A criminal investigation into . . . brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage. . .chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.
Or so says our ineptly led Department of Injustice, led by none other than Eric Holder. That Jon Corzine, the executive in question, was a former Democratic Senator and Governor, doesn't spring to mind when considering DOJ's decision not to prosecute. I feel compelled to repeat a Neil Barofsky quote that I used previously:
"The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true," Mr. Barofsky said in an interview last week. "It really happened. These suspicions are valid."$1 billion of investor money goes missing to fund the operations of MF Global and their excuse is that "in all the confusion, I didn't know which account I was stealing from?" It reminds of me of my dog, who thinks that during periods of high activity and confusion in the house, he can steal food off plates. Sometimes he even tries to create a little uproar just to get the chance. But he's a dog, so I expect it.
Of course, Holder isn't gong to allow stalwart Democrats to be prosecuted. Especially when the administration has run roughshod over the rule of law in the GM and Chrysler bankruptcies.
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Did Justice ever open a formal investigation?
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