It's about MF'n time we got some truth about Corzine...

[doom&gloom]

Now let's see if the kleptocracy will give up "one of it's own"...

http://www.bloomberg.com/news/2012-0...memo-says.html

MF Global’s Corzine Ordered Funds Moved to JPMorgan, Memo Says


By Phil Mattingly and Silla Brush - Mar 23, 2012 1:04 PM PT
Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. (JPM)accounts in London, according to an e-mail sent by a firm executive.

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

O’Brien’s internal e-mail came as the New York-based broker found intraday credit lines limited by JPMorgan, the firm’s clearing bank as well as one of its custodian banks for segregated customer funds, according to the memo, which was prepared for a March 28 House Financial Services subcommittee hearing on the firm’s collapse. O’Brien is scheduled to testify after being subpoenaed this week.

*snip*

The real questions are 1) why did it take such a MF'n long time for this info to come public and 2) why isn't JC in handcuffs doing the Wall Street perp walk?

[Thailandnotes]

Re: It's about MF'n time we got some truth about Corzine...

She will take the 5th, but the questions should be interesting. from the NYT...

A Congressional subcommittee voted on Wednesday to subpoena an MF Global executive at the center of a federal investigation into wrongdoing at the firm.

The executive, Edith O’Brien, must appear next week before Congress for a hearing about the chaotic final days before MF Global filed for bankruptcy in October. The subpoena came despite Ms. O’Brien’s assertion that she would not answer questions from lawmakers; she was expected to invoke her constitutional right against self-incrimination.

Ms. O’Brien, MF Global’s assistant treasurer who was based in Chicago, has also declined to cooperate with federal prosecutors without first receiving immunity from criminal charges. The federal investigation — which involves regulators, the F.B.I. and federal prosecutors in New York and Chicago — is unrelated to the Congressional inquiry.

Still, the decision to subpoena Ms. O’Brien sets up what could be a standoff with lawmakers, who are demanding answers about how more than $1 billion in customer money disappeared from MF Global. Ms. O’Brien, who oversaw the firm’s use of customer money, is expected to be the first MF Global employee to invoke her Fifth Amendment rights before Congress.

[seanm123]

Re: It's about MF'n time we got some truth about Corzine...

How does a back office administrator in Chicago hire Lloyd Blankfein's criminal lawyer? Someone like Edith O'Brien does not normally have those kinds of heavy hitting Washinton DC connections. The Grand Jury can give her Immunity, but I have my doubts that it will ever get there.

[Master Shake]

Re: It's about MF'n time we got some truth about Corzine...

How does a back office administrator in Chicago hire Lloyd Blankfein's criminal lawyer? Someone like Edith O'Brien does not normally have those kinds of heavy hitting Washinton DC connections. The Grand Jury can give her Immunity, but I have my doubts that it will ever get there.

I think they key word in your post may be "Chicago."

[lektrode]

Re: It's about MF'n time we got some truth about Corzine...

I think they key word in your post may be "Chicago."

and blankfein seems perty key too....

[charliebrown]

Re: It's about MF'n time we got some truth about Corzine...

Is there anything in the Sarbanes-Oxley that can put JC away? I thought the high level concept was that the CEO can no longer plead, I didn't know. I'm not responsible.

[c1ue]

Re: It's about MF'n time we got some truth about Corzine...

Is there anything in the Sarbanes-Oxley that can put JC away? I thought the high level concept was that the CEO can no longer plead, I didn't know. I'm not responsible.

There are all sorts of laws, SarbOx is only one. There are much older laws concerning the protection of consumer deposits/accounts.

There has to, however, be the regulatory will to prosecute.

In our present era, I have yet to see it.

[lektrode]

Re: It's about MF'n time we got some truth about Corzine...

...There has to, however, be the regulatory will to prosecute.

In our present era, I have yet to see it.

well... when we hear (on primetime tv/60minutes, in reply to a direct question):
"...from 40000feet nothing looks illegal..."
what should we expect?

and whats amazing is there was little to no reaction from the rest of the media?


and could you just imagine the reaction if the prev occupant had made that statement?

[Thailandnotes]

Re: It's about MF'n time we got some truth about Corzine...

The star witness in a congressional hearing about MF Global Holdings Ltd.'s collapse has told Justice Department representatives through her lawyers details about transactions that ended up dipping into customer funds, people familiar with the matter said.

But Edith O'Brien, the assistant treasurer at MF Global, isn't expected to reveal those details when she appears at Wednesday's hearing of the House Financial Services Committee's oversight and investigations subcommittee. Ms. O'Brien plans to invoke her constitutional right against self-incrimination and to decline to answer questions, people familiar with the matter said.

Ms. O'Brien, 46 years old, who has been working for an MF Global bankruptcy trustee, wasn't expected as of Tuesday afternoon to give a statement, but members of the subcommittee will still direct questions to her, a person familiar with the matter said. After the hearing, she is planning to depart Washington for a family vacation, another person familiar with the matter said.

WSJ

[dcarrigg]

Re: It's about MF'n time we got some truth about Corzine...

The star witness in a congressional hearing about MF Global Holdings Ltd.'s collapse has told Justice Department representatives through her lawyers details about transactions that ended up dipping into customer funds, people familiar with the matter said.

But Edith O'Brien, the assistant treasurer at MF Global, isn't expected to reveal those details when she appears at Wednesday's hearing of the House Financial Services Committee's oversight and investigations subcommittee. Ms. O'Brien plans to invoke her constitutional right against self-incrimination and to decline to answer questions, people familiar with the matter said.

Ms. O'Brien, 46 years old, who has been working for an MF Global bankruptcy trustee, wasn't expected as of Tuesday afternoon to give a statement, but members of the subcommittee will still direct questions to her, a person familiar with the matter said. After the hearing, she is planning to depart Washington for a family vacation, another person familiar with the matter said.

WSJ

I wasn't the first to post the song here, but I was the first to post a song about Corzine (Johnny I hardly knew ya). But anyhow, here's Cohen again: