President Barack Obama told us Jon Corzine was looking out for the little guy.
Never mind Mr. Corzine’s 1% pedigree as a former Goldman Sachs chairman. Never mind how Mr. Corzine essentially bought himself a U.S. Senate seat, spending his personal Goldman Sachs loot in one of the most expensive senatorial races ever. Never mind the dough Mr. Corzine stuffed in Mr. Obama’s pocket.
Here’s what Mr. Obama said in October 2009 while stumping for Mr. Corzine’s re-election bid as the Democratic governor of New Jersey:
• “You’ve had an honorable man, a decent man, an honest man, at the helm of this state. … He’s fought for what matters to ordinary folks.”
• “People…say, ‘You know, I was saving up all my life. …. Suddenly, because of this financial crisis, I may have to go back to work.’ “
• “Jon knows these are challenging times. This is why he got into public service. He didn’t do it for the paycheck.”
• “This crisis…came about because of the same theories, the same lax regulation, the same trickle-down economics that the other guy’s party has been peddling for years.”
• “Jon’s got the mop and he’s cleaning up after somebody else’s mess.”
Now someone else has the mop, and they’re cleaning up Mr. Corzine’s mess. [….]
“One of the things you’ve got in Jon Corzine is somebody who tells it to you straight,” Mr Obama said.
You see in microcosm the entire lie that is Obama and liberalism. Republicans are crooks. Only Democrats care about the little people. Republicans created the mess. Democrats are going to fix it.
The problem is that liberals are even more arrogant than they are foolish and naive.
Everything Obama says, everything Obama believes, is a lie.
Here’s what Joe Biden said about Jon Corzine – while he was pointing out how team Obama repeatedly asked Corzine for advice and trusted him implicitly:
“I literally picked up the phone and called Jon Corzine and said Jon, what do you think we should do,” Biden said. “The reason we called Jon is that we knew that he knew about the economy, about world markets, how we had to respond, unlike almost anyone we knew. It was because he had been in the pit — because he had been in the furnace. And we trusted his judgment.”
That’s right, Jon Corzine was a trusted adviser to Obama and Biden. That’s why our economy is in such great shape now. And the guy who helped Obama put together the massively failed stimulus also just put together the fourth largest bankruptcy in American history as he put his liberalism to work at MF (which stands for “Managed Futures”) Global and helped himself to other people’s money.
Here’s what Obama’s and Biden’s pal – the slick little weasel that Obama said was looking out for the little guy exactly as Obama himself was looking out for the little guy – has been up to:
11/05/2011 @ 12:48PM |6,308 views
The Mysterious Disappearance of MF Global’s $630 Million
Robert Lenzner, Forbes Staff
Where oh where did Corzine’s $630 million go to? The search and rescue teams are all about the mighty financial institutions madly trying to find $630 million of customers money that stupidly and unethically and perhaps illegally was commingled with MF Global’s own capital in order for the firm to stay in business and avoid that deadly credit rating reduction that was one of a number of kisses of death.
Is it at JP M0rgan? At first, it was announced to be resting easily and safely at the House of Morgan. But, apparently not.
Then, some fantasist figured the New York Federal Reserve Bank had grabbed it to secure its safety from mobs of enraged clients. No, that rumor has been put to bed.
I ask you; how is it possible that, days after MF Global filed for bankruptcy, a sum as large as $630 million still be missing in action. Something is wrong in the state of Denmark. Didn’t some computer keep track monies coming in and going out at MF Global?
And there are other pointed inquiries that must be made into this ridiculously outrageous confusion.
1. How was it that former Democratic Senate bigwig Corzine obtained approval from the regulators to combine other people’s money– and MF Global’s money in the first place? This is an outrage– and if true, those regulators must be fired immediately– and regulators hired who play by the rules of the game. This epic tale is kissing cousin to the unwillingness of the law to charge criminal fraud against some of the investment banks that sold securities they knew to be nearly worthless.
2. How can it be that JP Morgan does not know for a certainty that the $630 million is money that ended up on their books from the chaotic ramifications of MF Global’s bankruptcy? It doesn’t fill me with confidence that JPM’s computers, its reporting system, its logistical reporting of its affairs up and down the ranks of the bank is working mellifluously. Sounds like a job for the Senate Banking Committee, or the Fed in Washington to investigate and make sure we can know who owes what to whom in our financial system
3. Then, there’s the confusion about oversight of MF Global. Here we are 3 years on from the meltdown, and still a firm like MF Global seems to have several masters that are obliged to understand its affairs. The CFTC, for starts, then what about the SEC, and the commodity exchanges where MF does its trading. We had better resolve WHO has the role of BIG DADDY in making sure some other more crucial firm doesn’t come unstuck and lead to the mysterious disappearance of several billion dollars. Or even several tens of billions of dollars.
We are still paying for an apathetic financial regulatory system. Get James Stone, former CFTC Chairman, to form a special investigation committee, to map out the mandatory changes that must be made. And let’s hope the powers that be find the missing $630 million by then. Let’s hope it’s the result of sloppy record keeping, inadequate disclosure, the failure of systems– and not some perfidy.
We’re starting to learn what happened. Remember Maxine Waters getting caught on tape threatening to “nationalize” the oil companies? It has simply always been the tendency of liberals to “liberate” other people’s money and put that money to a “greater purpose.” And in that spirit, Jon Corzine liberated investor money, taking it without the investors’ permission to invest it toward the greater needs of MF Global. And now it’s simply gone, you know, like the $862 billion (actually $3.27 TRILLION) Obama did the same thing with in the name of “stimulus” or more specifically the $535 million Obama did it with in the name of “green energy.”
These damn liberals are all fascist crony capitalist thugs and thieves who would never dream of risking their own damn money when they can just take yours instead.
Update 4/23/12: Just to further document how incredibly corrupt Barack Obama is, Jon Corzine is STILL bundling campaign money for him.