Witness: Corzine knew that customer funds flew

posted at 10:55 am on December 14, 2011 by Ed Morrissey

Last week, Jon Corzine testified before Congress that he had no idea that the company he ran into the ground, MF Global, had borrowed money from customer accounts.  Corzine might end up wishing that he’d just taken the Fifth instead.  A witness directly contradicted his claim in Senate testimony yesterday, saying that Corzine not only knew about the raids on customer accounts, he ordered at least one of them himself:

The head of the private exchange tasked with overseeing MF Global said Tuesday that Jon Corzine may have been aware of a transfer of client funds from the firm he formerly led, possibly contradicting the former governor and senator’s statements under oath that he had no knowledge of the events that resulted in the disappearance of $1.2 billion in customer funds.

In a hearing before the Senate Committee on Agriculture, Nutrition and Forestry, Terrence A. Duffy, the chief executive of CME Group, said a senior female executive of MF Global told a CME auditor that Corzine — the former chief executive officer and chairman of the firm — was aware of a $175 million loan of customer money to a European affiliate of the now-bankrupt commodities brokerage.

“Mr. Corzine was aware because our employee had heard this, on the phone—‘Send back 175’ — and said he was aware of this loan,” Duffy told the Senate committee. …

Duffy didn’t elaborate on the exact nature of the $175 million loan that Corzine had allegedly known of, or whether that specific loan was among those that were illegal and improper. Futures firms are required to segregate customer money from the firm’s own funds, though there are circumstances under which moving customer money is permitted, provided there is sufficient collateral.

“The only thing I can tell you [is] that MF Global transferred customer money to its broker dealer, and that Mr. Corzine was aware of the loans being made from segregated accounts,” he said. When asked for elaboration, a CME spokesman said the firm would not comment beyond the remarks Duffy made at the hearing.

If that testimony holds up, Corzine has just set himself up for a perjury charge on top of his other woes.  That is a materially false statement of a kind that demands perjury prosecution; the entire point of the hearing was to determine how customers lost $1.2 billion in the collapse.  Giving knowingly-false testimony under oath to Congress could add several years to whatever sentence Corzine eventually gets.

Zero Hedge caught this yesterday:

Following another boring day of hemming and hewing, during which Corzine repeatedly exhibited unbearable amnesia and said he had no knowledge of virtually anything until Sunday night, here comes the CME Executive Chairman Terry Duffy, under oath, with what Roberts said “is a bomb” statement which basically says that Corzine lied under oath. Specifically, according to Duffy’s remarks during the Q&A, an MF Global employee, a woman, advised the CME that Corzine had been aware of a $175 million loan made to Euro affiliates just days prior to the bankruptcy: a loan which effectively was that of commingled customer accounts, and more importantly a refutation of previous statement under oath by the man who was “financial advisor” to none other than the vice president of the United States who said he did not know about this until late on Sunday. This was not in his prepared testimony.

This is why defense attorneys try to get their clients to take the Fifth in any hearing that comes before prosecutions.  It’s too easy to get tripped up by hostile questioners even if one isn’t intending to offer false and/or misleading testimony.  Taking the Fifth looks bad politically, but at the point where a client is facing a big SEC investigation, Congress is holding hearings, and over a billion dollars has gone missing, a competent defense attorney — or even one just out of law school — knows that the client’s political life is over anyway.

If confirmed, will this change the media coverage of Corzine and the MF Global scandal?  Two of the three broadcast networks have avoided even mentioning that the former New Jersey governor and US Senator is a Democrat, and no one else is bothering to mention that Corzine was one of Obama’s biggest bundlers in this cycle, as well as Obama’s liaison to Wall Street for ginning up big bucks for the re-election campaign.  I seem to recall the media getting into a lather over Ken Lay’s much less concrete connections to George W. Bush after Enron’s collapse.


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I wish I’d been a janitor at MF Global. I could’ve maybe picked up some of that misplaced money that nobody cared to keep track of.

RBMN on December 14, 2011 at 10:59 AM

Who did Corzine tick off? I’m amazed the LSM hasn’t buried this story.

