Thursday, August 16, 2012

Corzine Passes Go, Collects $200

At ocean eleven
And now rudeboys have a go wail
'Cause them out of jail
Rudeboys cannot fail ...
Dem a loot, dem a shoot, dem a wail
A Shanty Town
Dem a loot, dem a shoot, dem a wail
A Shanty Town ...

I guess, we'll be adding into the Political Playbook is that you don't prosecute Wall Street mobsters, especially if they hail from Goldman Sucks , in an election year.


No Criminal Case Is Likely in Loss at MF Global 

After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case ...


In the most telling indication yet that the MF Global investigation is winding down, federal authorities are seeking to interview the former chief of the firm, Jon S. Corzine, next month, according to the people involved in the case. Authorities hope that Mr. Corzine, who is expected to accept the invitation, will shed light on the actions of other employees at MF Global.

Those developments indicate that federal prosecutors do not expect to file criminal charges against the former New Jersey governor. Mr. Corzine has not yet received assurances that he is free from scrutiny, but two rounds of interviews with former employees and a review of thousands of documents have left prosecutors without a case against him, say the people involved in the investigation who spoke on the condition of anonymity

And, it gets worse!

I mean, even this wouldn't be served in the Irony Cafe;

Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans. He is currently trading with his family’s wealth.

A New Mexico town once changed their name to "Truth or Consequences" ", to gain fame.

If a show came along named "No Consequences", Wall Street, and only Wall Street, with its' larcenous infamy, would have to lay claim to it.

File this one under "Laughing all the way - running away from the bank" ...

Help Me Mr. Wizard! 


Bonus Links

Another Week, Another Bankster with Impunity

What a World - There Is No "Manslaughter" Charge in Financial Firm Incompetence

Jon Corzine Wants to Start a Hedge Fund, Maybe