MF Global says CEO Corzine has resigned, will not seek severance

MF Global says CEO Corzine has resigned, will not seek severance

bottomline.msnbc.msn.com

MF Global’s chief executive and former New Jersey Governor Jon Corzine has resigned as head of the brokerage which filed for bankruptcy on Monday.

Corzine is under a cloud for allegedly failing to protect client's investments by cordoning off their funds from the firm's money.

MF's board announced Friday in a brief statement that Corzine had resigned from all posts and confirmed that he will not seek any severance payments.

(visit the link for the full news article)

According to other sources like CNN, there's over 600 Million Dollars of customer money missing from the funds.

More bankers and financial advisers stealing money from good hard working folk.

When will people realize that the system is built to keep them impoverished. I bet he doesn't even get prosecuted.

Thoughts ATS?

bottomline.msnbc.msn.com
(visit the link for the full news article)

He did get a severance fee. It wasn't "official", thats all...

reply to post by DoctorSatan


Yup, the 600 Million was a good pacakge..

Bunch of crooks.

This is a perfect example of the phrases "wearing many hats", and "the revolving door".

Individuals in power tend to take on many positions, thus 'wearing many hats'.

Also, the 'revolving door' is when people have positions in government and can regulate industries, than participate in those industries for profit utilizing their power within the regulatory body to increase that profit potential.

It goes back and forth, and it forms a spider web between all of the major corporations and governments throughout the world. I have no knowledge of a place where this does not hold true to some extent.

If you are a corrupted Goldman Sach alumni you get immunity from anything, that is the power of been part of the NWO, he will be recycle like the trash that they all are, that is how corporate government works

The tax payer pays and they get to enjoy the fruits of corporate corruption.

Welcome to the NWO corruption, expect no less.

He should be in handcuffs, and the only severance package he should get should be on the receiving end of the guillotine blade.

And people defend these GS scumbags.

I thought I might throw this nugget piece in here ... " Enron. Arthur Anderson. WorldCom. Global Crossing. Some of the biggest players in corporate America, and what do they have in common? They are all perpetrators of reporting fuzzy numbers as revenue to pump their stock prices. But in the realm of creative accounting run amok, one institution stands apart as the mother of all financial fraud--the Department of Housing and Urban Development.

Although HUD's mission involves "spurring economic growth in distressed neighborhoods," the reality is that HUD is an agency run and managed by the departments of Treasury and Justice, Lockheed Martin, JPMorgan Chase, Dyncorp, Harvard, AMS, Arthur Anderson, and others that use the agency for their own for-profit interests.

All this according to Catherine Austin Fitts, the self-described "cleaning lady" whose job it was to clean up financial messes such as the savings and loan scandal at HUD. Few people know more than Fitts about how the money works in Washington--and now that Enronitis is spreading, Fitts has found a willing audience for her insight on how complicated financial schemes get cracked and implemented at the highest corporate and governmental level. The software she has developed, if implemented, is poised to revolutionize the way communities and individuals use their money. "

and a interview with Bonny Falkner and Catherine Austin Fitts ..pod cast .. "Unpacking Mr. Global, Part One" with Catherine Austin Fitts. Derivatives exposure of Bank of America and the FDIC; corruption at the Department of Housing and Urban Development; prosecution of Hamilton Securities; Community Wizard; 9/11; collateral fraud. (This is the entire Part One which was truncated last week due to fundraising.)

www.kpfa.org... .............peace

He will only be punished for getting caught not the crime. Either shoulders will shrug "nothing we can do about it" or the tax payers will be forced to cover the dissapearing money again and again and again. Occupy Everything.

The paradigm is entrenched. The effort is almost entirely focused on making certain that as few people as possible 'wake up' to the fact that the entire financial community is engineered to maintain a stranglehold on wealth, that no person can function without depositing something into their coffers.

I find it amusing that despite this and other similar instances we STILL accept the rhetoric from partisans about how a good leader MUST be a good 'businessman.' Who "worked hard" for their money.... (their money).... who struggled against the odds and heroically displayed their leadership..... I haven't met one yet who hasn't been "given" nearly everything they have - or taken everything they could, professing a sense of entitlement the size of Texas... "look at me!". Then there is the celebrity factor that made it so easy to have the media involved in our political machinery.. because we need to be "sold" our leaders..... marketing is now a substitute for character and ethics.

And look who runs.... corporate bankers, corporate lawyers, corporate energy cartel members, corporate healthcare cartel members, corporate Insurance industry insiders, big Pharma, Big Media, Big Aggro, ... and we entertain their viability because they are said to be 'good businessmen.'

Then to make certain the insult is as injurious in retrospect as possible, they proclaim their 'humble' origins... meet behind closed doors, and secure their commercial interests... all the while explaining how this or that MUST be done because it will save us, our economy or more outrageous still, our freedom. And who do they meet with? Foreign, transnational, and partisan corporations, parties, and associates.

Does anyone think former governor Corzine is an exceptional case... a proverbial "bad apple in the bunch?' Or can we start finally to openly acknowledge that the game is not 'for us' and Corzine is just one of the club memebrs? I suppose not.

No severance?? Does anyone believe that?

Originally posted by Make Speed Limit 45
No severance?? Does anyone believe that?

The former U.S. senator has been subpoenaed to explain how MF Global, which he led for about 20 months, collapsed into the eighth-largest bankruptcy in U.S. history and why an estimated $1.2 billion in client funds is unaccounted for.

Corzine: 'I simply do not know' where MF Global money is

Sure,a 1.2 billion severance.................Split a few ways.

reply to post by sonnny1


Isn't that great, Corsini doesn't know where the money is, but I bet JP Morgan does and so GoldMan Sach but is ok, he doesn't know where the money is so hurry up congress give MF their due tax payer bailout because some bonuses are due.