As Day In Court Looms, Corzine Tries To Settle MF Global Fraud For Just $5 Million

Ah yes, Mr. Corzine. We haven’t seen much of you these days. Of course we didn’t summer in the Hamptons this year.

$5 million is slightly more than a speed bump for Mr. Corzine. But just barely.

Here’s a little refresher on what happened at MF Global.

(From Zerohedge)

Five years after MF Global’s collapse after big, levered bets on European bonds blew up leaving a $1.6 billion shortfall in customer funds,

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Excerpts of Hillary Clinton’s Paid Speeches to Goldman Sachs Finally Leaked, Trump hit with self inflicted right cross

One particularly remarkable thing about these speeches is that it took Wikileaks to get them out to the public. Clinton gave dozens of speeches after her failed 2008 run and yet no recording or partial recording of these speeches emerged to our knowledge. No one had their phone on? No one?

Regardless the details are out now and they reveal about what many people expected, someone who is very cozy with the banking industry and who seemed to take some pride in the fact that her (mostly) newly amassed wealth (largely from speeches for $200,00+) separated her from the petty middle class.

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Wells Fargo or the Federal Reserve: Who’s the Bigger Fraud?

By Ron Paul

The Wells Fargo bank account scandal took center stage in the news last week and in all likelihood will continue to make headlines for many weeks to come. What Wells Fargo employees did in opening bank accounts without customers’ authorization was obviously wrong, but in true Washington fashion the scandal is being used to deflect attention away from larger, more enduring, and more important scandals.

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‘The longer central banks interfere, the worse the crash’

“I smell…Central bankers.”

How this obvious truth eludes so many economists is beyond me.

It’s simple. The central banks seek to goose the economy. They lower interest rates below the real market interest rate. As such people, institutions, everyone takes advantage of the relatively cheap credit. But as this cheap credit is taken advantage of malinvestment (that is investment that would not have happened if the market had set rates) begins to build up. It builds and builds and builds until there is so much malinvestment the economy topples on itself.

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Clinton’s GOP supporters expect something in return (Like jobs and influence)

Milton Friedman (and others) was famous for saying that “there ain’t no such thing as a free lunch.” And truer words have never been written or said. Almost as true however is that “there ain’t no such thing as a free political endorsement in Washington DC” either.

Many of the #nevertrumpers have thrown their lots in with Ms. Clinton. These folks are mostly banking/political Bushite types like Hank Paulson and John Negroponte.

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Shameful and is it even legal? Look Who’s Getting That Bank Settlement Cash – Chicago/3rd World politics

The one on the right just got impeached for using her office to line the pockets of her friends and political allies.

A friend of mine asked how this was even legal. I sure as heck don’t know.

Fine the banks for billions and then take that money and just give it to Obama supporters and friends? Third world politics totally. Chicago politics totally. We have definitely regressed as a country over the last decade.

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Crony Capitalism is a Feature (Not a Bug) of Obamacare

We have long asserted this. Obamacare is/was good for the insurance companies, the pharmaceutical companies, the drug stores, all sorts of large vested interests. The lobbyists for these interests wrote large pieces of the legislation.

Obamacare is a vehicle for cronyism. That is its nature. That is what makes Obamacare Obamacare.

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The big defense contractors are lining up behind Hillary Clinton

I am currently editing a collection of past essays and last night I was editing the “neocon” chapter. I noticed that we argued multiple times in 2014-2015 that with the rise of Rand Paul the neocons, the pro-war crowd in the GOP and with them the weapons manufacturers, might defect to Hillary Clinton.

But as it turned out it wasn’t Rand who sent the big government GOP war advocates to Hillary, it was Trump.

(From Rare)

Defense contractors are accustomed to getting what they want.

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The TEA Party was Murdered – and it was an Inside Job

The TEA Party was, and sadly we must now use the past tense, a ray of light in a time of enveloping gloom. After the exasperation caused by George Bush and his profligate spending and foreign adventurism, the bailouts of the banks, and the ascendancy of Barack Obama who promised only more profligacy, people rose up and said – no more!

This was the TEA Party. TAXED – ENOUGH – ALREADY.

Most people who care tie its birth to the below rant by Rick Santelli on CNBC.

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