El Salsero on December 14, 2011 at 11:00 AM

He’s a Democrat. We must feel sorry for him. He had only the best intentions.

LeftCoastRight on December 14, 2011 at 11:01 AM

I am so sick and tired of Democrats

whbates on December 14, 2011 at 11:01 AM

Did the Regime invest in any federal prison infrastructure with Porkulus money?

forest on December 14, 2011 at 11:01 AM

If that testimony holds up, Corzine has just set himself up for a perjury charge on top of his other woes.

Perjury? Corzine is a Democrat. They shed Perjury charges like Teflon. Just ask Bill Clinton.

Del Dolemonte on December 14, 2011 at 11:01 AM

Two men say they’re Jesus, one of them must be wrong. (where is my internet groupie, DS?)

This other dude gave testimony under oath, Corzine bluffs, someone is in deep trouble.

Bishop on December 14, 2011 at 11:01 AM

I wonder who is lying…

call me cynical if you’d like but I think it might be the person with more to lose. If I were a congressman I would recall John Corzine and press him based on this testimony. Dereliction of fiduciary duty should not be a defense.

Donerik on December 14, 2011 at 11:03 AM

Of course he knew. Any bundler for Obama knows the intricacies of pillaging the unprotected masses. Say, I wonder if that trust fund baby at occupy Wall Street Edward T. Hall III, will break off an epic rant about this?

RAGIN CAJUN on December 14, 2011 at 11:03 AM

Just as with the Fort Hood shootings, it’s way too early to draw any conclusions.

a capella on December 14, 2011 at 11:03 AM

Just to think of it, my state had elected this jackass. One would think that some of the voters didn’t have any skin in the budget game.

Archivarix on December 14, 2011 at 11:04 AM

thanks Ed

The next Corzine Q’s – A ‘capitalist’ & his cronies – Charles Gasparino

CoffeeLover on December 14, 2011 at 11:04 AM

Jail time of Corzine! (anyone remember Scooter Libby?)

michaelo on December 14, 2011 at 11:04 AM

http://www.nypost.com/p/news/opinion/opedcolumnists/the_next_corzine_7vnkJ2N2U0HhX3iH4BS4SK

Sorry I still don’t have the link thing figured out!

CoffeeLover on December 14, 2011 at 11:05 AM

In the Navy, if a ship runs aground or collides with another vessel, the Captain can say that he didn’t see what was happening. He’s still getting relieved and going to face a Board of Inquiry, but he can say whatever he wants to.

Corzine should be investigated by a Grand Jury and then a Federal Court.

TugboatPhil on December 14, 2011 at 11:06 AM

Best summary of yesterday’s MFGlobal issue: http://www.bloomberg.com/video/82746222/

trhediger on December 14, 2011 at 11:06 AM

trhediger on December 14, 2011 at 11:06 AM

Key Quote: “Mr. Corzine may have more motivation to fabricate.”

trhediger on December 14, 2011 at 11:07 AM

Just another cog in the Most.Transparent.And.Ethical.Administration.EVAH! (TM)

search4truth on December 14, 2011 at 11:07 AM

The MSM does seem to be interested in the Corzine story.Wish they put as much interest into Fast and Furious.Of course if the did they couldn’t use the “evil” rich, capitalist ,corporation angle they get to use here. It’s a shame it’s a Democrat.

sandee on December 14, 2011 at 11:08 AM

Corzine should be in jail already for committing fraud on the people of New Jersey. He signed Pension contracts HE KNEW we could not fund. I hope he ends up in the slammer.
And guess who scored financially in this debacle…SOROS! Gee no surprises here.

IlonaE on December 14, 2011 at 11:08 AM

Does Bernie Madoff have a cellmate yet?

BarefootinTN on December 14, 2011 at 11:08 AM

Forwarding address:

Otisville Correctional Facility, Care Of: Bernard L. Madoff

MTLassen on December 14, 2011 at 11:08 AM

Plausible deniability just left the building!

noeastern on December 14, 2011 at 11:09 AM

This story has been effectively buried; it’ll receive little mention.

