2 ms·
How else can you explain John Corzine is still walking free I'm sure you know this, but for others not following so closely: the commodities broker for the
by PhantomGremlin 12y ago
How else can you explain John Corzine is still walking free
I'm sure you know this, but for others not following so closely:
the commodities broker for the "guy" from
London was MF Global, the sleazy firm that
Corzine was running during the Flash Crash
So now they are trying to extradite a minnow, but the scum heading MF Global have so far avoided any fallout. As Wiki puts it[1]:
"Crimes have been committed here without a doubt.
We think there are enough facts out here to start
arresting people and start filing charges."
However, by August 2012, criminal investigators
had concluded that charges against Corzine,
or any other of MF Global's former executives
or employees would be unlikely.
MF Global allowed some clown trading out of his house to place orders for billions of dollars of futures contracts. If any reasonable percentage of those had been filled, the disruption to the markets would have been enormous. Not only did the "guy" in London not have enough capital to place those orders, they were big enough that MF Global itself didn't have enough capital. Of course, MF Global shortly later turned out to be a shell game, so maybe all that would have happened is they would have blown up a few months earlier.
[1] https://en.wikipedia.org/wiki/MF_Global#April_2012:_Possible_Criminal.2C_Civil_Actions_Against_Executives.2C_Employees https://en.wikipedia.org/wiki/MF_Global#April_2012:_Possible...