MF UNTOUCHABLE: Corzine Wins Again
How you like me now...
I swear to tell the truth, the whole truth and nothing but the truth.
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MF Global Judge Nixes Customer Group's Bid to Depose Corzine
Reuters
A bankruptcy judge on Tuesday rejected a bid by former MF Global customers to depose the collapsed brokerage's former chief, Jon Corzine.
In a written ruling in U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn said the Commodity Customer Coalition, which had sought permission to question Corzine and other former MF Global insiders, lacked standing because it is not a direct creditor in the case.
The coalition, a grassroots group led by Chicago-based commodities trader James Koutoulas, bills itself as representing the interests of thousands of traders whose accounts at MF Global were frozen when the company went under. But the coalition itself is merely a "'watchdog' entity with its own independent goals," hoping to depose Corzine "in furtherance of its own interests" rather than those of the MF Global estate, Glenn said in his decision.
Koutoulas, reached by phone on Tuesday, dismissed that reasoning as "the most minute technicality imaginable. I could have filed 10,000 versions of the motion, one on behalf of each customer we represent," Koutoulas said, adding that the coalition is considering appealing the decision.
Most commodities customers have recovered about 80 percent of the value of their accounts through payouts by James Giddens, the trustee in charge of finding as much of the money as possible and liquidating MF's broker-dealer unit.
The coalition has said Corzine should face criminal charges for his role in the company's fall, though the exact nature of that role has been unclear. Many officials, including the Department of Justice and the FBI, have been investigating the case and have spoken to MF Global executives.
The coalition in November sought permission to depose Corzine, Chief Financial Officer Henri Steenkamp, former Chief Operating Officer Bradley Abelow, General Counsel Laurie Ferber, former Treasurer Edith O'Brien, and Christine Serwinski, former finance chief at MF's North American brokerage.
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Corzine congressional testimony:
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Reaction from Bob Knight that Corzine will not go to prison.
PG version:
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Adult version. Profanity warning.
For full effect, click play repeatedly.
More Corzine stories:
NYT UPDATE: 'No Criminal Case Likely Against Jon Corzine'
Biden: "Literally, The First Guy I Called Was Jon Corzine"
Letter From Satan: Dear Brother Corzine
Gasparino Reports MF Global CFO Told Investigators 'Corzine Should Go To Jail'
Raise Your Hand If You Would Like To Invest In Jon Corzine's New Hedge Fund
Reader Comments (16)
http://www.infowars.com/mf-untouchable-corzine-wins-again/
Look, a Man like John Corzine is too important to the Banking System to ever be prosecuted for any "crimes" he may have committed. Important Men like Mr. Corzine have so many things to do every day, that they may say things that sound like a decision, when it's really just a "comment".....like "nice weather we're having" or "take the money from the customer accounts to cover our short position"....Real Important Men..of Genius, yes, of Genius.....
Hey, wait a minute, I'm sounding like a Dos Equis commercial, some kinda beer anyway....Hey, why don't we go have a beer and talk about this later?
Besides, Mr. Corzine wouldn't make any fuss if you took some of HIS money, after all he ain't a Dope
Dealer
......or nuthin'
Jamie Dimon is Greek Orthodox, Tim Geithner is a Wasp. Henry Paulson is Christian Scientist.
THe problem is you are unable to thinking critically about the issue, and to resolve a solution. That is the problem and that has been the problem with americans. They talk shit. It could be all the shit sandwiches they have been fed. I'm unsure and could really care less.
As an individual, we all have the power. The power to choose who we consume from, bank with and how we spend our time. Maybe a lobbyist handbook on how to organize and influence those in power would come in handy.
How can anyone be pissed about Corzine? Do you know who he is? Do you know his background? Can you imagine how many chips he's collected over the years in the "big game".
You pay taxes don't ya? Well....I rest my case. In reality, you only hate them because you are so much like them.
As badly as so many free about the abuse by Corzine they have to appreciate that they do not live in New Jersey who suffered from the poor management by Corzine when he purchased the office of governor.
Thanks for the link. Actually, we knew this lawsuit was coming. Freeh said in interviews a few months ago the laswsuit would be filed in April.
http://www.nytimes.com/2017/01/05/business/dealbook/mf-global-jon-corzine-penalty-settlement.html?_r=1
http://www.reuters.com/article/us-mf-global-hldg-pricewaterhouse-idUSKBN16U1QZ