Sunday, December 11, 2011

The Corzine Connection

True to my "Jersey Style" philosophy  "Crybaby Corzine", Jersey's former governor was subpoenaed by the government to appear before, of all things, the agriculture committee. Here's why, MF Global traded in commodities and futures, I'm talking about pork bellies and oil anything that can make the working class pay more for stuff that should cost way less, like heating fuel and food, Stuff that is no longer counted toward the cost of living or inflation. But I digress.
I heard all this on Friday on my way to work, (I know, lucky right? but that's another story) immediately I am thinking, who is he involved with from his old company, Goldman-Sachs, someone who looked the other way? Thanks Matt Taibbi for this Jon Corzine's Relationship With CFTC Chair Gary Gensler Probed | Matt Taibbi | Rolling Stone
Oh, Poor Johnny, crying about how in moments of stress companies "look for triggers that would enhance the oversight of organizations during those times" Well if the trigger is a regulator friend of Corzine's, I am guessing that the trigger named Gary Gensler isn't going to spring into action. Just a guess.
Next week he's going to be testifying in front of the finance subcommittee. And interestingly enough the Dodd-Frank Bill, that is supposed to be expanding it's responsibilities, has been gutted, by budget cuts CFTC Budget Slips Away; Staff Cuts Expected | FDL News Desk
This way whatever was going to happen, in the way of improvement for companies like MF Global, well nothing is going to happen now, as if anything ever was. And I don't know if anything is going to happen to "Crybaby Corzine" either. I also really got the stench of a Bernie Madoff ponzi scheme, when suddenly money is missing, and lots of it, where, oh where could it be?
I really like this local article  Corzine expresses regret, but stands strong throughout testimony on collapse of MF Global |
I love the part about Corzine "stands strong" even when he was being evasive. I am not sure, but it seems like being evasive is not a sign of strength. But it's definitely a sign of the "Jersey Style" strategy, to avoid any responsibility, for anything more than a few Jello shots and some fist pounding, when you leave D.C. on your private jet, back to the Jersey Shore.

No comments:

Post a Comment