BKeyser on December 14, 2011 at 11:09 AM

Two of the three broadcast networks have avoided even mentioning that the former New Jersey governor and US Senator is a Democrat, and no one else is bothering to mention that Corzine was one of Obama’s biggest bundlers in this cycle, as well as Obama’s liaison to Wall Street for ginning up big bucks for the re-election campaign.

By the time this is over, they won’t even be mentioning that he’s a former New Jersey governor or senator; just that he was the head of a Wall Street hedge fund, while at the same time throwing in some gratuitous line about GOP support for big financial institutions, and hope by inference viewers outside of the Garden State will assume he’s a Republican.

jon1979 on December 14, 2011 at 11:09 AM

Terrence A. Duffy, the chief executive of CME Group, said a senior female executive of MF Global told a CME auditor that Corzine — the former chief executive officer and chairman of the firm — was aware

So SFE told CME auditor, whom, I presume then told Duffy.

If that testimony holds up, Corzine has just set himself up for a perjury charge on top of his other woes

Problem being, this is double hearsay at this point. You have to get SFE herself on the stand as to how she actually knew. Certainly admissible at a Congressional hearing, but not at a criminal trial. If Corzine told SFE himself, that would be hearsay, though there are ways to get around it. Certainly there’s enough for a DOJ investigation. . . oh, wait I forgot who was the Attorney General.

rbj on December 14, 2011 at 11:09 AM

You would have to be an idiot to lie under oath while accusing someone else of lying under oath. Tell us how the undercarriage looks as the bus passes overhead, Corzine.

Mord on December 14, 2011 at 11:10 AM

In the Navy, if a ship runs aground or collides with another vessel, the Captain can say that he didn’t see what was happening. He’s still getting relieved and going to face a Board of Inquiry, but he can say whatever he wants to.

Corzine should be investigated by a Grand Jury and then a Federal Court.

Since Sarbanes/Oxley, it’s the same for any corporation. He’s responsible period; claiming he didn’t know is an admission of guilt (and failure of his primary responsibility) itself.

Strick on December 14, 2011 at 11:10 AM

I find this whole saga stunning. That he actually believed he could talk his way out of this is a demonstration of profound hubris.

flyfisher on December 14, 2011 at 11:11 AM

How is Corzine’s position any more defensible than Madoff’s? They both (apparently) procured funds from investors under false pretenses, and channeled the money for the benefit of themselves and their chums.

So why is he not sporting a new set of hand bracelets and a bright orange suit?

Mr Galt on December 14, 2011 at 11:11 AM

Obama says he needs $1.0 billion to finance his re-election campaign. MF Global, run by his primary Wall Street bundler comes up missing $1.2 billion. Coincidence? I figure the $0.2 billion discrepancy went to “grease the skids” and keep people mum. And I’ll bet you dollars to doughnuts that Corzine doesn’t pull any time.

Elric on December 14, 2011 at 11:11 AM

I can hear the sound of a slap on the wrist.

Jackson on December 14, 2011 at 11:11 AM

I find this whole saga stunning. That he actually believed he could talk his way out of this is a demonstration of profound hubris.

flyfisher on December 14, 2011 at 11:11 AM

Um, they’re Dems….remember????

search4truth on December 14, 2011 at 11:12 AM

Wait a sec. This is one of those he said, she said he knew things. Not good enough.
I would bet 10 thousand dollars that Corzine is lying, is guilty, and is going to prison if he doesn’t get pardoned. Obama will call this a political witch hunt and save his butt.
There is a lot more to learn. We know he’s a thief. Let’s wait and see where the money went. That’s going to be very interesting.
That much money is going to leave a trail like muddy footprints in the kitchen. It’s going to be like hiding a sunrise.

Capt Blasto on December 14, 2011 at 11:12 AM

“You know what we were doing? We were on the phone calling Jon Corzine — literally. I literally picked up the phone and called Jon Corzine, and said, ‘Jon, what do you think we should do?’
 
“The reason why we called Jon was because we knew he knew about the economy, about world markets, about how we had to respond, unlike almost anyone we knew … we trusted his judgment.”
 
