James Koutoulas is CEO of Typhon Capital Management and recently founded the Commodity Customer Coalition (CCC), comprised of over 7000 customers of MF Global. As an attorney and spokesperson for the CCC, Koutoulas has an inside persective on the legal maelstrom that has erupted in the wake of the MF Global bankruptcy scandal -- he's leading the charge for the commodities trading community.
I want to show the American people that no matter how connected you are, no matter if you were the Governor of New Jersey, no matter if you were a senator, if you break the law you should go to jail. And quite frankly, I think it's a disgrace that no one went to jail over the crisis in 2008.
All the people who gave triple-A credit ratings to essentially junk securities, none of them went to jail, none of the people who sold those went to jail, none of the people who committed mortgage fraud went to jail - I think it's ridiculous. If [Corzine] did commit a crime, I want to see him behind bars."
OS perhaps dwells on this too much--but--this crime strikes at the heart of the culture. If Corzine and company skate on this, then eventually nothing will prevent TheBankerDownTheStreet from stealing customer assets, except that he knows many of those customers know who he is, where he lives, and own guns. Even that may not be enough to overcome temptation, if he knows he'll never even face a court appearance for his crimes.
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