Tuesday, March 27, 2012
Alex talks with Gerald Celente about Jon Corzine and the MF Global case. The former Goldman Sachs boss Corzine faces legal liability after he ordered money from the segregated accounts of clients transferred to a U.K. account as his brokerage neared collapse. Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author. He lost six figures to Corzine and MF Global last November.
A memo released by the House Financial Services subcommittee contradicts Corzine’s claim, made under oath before Congress, in which the former New Jersey governor claimed, “I did not instruct anyone to lend customer funds to anyone.”
$200 million dollars in customer funds, part of a $1.6 billion in client money that disappeared, was sent to MF Global’s account with JP Morgan by direct order of Corzine, the email reveals.
“The memo released Friday details an email by Edith O’Brien, an assistant treasurer at MF Global, saying the transfer last October 28 “per JC’s direct instructions” would cover an overdraft in the London account of JPMorgan Chase. “JC” stood for Corzine,” reports Politico.
The fact that the email proves Corzine lied under oath, as well as violating securities law, was almost instantaneously met with an aggressive establishment media effort to defend Corzine, with both the New York Times and Time Magazine claiming Corzine did not know the money was from customer accounts and that the O’Brien email “was not a smoking gun”.
To claim that an internal MF Global email which directly implicates Corzine as the instigator behind a transparent attempt to steal customer funds is “not a smoking gun” is a manifestly ludicrous assertion to make.