20 Replies to “Occupy John Corzine's gazebo!”

1. bh says:

   November 1, 2011 at 4:10 pm

   I’ll probably never stop laughing that they went bankrupt because they bought a bunch of European bonds.

   Guess that haircut was a bit more like a scalping.

2. geoffb says:

   November 1, 2011 at 4:15 pm

   What began as nearly $1 billion missing had dropped to less than $700 million by late Monday. It is unclear where the money went, and some funds are expected to trickle in over the coming days as the firm sorts through the bankruptcy process, the people said.

   But regulators are examining whether MF Global diverted some customer funds to support its own trades as the firm teetered on the brink of collapse. If that was the case, it could violate a fundamental tenet of Wall Street regulation: Customers’ funds must be kept separate from company money.

   Such a finding would move the discussion from sloppy internal controls at MF Global to something more troubling. While the investigation is in its early days, it raises the specter that regulators ultimately could sanction the firm or the employees responsible.

   Mingle-mingle and you lose that special tingle.

3. bh says:

   November 1, 2011 at 4:20 pm

   Note that little bit of spin.

   That’s not just a Wall Street regulation. (As in, we need more regulations and oversight because of tricksy Wall Street.)

   No one gets to commingle funds. Not country lawyers or anyone who takes accounts.

   Pierce that corporate veil, baby!

4. Crawford says:

   November 1, 2011 at 4:47 pm

   The lefties will shriek “this is why we need regulation!” while ignoring that the criminals here are the people they would trust to enforce the regulation.

5. Pablo says:

   November 1, 2011 at 4:50 pm

   No one gets to commingle funds. Not country lawyers or anyone who takes accounts.

   Pierce that corporate veil, baby!

   I watched a MA lawyer get disbarred over that to the tune of about $1K. Of course, they wanted her ass for being a pain in theirs, so….\

   Meanwhile, on the Occupy front: An Open Letter to the Citizens of Oakland from the Oakland Police Officers’ Association

   1 November 2011 – Oakland, Ca.

   We represent the 645 police officers who work hard every day to protect the citizens of Oakland. We, too, are the 99% fighting for better working conditions, fair treatment and the ability to provide a living for our children and families. We are severely understaffed with many City beats remaining unprotected by police during the day and evening hours.

   As your police officers, we are confused.

   On Tuesday, October 25th, we were ordered by Mayor Quan to clear out the encampments at Frank Ogawa Plaza and to keep protesters out of the Plaza. We performed the job that the Mayor’s Administration asked us to do, being fully aware that past protests in Oakland have resulted in rioting, violence and destruction of property.

   Then, on Wednesday, October 26th, the Mayor allowed protesters back in – to camp out at the very place they were evacuated from the day before.

   To add to the confusion, the Administration issued a memo on Friday, October 28th to all City workers in support of the “Stop Work” strike scheduled for Wednesday, giving all employees, except for police officers, permission to take the day off.

   That’s hundreds of City workers encouraged to take off work to participate in the protest against “the establishment.” But aren’t the Mayor and her Administration part of the establishment they are paying City employees to protest? Is it the City’s intention to have City employees on both sides of a skirmish line?

   It is all very confusing to us.

   Meanwhile, a message has been sent to all police officers: Everyone, including those who have the day off, must show up for work on Wednesday. This is also being paid for by Oakland taxpayers. Last week’s events alone cost Oakland taxpayers over $1 million.

   The Mayor and her Administration are beefing up police presence for Wednesday’s work strike they are encouraging and even “staffing,” spending hundreds of thousands of taxpayer dollars for additional police presence – at a time when the Mayor is also asking Oakland residents to vote on an $80 parcel tax to bail out the City’s failing finances.

   All of these mixed messages are confusing.

   We love Oakland and just want to do our jobs to protect Oakland residents. We respectfully ask the citizens of Oakland to join us in demanding that our City officials, including Mayor Quan, make sound decisions and take responsibility for these decisions. Oakland is struggling – we need real leaders NOW who will step up and lead – not send mixed messages. Thank you for listening.

6. bh says:

   November 1, 2011 at 4:56 pm

   Would love to have video reaction of the Mayor to that letter.

7. Crawford says:

   November 1, 2011 at 5:06 pm

   Don’t get what the police are confused about.

8. Pablo says:

   November 1, 2011 at 5:12 pm

   At most, they’re confused by how confused their mayor is. Or, some of them might be coming to the realization that they’re cannon fodder.

