The Burning Platform If you are a billionaire former Goldman Sachs CEO, ex-governor, and one of Obama’s biggest donors and steal $1.2 billion directly from the accounts of your customers and cover-up that theft, then you are not a criminal. If you reveal the un-Constitutional spying on all American citizens by the government, you are a traitor and face life imprisonment. This is your American Republic in a nutshell. Anyone that doesn’t believe we are a corporate fascist oligarchy run by the ultra-wealthy for the benefit of the ultra-wealthy, just isn’t thinking. And the beat goes on.
There will be no criminal charges for former New Jersey Governor Jon Corzine over the use of customer funds leading up to collapse of MF Global.
The criminal probe into whether there was wrongdoing on the part of Corzine by the Department of Justice will now be dropped due to lack of evidence, said a report in The New York Post, citing a person with knowledge of the matter.
But the former CEO of Goldman Sachs is not out of the woods.
Corzine is facing civil charges by the Commodities Futures Trading Commission for illegally using customer funds in the last few days of MF Global to help keep the company afloat. The firm’s former assistant treasurer Edith O’Brien is also caught up in the scandal and charged by the CFTC for making the transfers.
Ultimately Corzine was charged by the regulator for failure to segregate and misuse of customer funds and failure to supervise diligently. O’Brien was charged with one count failure to segregate and misuse of customer funds.
To support the allegations, the CFTC used a recorded telephone conversations to support their charges that Corzine was fully aware of the transfers.
Both Corzine and O’Brien have denied any wrongdoing.
AT THE TOP OF THE TOTEM POLE AT THE CFTC SITS GENSLER Prior to joining THE CFTC, Gensler worked for 18 years at Goldman Sachs, where he was selected as a partner; in his last role he was Co-head of Finance.
Chairman Gensler is the co-author of a book, The Great Mutual Fund Trap, which presents common sense investment advice for middle income Americans. .
LET ME GUESS HIS NEXT BOOK WILL BE CALLED THE PRECIOUS METALS MARKET TRAP!
IT WILL BE INTERESTING TO SEE HOW THIS ONE FLUSHES DOWN