“[Jon Corzine] was an ally with the Obama administration in helping us develop a national recovery plan.” —Barack Obama, 2009
And the folks who trusted Corzine with their cash look to recover about as much of it as did those poor fools who trusted the Democrats and Barack Obama with their tax dollars:
Between 1996 and 2004, the majority of donations from the securities and investment industry to federal candidates and parties went to the GOP, but the industry changed its tune in 2006, giving 53 percent of donations to Democratic candidates and parties. During the run-up to the 2008 elections, these companies gave 57 percent of their contributions to Democrats.
Well, there’s one born every minute, as P.T. Barnum was fond of pointing out, and in the 2008 election in which the suckers installed a thinly disguised Marxist like Obama as president, that adds up to over a thousand years of collective idiocy. While the President’s particular forte is immaculate deception, pal Corzine is an expert at financial legerdemain. A former head of Goldman-Sachs, the investment banking firm charged with fraud by the Securities & Exchange Commission due to its role in helping fuel the sub-prime mortgage crisis by short-selling CDOs (collateralized debt obligations), the ultra-liberal Corzine spent $62 million of his own simoleons in purchasing a U.S. senatorial seat in 2000, and another $38 million to become governor of New Jersey in 2005. After eventually earning the disapproval of 58% of the voters in the Garden State (as the prescient ex-Mrs. Corzine predicted, “[He] let his family down, and he’d probably let New Jersey down, too.”), Corzine became head of MF Global in 2010, where
[…] he bet heavily on European sovereign debt. As those debts started to go bad, he co-mingled customers’ settlement cash with the firm’s own cash.
On October 29, the Chicago Mercantile Exchange (CME Inc.) reported that the New York subsidiary of MF Global was short $600 million in customers’ accounts. Two days later, the entire firm declared bankruptcy. Four days after that, Corzine resigned. And today, three weeks after the initial bankruptcy, the bankruptcy trustee reported that the shortfall was double what he had thought. (Former Gov. Corzine might be in trouble over MF Global)
Regulators currently suspect that MF Global improperly used customer money for its own purposes in the days before filing for Chapter 11 protection, according to people briefed on the matter. (MF Global Trustee Says Shortfall Could Exceed $1.2 Billion)
Corzine, with others, has been called to testify before the House Financial Oversight & Investigations panel where the ex-financial whiz who took billions will likely be reduced to taking the fifth. Elsewhere, another Obama buddy–‘fundraiser’ Tony Rezko–has been sentenced to 10 1/2 years in jail for extortion and corruption. One of the things Tony tried to sell in order to ‘raise funds’ was the President’s former Illinois senate seat. So when I heard that Obama had pardoned a pair of turkeys for Thanksgiving…
(“Some of you may know that recently I’ve been taking a series of executive actions that don’t require congressional approval. Well, here’s another one. We can’t wait to pardon these turkeys — literally. Otherwise, they’d end up next to the mashed potatoes and stuffing.”)
…I was understandably confused. Obama’s turkeys usually arrive already stuffed.