Posts Tagged ‘Jon Corzine’

Obama Administration, Harry Reid and Nancy Pelosi: Romney has committed a Felony????

August 21, 2012

Does anyone else find it disturbingly ironic that Obama and his campaign staff, the DNC, Debbie Wasserman Shultz, Harry Reid ( The Senate Majority Leader), and Nancy Pelosi (the House Minority Leader, and Ex Speaker of the House) have ALL accused Mitt Romney of committing a felony??

In case you missed it:

“…the Obama claim that Romney committed some sort of fraud (team Obama says he’s a “felon”) for his work at Bain Capital…”

or

“What Stephanie [Cutter] said, rightfully so, is that either Mitt Romney was lying on SEC forms and misrepresenting to his investors — which could be a felony — that he was the sole owner, president, CEO of Bain Capital from 1999 until almost the end of 2001, or he wasn’t and represented that he was.” – Debbie Wasserman Shultz (Stephanie Cutter is Obama’s Deputy Campaign Manager)

or

“Senate Majority Leader Harry Reid (D-NV) on Friday took the opportunity during an address from the Senate floor to repeat his claim that Republican presidential hopeful Mitt Romney did not pay his taxes for 10 years.”  (which would be a felony…. at least if you are not one of Obama’s Czars!!)

or

“Pelosi says she believes Reid’s claim…”

So…let me get this straight.  These are supposed to be OUR leaders, and they are making ACCUSATIONS (some say unfounded) about the Republican Nominee for President.  These are NOT supposed to be CRACKPOT, fringe, WACKOS!!!!

And yet, there will be NO formal charges of Jon Corzine?????  Are you kidding me??

“It turns out he may not be ultimately responsible. The New York Times reports that prosecutors are dropping their criminal investigation against Corzine and top executives there for their role in the MF Global catastrophe. “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,” the newspaper reports.”

Are you kidding me???

With that I will leave you two final quote from the Corzine article:

““I simply do not know where the money is or why the accounts haven’t been reconciled,” he said and added that as CEO of MF Global Holdings, he is ultimately responsible.”

and

“How could prosecutors drop a case where over one billion dollars in client money has gone missing , and where a CEO is throwing his hands up and saying he has no clue?”

Another sign that the SEC needs to ELIMINATED…

November 14, 2011

Here is another article concerning the SEC, from Zero Hedge.  I am sure that some people have heard about former Goldmanite Jon Corzine and the MF Global bankruptcy/Client fleecing.  Now we see AGAIN how incompetent the SEC is, and we will throw in the Federal Reserve Bank of New York as well.  The relevant quote:

“In order for MF Global to have attained this status it must have passed through a review by:

 1)   The New York Fed

2)   The SEC

 This is not a quick nor superficial process. According to the NY Fed’s own site:

 Upon submission of a formal application, a prospective primary dealer can expect at least six months of formal consideration by the New York Fed. That consideration may include, among other things, on-site reviews of front, middle, and back office operations, review of compliance programs and discussions with compliance and credit risk management staff, discussions with senior management about business plans, financial condition, and the ability to meet FRBNY’s business needs, review of financial information, and consultation with primary supervisors and regulators.

 MF Global passed through all of these reviews to became a primary dealer in February 2011. Today, a mere nine months later, the firm is in Chapter 11 and has admitted to stealing clients’ funds to maintain liquidity.

You read that correctly.  The SEC reviewed ALL of MF Global’s operations for 6 months.  With access to ANYTHING that is asked for.  Including the front office, the middle office and the back office!!!  Nine months later, the firm is BANKRUPT and is accused of STEALING clients money.  There was NOT new management.  There were NO major changes in ownership.  NO significant changes in anything.  And yet, 270 DAYS AFTER the firm PASSES the review by the SEC, the firm is dead!!  The review was also conducted by the Federal Reserve Bank of New York.  These are “supposed to be the smartest guys in the room”!!

Eliminate the SEC!!! 

Thanks Obama for your oversight.  I mean, YOU are the Chief Executive over the SEC.  Right??  Or were you out golfing that day??

P.S. – This is also why the Government should NOT be investing in ANY individual companies, like Solyndra!!!