Jon Corzine Will Face A Day In Court

38,000 ranchers in Montana are ticked off. Jon Corzine is the new Voldemort of Wall Street. He is running up and down Diagon Alley staying in the shadows until he gets strength to return again. Good thing for him, NYC has stricter laws than Montana.

MF under his leadership stole $1.2 billion from their customers. Corzine is the Bernie Madoff of the futures industry and that’s hard to pull off.

Exchanges also lost billions in value because of Corzine. Shareholders of $ICE, $NYX, and $CME ought to file a class action against Corzine as well. He owes them all many dollars per share.

There is not a chance that this would have taken as long as it has unless Corzine was able to gather some political cover for himself. Things aren’t proceeding at warp speed. They are happening in government bureaucratic speed.

We aren’t close to reaching the breaking point where the government bureaucrats need to change sides to make things go even faster. They are still trying to work on the narrative and line up the pigeons, “control the message and outcome”, before it breaks.

The best thing the private sector that was affected can do is continue to draw attention to it and file bigger and bigger lawsuits. 38,000 farmers in Montana is just a drop in the bucket. C’mon lawyers, let the fireworks begin!

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thanks for the link Ace.

2 thoughts on “Jon Corzine Will Face A Day In Court

  1. What’s the CME’s complicity here?  Didn’t they change the firm’s B-D designation in the week leading up to bankruptcy in order to make sure that a certain SIFI was kept whole?

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