Ruh. Roh.
Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in a brokerage account with JPMorgan Chase & Co. (JPM), according to a memo written by congressional investigators.
Edith O’Brien, a treasurer for the firm, said in an e-mail quoted in the memo that the transfer was “Per JC’s direct instructions,” according to a copy of the memo obtained by Bloomberg News. The e-mail, dated Oct. 28, was sent three days before the company collapsed, the memo says. The memo does not indicate whether that phrase was the full text of the e-mail or an excerpt.
Corzine's earlier testimony before Congress was the Ricky Ricardo Defense: 'I don' know nuthin'! It disappeared itself! Ay Caramba, Loooocy what have you done now?'
Hmm....
Now, if any of OS's intrepid readers have any illusions whatsoever that Mr. Corzine will ever see a day in jail over this, they need to put them to rest right now. Not. Gunna. Happen.
Given his imbedded position in both the Democrat party and Wall Street, he will never be touched by this. Of course, 'normal' people with 'normal' 'pedestrian' ethical views will never trust the man, but that won't matter, given the character of the group that does embrace him.
But he does give insight into the particular cabal now in charge of our government, which knowledge will be helpful this fall.
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