- Vice President Joe Biden

rogerb on December 14, 2011 at 11:13 AM

This:

. . . said a senior female executive of MF Global told a CME auditor that Corzine — the former chief executive officer and chairman of the firm — was aware of a $175 million loan of customer money to a European affiliate of the now-bankrupt commodities brokerage.

“Mr. Corzine was aware because our employee had heard this, on the phone—‘Send back 175’ — and said he was aware of this loan,” Duffy told the Senate committee. …

Is pure Hearsay. It’s still damning as hell, but it’s heresay.

BigAlSouth on December 14, 2011 at 11:14 AM

I just hope the only investors hurt were the libs that invested with him. The guy is a total crook, very deserving of jail time, except he is a leftist. What a quandary, if in fact the majority of investors were libs. Either way I’m sure Soro’s does well.

Bmore on December 14, 2011 at 11:15 AM

The media is corrupt.

GardenGnome on December 14, 2011 at 11:15 AM

They will never connect him to dear leader

Gotta make him look good, doncha know

cmsinaz on December 14, 2011 at 11:16 AM

had borrowed money from customer accounts.

There is another name for removing money from a customer account without their permission. Give you three guess’s. First two don’t count.

dhugh on December 14, 2011 at 11:16 AM

Corzine absolutely knows how the money disappeared. Re-hypothecation is the fundamental reason. This happens when the collateral posted by a prime brokerage to its prime broker is also used as collateral by the prime broker for its own purposes. Re-hypothecation rules are much stricter in the US than in England. If the money was moved to a british financial institutional it’s gone. Many of his customers thought their money was safe and were unaware of their liability because Corzine and his cronies wanted it that way, hoping customers wouldn’t read all the fine print. It is the legalized theft that is part of the entire financial system, even here with the Fed and too big to fail. And its both parties as legal insider trading for Congress illustrates.

Falcon46 on December 14, 2011 at 11:16 AM

I find this whole saga stunning. That he actually believed he could talk his way out of this is a demonstration of profound hubris.

flyfisher on December 14, 2011 at 11:11 AM

Despite what he’s done, he IS going to walk. High-tier democrats are generally immune from prosecution for crimes. The only reason he’s testifying is because what he did was so bad, so damaging, and so illegal that even the media is having a hard time containing it.

And remember, this guy was rumored to be on the short list for replacements for Geithner.

Doomberg on December 14, 2011 at 11:17 AM

I would call as my next witness the female MF exec who actualle heard Bernie Madoff’s next room mate say “send back 175.”

BigAlSouth on December 14, 2011 at 11:17 AM

Probably the same thing will happen as it has with every other scandal involving this administration. See how Blagojevich and Resko went to prison and none of the stench from those events transferred to Obama? Was he even asked about these guys going to jail and what he thought about it? You barely see any references to Obama in any of the stories about these characters whom Obama had very close ties to. You know the narrative from the MSM would have been very different if people who went to jail had close, personal ties to Bush. It just gets so tiresome.

Corzine and the failure of MF Global is just another example of the kind of thing that should sink the Democrats because it ties in so nicely with all that is wrong with the economy these days but it won”t be treated by the MSM with the kind of coverage it deserves. When Eric Holder and Jon Corzine testified last week before Congress, neither story made the front page of the so-called “Newspaper of Record” – the New York Times. It is so predictable. That is why Jonathan Alter can say that the Obama Administration has been “scandal-free” because if all you did was watch MSNBC and CNN, listen to NPR or read the Washington Post, New York Times or Newsweek that is exactly what you would think.

Santnick on December 14, 2011 at 11:18 AM

Occupy Corzine! Ewwwww.