9. Lost My Cookies says:

   November 1, 2011 at 5:54 pm

   Amazing. He thought he’d get bailed out. Just like LTCM, AIG, Goldman… hell, everybody but Lehman.

   The moral here? Don’t piss off Hank Paulson.

10. LBascom says:

    November 1, 2011 at 6:47 pm

    But the fact that one of the leading pillars of his campaign appears to be guilty of all the sins generally associated by Democrats with the 2008 financial meltdown that helped elect Obama in the first place ought to cut the legs out from under the president’s populist pose.

    You’d think, huh?

    I think I understand the timing for the whole Cain, er, whatever the hell that was.

    This Corzine thing will have very short legs I bet, and the owies won’t ever even know about it.

11. bergerbilder says:

    November 1, 2011 at 11:02 pm

    So, granny was actually being thrown over a cliff into the Aegean, not over The Palisades.

12. Alan Kellogg says:

    November 1, 2011 at 11:26 pm

    Did you say “gazebo”?

    Attack!

13. Topsecretk9 says:

    November 2, 2011 at 12:16 am

    The Occupy Wall Street movement, like the Tea Party, is a sign of a broader “anxiety” among middle-class Americans, Jon Corzine, ex-Goldman Sachs chief executive and Governor of New Jersey, told CNBC Tuesday.

    Shouldn’t CNBC disclaim MF Global head, Jon Corzine, was a big advertiser on their network? (who stiffed them for almost a million dollars it turns out?)

    http://www.businessinsider.com/jon-corzine-flies-mf-global-into-a-mountain-2011-11

    As we noted yesterday, Jon Corzine, the pilot who took over the MF Global plane and flew it into a mountain, contractually has the right to a $12 million golden parachute, which would presumably go a ways toward easing his regrets. We hope that, for decency’s sake, he waives it.

    If he doesn’t waive it, he can get in a long line of creditors including CNBC, from which Corzine’s MF Global bought (and didn’t pay for) some $845,000 of advertising. And, hopefully, if there’s any justice in the world, Corzine will be at the end of that line.

    Read more: http://www.businessinsider.com/jon-corzine-flies-mf-global-into-a-mountain-2011-11#ixzz1cWg0pq2e

14. Matt says:

    November 2, 2011 at 6:15 am

    One of the things that stood out to me in the early reporting of this was the utter lack of the word “democrat” when reporting the story. If this was a Republican former governor, I can only imagine how many times you’d see the word “Republican” in the story. Example : Former Republican governor Republican John Doe, who is a Republican, is CEO of Republican backed financial firm, Big Repblican LLC. Doe, who is also a Republican, has many Republicans working for him and has donated to Republican causes on numerous occasions. Mr. Doe, a Republican, is a well known associate of George W. Bush and the Koch Brothers, both of whom are Republicans and donate to Republican causes.”

    I also note how the NY Slimes points out that Mr. Corzine has not been accused of any wrong doing. Err. Your company just went bankrupt and its missing around 800 million dollars. If Corzine hasn’t been accused of wrongdoing, I’d love to know who’s going to take the blame for this. Democrats wanted to literally kill the Enron top dogs after that scandal (not t hat I blamed them) but in this case, there’s very little outrage.

15. LTC John says:

    November 2, 2011 at 6:43 am

    Somebody turn on the Bat-signal for Roddy Boyd!

16. Slartibartfast says:

    November 2, 2011 at 7:00 am

    Irritrivia: Corzine, having served five years and two weeks in the US Senate, is eligible for a full pension under the Federal Employees Retirement System guidelines.

17. I Am The .001% - The POH Diaries says:

    November 2, 2011 at 7:18 am

    […] Occupy John Corzine’s gazebo! […]

18. Squid says:

    November 2, 2011 at 8:20 am

    No one can help you. You must face the Gazebo alone.

19. Crawford says:

    November 2, 2011 at 8:31 am

    Democrats wanted to literally kill the Enron top dogs after that scandal

    Pure posturing. Had they been serious, those “top dogs” would have turned on their Democrat masters.

20. “MF Global Client Theft Estimate Doubled To $1.5 Billion?” says:

    November 2, 2011 at 3:46 pm

    […] suggested yesterday we keep an eye on the accounting. Seems today things are getting more interesting. Zero Hedge: […]

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