{"id":187332,"date":"2013-04-04T19:27:00","date_gmt":"2013-04-05T00:27:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/04\/04\/not-surprising-news\/"},"modified":"2013-04-04T19:27:00","modified_gmt":"2013-04-05T00:27:00","slug":"not-surprising-news","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/04\/04\/not-surprising-news\/","title":{"rendered":"Not Surprising News\u2026\u2026\u2026"},"content":{"rendered":"

Though it is surprising that it was former FBI director Louis Freeh who reported that Jon Corzine ran MF Global into the ground<\/a>: (Thorough investigation is not<\/b> what his consulting business is all about)<\/p>\n

The “negligent conduct” of Jon Corzine and other officers of the MF Global Holdings Ltd brokerage contributed to the firm’s dramatic collapse in 2011, according to a report by the bankruptcy trustee.<\/span>

<\/span>The report by former FBI director Louis Freeh said the failure of MF Global’s officers contributed to losses of as much as $2.1 billion and adds to the growing number of reports and investigations pointing to their liability.<\/span>

<\/span>Freeh has prepared a lawsuit against former executives for breaches of fiduciary duty, but had not filed it pending the outcome of talks with a mediator appointed in a separate securities class action, according to the report.<\/span>

<\/span>Freeh’s 124-page document blamed the collapse on “the risky business strategy engineered and executed by Corzine and other officers and their failure to improve the company’s inadequate systems.”<\/span>

<\/span>While the report was sharply critical of Corzine’s conduct, it did not focus on one of the biggest mysteries of the MF Global collapse: the misappropriation of funds from customer trading accounts.<\/span><\/p><\/blockquote>\n

What, you mean that Freeh was too busy looking for Monica Lewinski’s blue dress to figure out who stole the f%$#ing money?<\/p>\n

Now, there’s<\/b> a surprise.<\/p>\n

When Freeh is on the case, it is not about finding wrong-doers, it’s about protecting the powerful and generating PR.<\/p>\n","protected":false},"excerpt":{"rendered":"

Though it is surprising that it was former FBI director Louis Freeh who reported that Jon Corzine ran MF Global into the ground: (Thorough investigation is not what his consulting business is all about) The “negligent conduct” of Jon Corzine and other officers of the MF Global Holdings Ltd brokerage contributed to the firm’s dramatic …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1052,1004,979],"tags":[],"class_list":["post-187332","post","type-post","status-publish","format-standard","hentry","category-corruption","category-crimes","category-finance","category-wanker"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187332"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=187332"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187332\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=187332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=187332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=187332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}