltdown dealings and trillions went worldwide. How many subsidiaries of AIG got billions that never have been included with the TARP billions. Lloyd was b/sing through every poor on his body. Not just his mouth !


    To see clips of Corsine holding hands on stage with Obama ! Common ! Even the black panthers can threaten you at the polls and Gen Holder will be General Holder ! DL
    16 Aug 2012, 07:07 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
    Weeeeeee.. Looks like Obama has Geitner's replacement ! Sec Corsine.. Sounds right !
    16 Aug 2012, 07:09 AM Reply Like
  • Ted Bear
    , contributor
    Comments (700) | Send Message
    Well, we now have our poster child.


    The question is, is anyone powerful enough to hang up the pictures?


    This is just a staggering miscarriage of justice and the American way. I'm telling you, this kind of theft will not stop until one of the perpetrators, or one of the goons is Washington who are paid to look the other way, are literally dragged from their mansion and left to rot on the curb for all of their kind to see. There is a reason Blankfein works in a guarded, bullet proof office. Living like a rat must be some reward for doing gods work.


    Truly, this whole Corzine scam makes me want to vomit.
    16 Aug 2012, 07:25 AM Reply Like
  • oaksprings
    , contributor
    Comments (16) | Send Message
    Political power makes might and right,and sometimes emminates stong foul odors
    16 Aug 2012, 07:33 AM Reply Like
  • Aristiphones
    , contributor
    Comments (1325) | Send Message
    doesn't pay the bills. "gotta love the stink" to do that...among many other things of course. "stealing is inefficient."
    16 Aug 2012, 07:41 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    ALL I can say is CRIME DOES PAY.........
    16 Aug 2012, 08:02 AM Reply Like
  • chopchop0
    , contributor
    Comments (5171) | Send Message
    Only on a massive scale. Petty crime gets you thrown into the slammer.
    16 Aug 2012, 10:17 AM Reply Like
  • ecrivain
    , contributor
    Comments (19) | Send Message
    It's absolutely nauseating
    16 Aug 2012, 09:00 AM Reply Like
  • dixie
    , contributor
    Comments (281) | Send Message
    WE are now asked to believe that $1,000,000,000 can just disappear like MAGIC - PRESTO it is gone. Into the Democrat campaign chest???
    16 Aug 2012, 09:03 AM Reply Like
  • User 509088
    , contributor
    Comments (1704) | Send Message
    michael corleone told you it would be like this.


    oh to have the worries of j edgar and the communist conspiracy (i love what that dress does for your figure, dear) which was taking us over.
    16 Aug 2012, 09:13 AM Reply Like
  • Jack Hutchison
    , contributor
    Comments (521) | Send Message
    Gross negligence and willful misconduct. Don't these oligarchs have a fiduciary responsibility to their clients?


    Corzine and company should serve ten years or more in Club Fed, without the perks. But, that'll never happen. He's one of Obama's own. Same ilk. Same incompetence. Same corruption. Same arrogance.


    Enough to make you puke on your Reeboks.
    16 Aug 2012, 09:14 AM Reply Like
  • jeanewight
    , contributor
    Comments (344) | Send Message
    @Jack - my sentiments exactly.......It's just totally reprehensible, and
    if I were one whose money was gone missing, I'd want to string 'em all up.
    16 Aug 2012, 10:27 PM Reply Like
  • dacama1
    , contributor
    Comments (221) | Send Message
    Not even having his securities license revoked...
    16 Aug 2012, 10:21 AM Reply Like
  • GardenWeasel
    , contributor
    Comments (28) | Send Message
    weak risk controls and chaos. ................ oh, i get it. of course. Maxwell Smart's old nemesis is back! How can we expect a self-admitted idiot like Corzine to stand up against the world's greatest criminal organization? Remember when there were over 1,000 felony convictions of financial executives from the savings and loan crisis? where's Max when we need him?
    16 Aug 2012, 11:42 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
    We are just voices crying in the wilderness: Make straight the way.
    17 Aug 2012, 06:53 PM Reply Like
  • Maninder Batra
    , contributor
    Comments (564) | Send Message
    What a joke.USA is becoming a banana republic or what?
    20 Aug 2012, 06:29 AM Reply Like
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