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Location: By the sea, by the sea, by the beautiful sea
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Quote:
Originally Posted by Tilt11
About time. But I think we all know very little will happen to him, and the media will largely ignore him and give him a pass. If this guy were a Conservative, every outlet would cover it and focus on a Conservative President campaigning with him.
If he were a Conservative, he'd just have to say "Well, I don't remember", and all the whining righties would be happy to give him a pass.
I thought it interesting given the recent HKMEx failure, which is also connected to such familiar names, including MF.
Quote:
Originally Posted by CDusr
More info on HKMEx. Hong Kong Mercantile Exchange closes its doors | South China Morning Post
quote:
The tiny number of outstanding contracts reflects the difficulty HKMEx has had in attracting trades to the platform that officially opened almost two years ago to the day on May 18, 2011.
In contrast, the London Metal Exchange, owned by Hong Kong Exchanges and Clearing, saw record volume in April of 14.5 million lots traded. The Chicago Mercantile Exchange, the world's biggest commodity trading platform, traded 11.6 million contracts daily in April.
Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly | Zero Hedge
quote:
It will also enable market participants to more actively manage their risk exposures, using products tailored to Asian market needs.” HKMEx’s broking members at launch include BOCI Securities Ltd, Celestial Commodities Ltd, CES Capital International Co. Ltd, Chief Commodities Ltd, ICBC International Futures Ltd, Interactive Brokers LLC, KGI Futures (Hong Kong) Ltd, MF Global Hong Kong Ltd, Morgan Stanley Hong Kong Securities Ltd, OSK Futures Hong Kong Ltd, Phillip Commodities (HK) Ltd, Tanrich Futures Ltd and TG Securities Ltd. Its three clearing members are Interactive Brokers (UK) Ltd, MF Global UK Ltd and Morgan Stanley & Co International Plc.
This is a direct violation of Sarbanes/Oxley. Sarbanes/Oxley calls for prison time when a officer of a place like this files false reports knowingly or not.
The slap on the wrist is more than I expected but those who refuse to uphold the laws are a bigger threat to the country than the Corzine's.
Did anyone do prison time for their role in the financial meltdown?
Did anyone do prison time for their role in the financial meltdown?
Few even got the slap on the wrist. We know without question that Countrywide's book were as bogus as they come and Mozilo only got the slap on the wrist.
How many people that were told that they could rob a bank of $5,000,000 and their punishment would be a $1,500,000 fine wouldn't take that offer?
Basically that has been the governments position in the few cases they have pursued.
I'm very disappointed at the fact that the American people were not collectively sickened by this man's crime. And yes, I do believe his actions were criminal. Nobody heads an operation like that and doesn't know a thing about what is going on. When it came time to defend himself, all he did was plead the fifth, and just like that, he was off the hook. Unbelievable. And the American people could have cared less.
This is the problem with crimes involving financial markets and the firms that play in that arena... The details can be complicated and the general public has a difficult time following. They rely on the (liberal) media to digest the information for them, and feed it to them in layman's terms. Of course, if the media totally ignores the case, it's as if it never even happened.
Sick, about time, not enough justice towards his crimes... Their penalty to him, it's just a distraction because he will patted on the bottom at the big boys froth club.
Hell just pay the 1 billion settlement with money from another one of his ponzi schemes he's already constructed. I'm sure with money from the fed that found it's way to him and his crooked buddies magically.
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