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« Time To Sequester Air Force One Vacation Flights | Main | MUST SEE: Little Jack Hoffman Is A Football Hero »
Sunday
Apr072013

CORZINE CRONYISM BOMBSHELL - High Ranking DOJ Lawyers And AG Eric Holder Were Partners In Firm That Represented MF Global

What do Corzine, Eric Holder and MF Global all have in common?

Besides fraud.

Law firm Covington & Burling.

 

---

MF Global Was A Client Of Eric Holder's And Lanny Breuer's Firm

Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the GAI that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Lanny Breuer’s former law firm, Covington & Burling.

Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester--the very law firm from which Associate Attorney General Tony West came to DOJ.

There's more.

As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh.  At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said, “I could have engaged any lawyer in America to represent our bank. I chose Eric.”

Until now, the conventional wisdom for why Holder wouldn’t throw the book at Corzine was that Corzine is an Obama campaign bundler.  Indeed, as Breitbart News reported, four of the top officials at the Department of Justice--Eric Holder, Thomas Perrelli, Karol Mason, and Tony West--were also big money bundlers for Obama.

But the newly understood crony connections reveal conflicts of interest that extend well beyond mere political support for a common candidate--they go to a tangle of prior business dealings that further underscore the need for a special prosecutor in the Corzine case.

At least 65 members of Congress have already signed letter to Eric Holder requesting that he appoint a special prosecutor to investigate MF Global’s collapse and the loss of $1.6 billion in customer money. What’s more, even progressives have begun to wonder whether Holder’s Covington & Burling connection explains why the Department of Justice has not charged, prosecuted, or jailed a single Wall Street executive after the biggest financial collapse in American history.

As Richard Eskow of the Huffington Post recently wrote:

More and more Washington insiders are asking a question that was considered off-limits in the nation's capital just a few months ago: Who, exactly, is Attorney General Eric Holder representing?  As scandal after scandal erupts on Wall Street, involving everything from global lending manipulation to cocaine and prostitution, more and more people are worrying about Holder's seeming inaction -- or worse -- in the face of mounting evidence.

Continue reading...

 

---

Cronyism Is Preventing Prosecution In The Corzine Case

Washington Times

Sixty-five members of Congress have signed a letter to Attorney General Eric H. Holder Jr. requesting that he appoint a special prosecutor to investigate MF Global’s collapse and the loss of $1.6 billion in customer money. As the New York Times has noted, “Mr. Holder has the ultimate authority to decide whether a special counsel is necessary.”

Some contend that the fact that Mr. Holder, Mr. Corzine and Associate Attorney General Tony West all previously served as fundraising “bundlers” for President Obama’s presidential campaign is enough to warrant Mr. Holder’s recusal and the appointment of a special prosecutor.  Indeed, a letter signed by 65 members of Congress cites Mr. Corzine’s $500,000 in fundraising for Mr. Obama as one of the reasons a special counsel is needed.  A subsequent report by Bloomberg revealed that MF Global had written clauses into bond offerings indicating that Mr. Corzine, a former Democratic U.S. senator and governor of New Jersey, might join a future Obama administration as a Cabinet officer, a revelation that surprised even experienced Wall Street executives.

However, political connections aside, there are at least three compelling economic and financial reasons why a special prosecutor is essential to avoid the appearance of any potential conflicts of interest.

First, the Government Accountability Institute has discovered that prior to going bankrupt, MF Global was a client of Mr. Holder’s former law firm, Covington & Burling. It is unclear how long Covington & Burling represented MF Global. However, records reveal that MF Global owed Covington & Burling $114,275.55 “for services rendered prior to Oct. 31, 2011,” the date MF Global filed for bankruptcy protection. Furthermore, this connection is complicated by the fact that the head of Justice’s criminal division, Assistant Attorney General Lanny Breuer, also hailed from Covington & Burling.

What’s more, Associate Attorney General Tony West, who helped raise an estimated $65 million in his role as the co-chairman of Mr. Obama’s campaign, came to the Department of Justice from Morrison & Foerster.  The problem: MF Global’s trustee for the Chapter 11 bankruptcy has retained Morrison & Foerster as its general bankruptcy counsel.

 

 

Janet Tavakoli - Analyzing the Fraud at MF Global

Reuters - Eric Holder, Top DOJ Lawyers Were Partners With Big Banks

 

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  • Response
    by Jim Karger The Dollar Vigilante "I simply do not know where the money is, or why the accounts have not been reconciled to date. I do not know which accounts are unreconciled or whether th ...

