Thursday, May 24, 2012

Obama bundler Corzine successfully lobbied regulators for breaks that lead to MF Global loss of $1 billion+

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5/24/12, "Frontline On MF Global's Six Billion Dollar Bet," Zero Hedge, T. Durden

"While the sur-realities of just what Corzine and the rest of the MF Global 'traders' did has been extensively discussed here and elsewhere, PBS' Frontline provides the most succinct (and relatively in-depth) documentary on just what occurred from how the corrupt CEO lobbied regulators who had the power to stop his risky bets to the endgame realization of the missing customer money. A narrative, not just of "a bet that went bad", but "a Wall Street morality tale". Must watch!

The story of Jon Corzine, the former head of Goldman Sachs and political power broker, who took over MF Global in the spring of 2010 with oversize ambition and a passion for risk. But after a massive bet on European debt turned sour, the firm lay in ruins, with more than a billion dollars of customer funds missing." (videos at link)

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11/2/11, "Corzine, top Obama fundraiser, under FBI investigation," MSNBC, M. Isikoff

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7/15/11, "Katzenberg, Corzine and Wintour top Obama's bundler list," The Hill, D. Strauss

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4/5/11, "Obama fundraiser at Corzine home," Politico, M. Haberman

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4/28/11, "Remarks by the President at DNC event," Obama at the home of bundler Jon Corzine, White House press release

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8/11/11, "Jon Corzine's name linked to the U.S. Department of Treasury," Newark Independent Examiner, Covin

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11/1/2009, "Barack Obama puts prestige on line for Jon Corzine," Politico

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11/1/11, "MF Global violated customer cash rules," AP, USA Today

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Obama campaigns for Corzine in NJ, July 16, 2009, ap photo.

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11/4/11, "Jon Corzine Hires Criminal Defense Lawyer," Business Insider

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Jon Corzine among names released 3 months after March 2011 White House meeting:

6/24/11, "W.H. releases DNC meet names," Politico, Gerstein, Negrin

"Former New Jersey Gov. Jon Corzine, former technology executive Bernard Schwartz and banking executive James Staley were among 30 well-connected figures in the business and finance world who met with President Barack Obama at the White House in March for an unusual economic
  • discussion organized by the Democratic National Committee."...

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The NY Times leaves out the fact that Gov. Jon Corzine was present at a White House meeting in March for Wall St. executives and supporters:

6/12/11, "Obama Seeks to Win Back Wall St. Cash," NY Times, N. Confessore

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11/3/11, "Remember that fundraiser at Jon Corzine Home? “Wall Street Guy” Is Now Being Investigated By The FBI," Politisite

Good summary of Corzine-Obama connections including:

6/23/2008, "Corzine profile rises in Obama camp," Newark Star-Ledger, Heininger

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Corzine still listed as bundler for Obama 2012 campaign, raised almost $900,000 for him so far.


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