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Tag Archives: Corzine

Why No Perp Walks on Wall Street 4 Years into the Economic Crisis?

We are coming up on the 1 year anniversary of MF Global’s implosion yet Jon Corzine still roams free. He still holds that he has no idea where the $1.6 billion went to.

“It was there one minute, and then, it just disappeared. I wish I could help but I am just as befuddled as you. In the mean time you don’t mind if I jet out to the Hamptons while you guys sort this out do you? It is so nice by the sea this time of year.”

But Corzine is just one of dozens of bankers who in another era would have seen a pair of wrist shackles. Why is this era so different? Why in this time of unprecedented economic carnage and obvious chicanery has no one gone to jail?

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“Attorney General Eric Holder’s Department of Justice is the biggest enabler of financial crime in US history.” – James Koutoulas, MFGlobal Plaintiff’s Attorney

Corzine shipped his client’s funds to JP Morgan (allegedly) to cover lines of credit because his bets went the wrong way in Europe. The attorney for the people who lost their money believes the evidence of fraud is pretty clear. The DOJ however has not been pursuing leads with the vigor one might expect in such a case.

Koutoulas explains below.

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