Reader Comments (23)

UPDATE 1-CME deal under MF Global trustee's microscope

http://www.reuters.com/article/2012/06/28/mfglobal-cme-extension-idUSL2E8HSIB120120628

Read this...
Jul 26, 2012 at 3:22 PM | Registered CommenterDailyBail
Anyway, the Post reports that Mr. Corzine isn’t necessarily catching the hint, and continues to carry the storm clouds hovering over him to favorite hangouts such as Nick and Toni’s in East Hampton and the American Hotel restaurant in Sag Harbor.

http://observer.com/2012/07/jon-corzine-haunts-hamptons-whether-hamptons-like-it-or-not/
Jul 26, 2012 at 3:23 PM | Registered CommenterDailyBail
Chris Whalen: MF Global And Jon 'Superman' Corzine

http://dailybail.com/home/chris-whalen-mf-global-and-jon-superman-corzine.html
Jul 26, 2012 at 3:30 PM | Registered CommenterDailyBail
Jul 26, 2012 at 3:31 PM | Registered CommenterDailyBail
Jul 26, 2012 at 3:34 PM | Registered CommenterDailyBail
Former MF Global official Edith O'Brien said in an October 2011 email that CEO Jon Corzine gave "direct instructions" to transfer $200 million from a customer account to cover an overdraft in its account at JPMorgan in London, according to a congressional memo released on Friday.

http://www.reuters.com/article/2012/03/24/us-mf-global-memo-idUSBRE82M17920120324
Jul 26, 2012 at 3:35 PM | Registered CommenterDailyBail
Former N.J. Gov. Jon Corzine, Carla Katz's forbidden e-mails are revealed

http://www.nj.com/news/index.ssf/2010/08/former_nj_gov_jon_corzine_carl.html

They are the most fiercely protected secrets of the Jon Corzine years: the contents of e-mails between the former governor and Carla Katz, his ex-girlfriend and a powerful union leader.

Corzine carried on a two-year legal battle to keep them private, going all the way to the state Supreme Court, where his refusal to release the correspondence was upheld on the grounds of executive privilege.

Last month, The Star-Ledger obtained copies of 123 e-mails between the two and verified their authenticity independently. The newspaper can now reveal at least part of what the governor spent $127,000 of taxpayer funds to keep secret.

From Jan. 25, 2007, through March 26, 2007, while both were involved in heated negotiations over a new state workers contract, Corzine and Katz exchanged scores of e-mails. Of those the newspaper obtained, she sent 100, he sent 23.
They are by turns salacious, playful, plaintive, even angry. And they include clear discussions of state business.
Jul 26, 2012 at 3:37 PM | Registered CommenterDailyBail
Corzine gave 'direct instructions' to transfer $200M of MF Global clients' funds: e-mail

http://www.nypost.com/p/news/business/mail_jon_ok_move_CFI6z9Y4aQS8tPGkSYn8JO#ixzz21l80pGcd
Jul 26, 2012 at 3:38 PM | Registered CommenterDailyBail
Email Ties Corzine to Missing Funds

http://online.wsj.com/article/SB10001424052702304636404577299923967199372.html

Jon S. Corzine gave "direct instructions" to move $200 million from an MF Global Holdings Ltd. account containing customer funds three days before the securities firm collapsed, according to an employee email reviewed by congressional investigators.
Jul 26, 2012 at 3:39 PM | Registered CommenterDailyBail
A special prosecutor should have been appointed 5min after Holder was found in contempt of Congress for his roll(as well as Obama's) in Fast and Furious. And the "Justice" Department refused to even discuss it. AmeriKa is in deep sht
Jul 26, 2012 at 5:16 PM | Unregistered Commenterrobertsgt40
JonMoFoCorzine

http://twitter.com/jonmofocorzine

Fake Jon Corzine on Twitter

Pretty funny tweets today...
Jul 26, 2012 at 6:04 PM | Unregistered CommenterDailyBail
"REVEALED!! #Holder & Corzine Seen at local Corvette Car Show" -- (red herring tweet to distract from the client/cronyism bit.) Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
Corzine good. Holder bad. Corzine good. Holder bad. Corzine good. Holder bad. Corzine good. Holder bad. (Google, Twitter Search trick)
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3h JonMoFoCorzine ‏@JonMoFoCorzine
@mfgfacts By "take care of Edith"...you mean...send her flowers? Of course I wouldn't do anything inappropriate! Corzine
View conversation
Reply Retweet Favorite
3h JonMoFoCorzine ‏@JonMoFoCorzine
@mfgfacts I think your handle should be "mfginnuendo"... you can't come over and play in my sandbox anymore. :( Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
Alright pals...looking for some Damage Control ideas. So far...1. #Holder strong-armed us into client relationship with threats. Hm. Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
@stuffyhead9 WIlliam I can tell you why...The Dept of Justice is really a front created to protect the wealthy. Except...in my case. Corzine
View conversation
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3h JonMoFoCorzine ‏@JonMoFoCorzine
"REVEALED!! Holder was Corzine's Prom Date back in High School" -- (red herring tweet to distract from the client/cronyism bit.) Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
Just called #Holder...all is good! Told him I knew where he's got 'his' #Silver bars, & would squeal like a pig if I get questioned. Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
@SherronU Political connections aren't protecting me from prosecution...Hi-def videos of animals and politicians doing it are!!! Corzine
View conversation
Reply Retweet Favorite
3h JonMoFoCorzine ‏@JonMoFoCorzine
Damn. I was soooooo close to skating with all this Greece, Spain, LIBOR, Audit the Fed shit...and now #Holder client thing?! C'MON! Corzine
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3h JonMoFoCorzine ‏@JonMoFoCorzine
I will admit....#Holder and I are racquet-ball partners. That's it. Sometimes we go into a private sauna together. That's it though. Corzine
Jul 26, 2012 at 6:06 PM | Unregistered CommenterDailyBail
Obama would have had to have a scopolamine drip or lobotomy to not see the obvious unlawful nature of this long term corrupt activity. These therapies would allow the acts to transpire without emotional or moral considerations. The proscribed penalties will be light. Obama is traipsing through the Dark Side.

