September 15, 2012
Freeh is fighting for the entrenched and engorged banking status quo, where legitimizing the theft of hundreds of millions by Jamie Dimon is just another part of the job.
Giddens is doing great work. Freeh’s statements that portray events as a feud that should be settled amicably are disingenuous and inaccurate. As Giddens points out they have different roles and objectives. Giddens is charged with reimbursing customers while Freeh’s goal is to reimburse creditors (JPM) at the expense of MF customers. Freeh has a number of conflicts here as he fights to allow Jamie Dimon to hold on to stolen customer funds.
The fact that the law has been morphed and abused to make customers not first in line is a travesty of our bankruptcy and creditor system and only occurred because big banks (the creditors of MF Global) lobbied to have the rules changed in the first place.
Corzine Complains to Bankruptcy Judge
NEW YORK, Aug 29 (Reuters) – Former MF Global Chief Executive Jon Corzine is fighting efforts by a bankruptcy trustee to join forces with customers suing him.