Journalist Nomi Prins Reports on Jon Corzine Congressional Testimony Over MF Global Collapse

new!MF'ing Bombshell! - Max Keiser: JPMorgan' DEATH THREAT Ordered Corzine to Pillage Personal Accounts +UPDATES

CME Exec Drops Bombshell that Corzine Knew About Customer Fund Transfers

Is Jon Corzine “Too Big to Be Indicted”?


Max Keiser: JPMorgan Ordered Corzine to Pillage Personal Accounts at MF Global


Former New Jersey governor and U.S. senator Jon Corzine testified Tuesday on Capitol Hill about his brief stint at the helm of the failed commodities and derivatives brokerage house MF Global, which in October became the largest failure on Wall Street since the collapse of Lehman Brothers in 2008. Corzine resigned from the firm last month after it filed for one of the largest bankruptcies in American corporate history, with almost $40 billion in liabilities. After MF Global went bankrupt, regulators discovered that up to $1.2 billion in customer funds that should have been kept segregated were missing. Corzine told two congressional committees that he never directed anyone at MF Global to misuse the funds, but the chairman of the Chicago Mercantile Exchange Group, Terry Duffy, testified Tuesdsay that Corzine was aware of loans that may have used customer money.

Democracy Now! speaks with Nomi Prins, a former investment banker turned journalist. "We're listening to someone try to dodge his way out of responsibility and accountability, which is very much what all the CEO's have done through the subprime crisis and through past crises," Prins says. She notes the lack of accountability for bankers involved in the financial crisis. "When you see 5,500 arrests across this country for the Occupy movement and you see zero on the part of CEO's and senior executives from Wall Street who took trillions of dollars out of our economy, out of the European economy, [and] are going around the world doing the same thing to Asia now and so forth, it is absolutely heinous. So I hope these movements continue."

Comment

You need to be a member of 12160 to add comments!

Join 12160

Please remember this website is supported by your donations...

 

Report an Issue

Forum

Poilitical Talk

Started by michael sean in Current News/Events 8 hours ago. 0 Replies

SABOTAGE

Started by Modern Feudal Serf in Population Control and Eugenics. Last reply by Tara on Sunday. 4 Replies

© 2014   Created by truth.

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2014 - all rights reserved. unless otherwise noted