Jon Corzine - The New Bernie Madoff? (crime, home)
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Corzine used clients money knowing that MF Global was collapsing.
Is Corzine an honest guy?
FBI to probe MF Global's use of client money - CBS News (http://www.cbsnews.com/8301-501369_162-20128548/official-mf-global-admitted-using-client-money/ - broken link)
Well if he did what is alleged, stealing clients money and using it for company purposes he should rot in jail like the thief Madoff. Maybe they can be cellies together. I think you could add this to the list of complaints for OWS. This is one reason that older and younger people hate big banks and brokerage firms. My parents were on that list, they never bought a stock in their life because they didn't trust the thieves. I think they had a valid point. If they treated this and all other insider trading as a bank robbery charge and put the thugs in jail for 30 or 40 years maybe the OWS gang will go home and other people would feel safer in investing. Thank god for the govt. and social security.
Well if he did what is alleged, stealing clients money and using it for company purposes he should rot in jail like the thief Madoff. Maybe they can be cellies together. I think you could add this to the list of complaints for OWS. This is one reason that older and younger people hate big banks and brokerage firms. My parents were on that list, they never bought a stock in their life because they didn't trust the thieves. I think they had a valid point. If they treated this and all other insider trading as a bank robbery charge and put the thugs in jail for 30 or 40 years maybe the OWS gang will go home and other people would feel safer in investing. Thank god for the govt. and social security.
I had to comment on a very valid point. If I take a gun and walk into a bank and make the teller stuff money into a bag, I have just committed a federal crime and will be facing massive prison time when caught (25 years is not uncommon) with no possibility for parole, since it is federal. Chances are, at best, I stole about $30k of federally insured money and no one is personally injured from my crime.
However, if I construct a scheme that merely swindles people out of their money in a back end "white collar" way, even if it is millions which will never be recovered, I can generally look forward to going to a minimum security prison for 18 months. Even if my victims are left destitute.
I agree that securities and exchange fraud, insider trading, ponzi schemes, etc. should be treated just as harshly as the guy who robs the corner bank.
However, if I construct a scheme that merely swindles people out of their money in a back end "white collar" way, even if it is millions which will never be recovered, I can generally look forward to going to a minimum security prison for 18 months. Even if my victims are left destitute.
Speaking of victims, every time I hear about someone that lost everything to Madoff's Ponzi Scheme I roll my eyes. While it may be 51% Madoff's fault these people lost all there money, it's 49% there own fault. When your investing in Anything you need to diversify you investments, so say General Motors files for bankruptcy and wipes out your investment in it your not completely wiped out. I say no more than 20% of your investments in any one investment and no more than 50% with any one broker. These Madoff Victims were GREEDY by giving Madoff all there money. If they would have diversified there holdings, Madoff's Ponzi scheme would have hurt, but not crippled them financially.
When I was reading the book "Too Big to Fail", I saw Corzine's name in there multiple times. I don't think that's a good thing. The, after investigating further, it seems he probably isn't trustworthy (Jon Corzine - Wikipedia, the free encyclopedia).
He was literally in bed with the union, schtuffing Karla Katz, then president of the Communication Workers of America. He gave her over a hundred thousand dollars to buy out her ex-husband's share of their house, and so on.
He worked for Goldman Sachs, satans of Wall Street. He might as well have "New World Order" stamped on his forehead and a bar code planted in his wrist.
He's a worse disappointment than Lou Manzo.
IMO, a resounding HELL NO! Jon Corzine is NOT an honest man. He's a self-serving dirt bag!
Speaking of victims, every time I hear about someone that lost everything to Madoff's Ponzi Scheme I roll my eyes. While it may be 51% Madoff's fault these people lost all there money, it's 49% there own fault. When your investing in Anything you need to diversify you investments, so say General Motors files for bankruptcy and wipes out your investment in it your not completely wiped out. I say no more than 20% of your investments in any one investment and no more than 50% with any one broker. These Madoff Victims were GREEDY by giving Madoff all there money. If they would have diversified there holdings, Madoff's Ponzi scheme would have hurt, but not crippled them financially.
so if i had all my money with a money manager at Fidelity, in what is advertised as a diversified portfoilio, and it ends up false...i'mn 49% at fault? i mean, i agree that some of the people who had money with Madoff were stupid, but they were deceived.
Most of the Madoff victims knew he was a crook but they thought he was a crook who was benefiting them.
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Jon Corzine is NOT an honest man. He's a self-serving dirt bag!