A very well prepared expose, this.
Jul 26, 2012 at 7:00 PM | Unregistered CommenterHoward T. Lewis III
Let us send Corzine to hell. Or send him to us at the devil's matrix we will give him an infection and treat him with insanity.
Jul 26, 2012 at 7:18 PM | Unregistered CommenterM Khan
That's, uh, quite the gnarler of a hand wound he's got there. Was Corzine, like Willard, fishing on R&R?

What's peculiar is the wholesale failure of the MFG bankruptcy proceeding to release even a modest electronic belch of emails that would shld any light on exactly which atmosphere might be holding the "vaporized" money. What this means is that a huge number of attorneys are concealing crimes, and know it.

And then I read that Corzine prevailed in a state supreme court in his ongoing effort to suppress disclosure on a claim of... Executive privilege? Really? The justices couldn't find a bag large enough to cover their heads under a claim of attorney-client privilege and had to invoke the Divine Right of Kings? Good to know.

It's becoming more difficult every day to imagine a show trial and a few thousand hangings that could possibly reek of more shit than the U.S. Judicial System.
Jul 27, 2012 at 1:27 AM | Unregistered CommenterCheyenne
Crooked judges make great compost. In a FEMA labor camp or under a tree in the park. Either way is fine with me when so much that is so wrong has been done to so many. Old world satanism is running rampant in the U.S. government and the innocent and the ignorant are being clobbered and killed. But please let me tell you this, those good folks working farms and providing us food and building our homes and teaching and curing our ills and otherwise helping out, even if they have an IQ less than 10, are better citizens than these crooks we have tied up before us today. Those still on the loose? I hear those dobermans the Marine corps has been training can run over 30 mph before they hit fleeing criminals at the knees.

Turn yourself in Timmy. You don't want to be asking favors of the Darkside when TSHTF. All they need is 'plausible deniability'. You are fukt!
Remember the days of The Vancouver Club. The Darkness will give you a much worse deal than telling your story over the net. The truth will set you free. Almost. You can probably guess the peril of the alternative. With the trouble you are in now, you owe them nothing, and you are their liability.
Jul 27, 2012 at 2:25 AM | Unregistered CommenterHoward T. Lewis III
Unfortunately that is why the call it the Just-Us Department, it is not the first time it has been tainted with scandal, and it won't be the last...
Jul 27, 2012 at 12:04 PM | Unregistered CommenterS. Gompers
And BTW which law firm issued the MERS legal opinion?
Jul 31, 2012 at 4:23 PM | Unregistered Commenterwilliambanzai7
Jul 31, 2012 at 5:34 PM | Registered CommenterDailyBail
The Justice Department’s MF Global Scandal Dates to 1932

"When it comes to financial debacles and Washington, some players never change. Covington & Burling represented the disgraced Charles Mitchell of National City Bank (now Citigroup) at the Pecora Commission hearings held by the Senate Banking Committee during the 1930s. "

in full

http://www.bloomberg.com/news/2012-07-27/the-justice-department-s-mf-global-scandal-dates-to-1932.html

Flashback remember when democrats promised a Pecora Type Investigation ROFLAMO

A New Pecora Commission

http://swampland.time.com/2009/04/15/a-new-pecora-commission/

"Pecora is also the Italian word for sheep (whence comes Pecorino cheese)"

Wall Street’s Collapse To Be Mystery Forever: Jonathan Weil

http://www.bloomberg.com/news/2011-01-28/wall-street-s-collapse-to-be-mystery-forever-commentary-by-jonathan-weil.html
Aug 6, 2012 at 11:32 AM | Unregistered CommenterLiberatedCitizen
Aug 10, 2012 at 2:53 PM | Unregistered CommenterSKINFLINT
Responding to complaints that the rule of law is dead, Lanny Breuer gave a speech that sets forth the DOJ's decision-making process involving corporate crime.

http://www.nakedcapitalism.com/2012/09/marcy-wheeler-lanny-breuer-admits-that-economists-have-convinced-him-not-to-indict-corporations.html

Step 1. Breuer decides if the subjects are "rogue traders" or "rotten corporations."

If they're rogue traders, they're exonerated. If they're rotten corporations, Breuer proceeds to the Step 2.

Step 2. Breuer makes the rotten corporation give a presentation in "my conference room" predicting that its prosecution will (a) result in lost jobs, (b) affect the entire industry, and/or (c) be felt by global markets. If the presentation is "compelling," Breuer will "not always" waive prosecution.

Based on the foregoing, we may conclude either that Jon Corzine and MF Global gave a compelling presentation or that they're rogue traders.

That is all.
Sep 15, 2012 at 11:45 AM | Unregistered CommenterWilliam Blackstone, Esq.

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