|Forum topic by DKV||posted 08-16-2012 06:24 PM||595 views||0 times favorited||5 replies|
08-16-2012 06:24 PM
If this article borders too closely on religion and/or politics then I apologize and will ask Nathen to delete it. However, it really got my blood pressure up.
Whoooo-EEEEEEEEEEEEEEE! The casino’s open again, boys!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.
Jesus H. Christ on a Galilean seesaw, and they say vaudeville is dead. I realize that the blog is not the go-to source for high-level finance, but I do have one very large question for the gumshoes working this case. We all agree that “about $1 billion” “disappeared,” right? Okay, so here’s my question: In the course of the disappearance, as the money passed through the chaos and the “porous risk controls” and the financial black hole that is Jon Corzine’s integrity, did any of that “about $1 billion” go from where it should have been into the pocket of someone who shouldn’t have had it? I mean, if 10 bucks disappears from the till in my local, the people investigating the theft are generally curious as to whether or not it ends up in the bartender’s wallet. And, given enough time and dedication, they will find that out.
Criminal investigators can bust the Russian mob. They can break up drug syndicates. They doggedly run ‘roided-up pitchers into court. Twice. They beat hell out of Napster. But set them down amid the financial-services crowd and, suddenly, they can’t find a whore at high Mass. (Yeah, yeah. “Look on the altar.” Ya bastids.) 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.” This is what “looking forward, not back” really looks like.
The financial-services industry should still be being treated like the Gambinos. Instead, we have Goldman and GF Global skating, and we are treated to a paragraph that should set off a gorge volcano in any American whose net worth is less than 40 billion quatloos.
I’m so pissed I could spit blood.