2Tru2Tru on December 14, 2011 at 11:18 AM

I love it!
Does this mean that a corrupt, lying Democrat will finally be prosecuted for malfeasance and perjury? Naaaaaaaaaaa He’s got too much money and too many pals up to and including ChicagØbama.
The prosecution had better hurry though. Corzine may need a pardon come January 2013 and time is running out:
http://obamaclock.org/

~(Ä)~

Karl Magnus on December 14, 2011 at 11:18 AM

He didn’t know those were customer funds. He thought he was bundling for Obama 2012.

tdarrington on December 14, 2011 at 11:18 AM

Two of the three broadcast networks have avoided even mentioning that the former New Jersey governor and US Senator is a Democrat

I would say that the lefties are preparing for the worst and ready to throw him to the wolves…

goflyers on December 14, 2011 at 11:18 AM

This will be a perp-walk for the ages, one to enjoy over and over again on Youtube.

slickwillie2001 on December 14, 2011 at 11:19 AM

At this point, Corzine has his choice of three explanations:

1. He is a criminal.

2. He is criminally stupid.

3. He is criminally negligent.

…and it appears that there is sufficient evidence to convict him of ALL THREE!!

landlines on December 14, 2011 at 11:19 AM

Looks like it’s time to freeze all his assets until the money shows up. You know, just to be safe.

CO Infidel on December 14, 2011 at 11:20 AM

Aw, c’mon. All this focus on Corzine?

Haven’t you ever lost anything?

Your wallet?

Your car keys?

The odd $1 billion or so?

So judgmental. But, I guess… HATERS GONNA HATE.

Hayabusa on December 14, 2011 at 11:20 AM

I find this whole saga stunning. That he actually believed he could talk his way out of this is a demonstration of profound hubris.

flyfisher on December 14, 2011 at 11:11 AM

Um, they’re Dems….remember????

search4truth on December 14, 2011 at 11:12 AM

If he believes his Democrap buddies can save him on this, he’s sorely mistaken. The people who lost money don’t care about his party affiliation, and neither will a jury.

flyfisher on December 14, 2011 at 11:21 AM

rbj on December 14, 2011 at 11:09 AM

BigAlSouth on December 14, 2011 at 11:14 AM

According to yesterday’s testimony, the auditors and investigators were at MF Global when the call happened, likely on speaker. Once corroborated with documents and records, it won’t be heresay.

trhediger on December 14, 2011 at 11:21 AM

Tell me again how Dodd-Frank’s multi thousand pages of regulations are protecting us?

Bernfp on December 14, 2011 at 11:22 AM

Gee, he sounds just like Holder. Runs an organization but has no idea what’s going on within it. That excuse has worked for him so far, why not borrow it?

scalleywag on December 14, 2011 at 11:23 AM

I sure could use an extra million or so…anyone know where I can pick up a D card so no one will care when I steal it?

airmonkey on December 14, 2011 at 11:23 AM

Of course he knew. I’ll bet even DWS thinks he knew.

rjoco1 on December 14, 2011 at 11:23 AM

The ‘fix’ is in people don’tcha know…

NO Dem will ever face the fire, they skate, always have always will.

As for the LSM pfffffffffft, they will cover it up…it’s a no-win situation…

Scrumpy on December 14, 2011 at 11:24 AM

Here is the problem, Corzine wil be prosecuted, and the dems and Republicans will all dance around saying that they have taken care and prosecuted people involved in illegal acts…meanwhile, no one from the bail out, no one from Fannie Mae, Freddie Mac, and all the other scandals and scams will be touched…Corzine will be the sacrificial lamb.

right2bright on December 14, 2011 at 11:26 AM

Thank You!

timgibbonz on December 14, 2011 at 11:26 AM

At the risk of sounding really ignorant, does anyone know why its the Senate Committee on Agriculture, Nutrition and Forestry that is holding these hearings?

Mahna Mahna on December 14, 2011 at 11:26 AM

I seem to recall the media getting into a lather over Ken Lay’s much less concrete connections to George W. Bush after Enron’s collapse.

Enron was the #1 contributor to Bush in 2000. Ken Lay personally gave 300K to W. Your point was Ken Lay was not connected to W? I don’t get your point…

http://www.snopes.com/politics/clintons/enron.asp

ZippyZ on December 14, 2011 at 11:27 AM

It’s still early and I have to go to work.

Nevertheless, I eagerly await to learn how Democrats will blame this on George Bush.

mrmiji on December 14, 2011 at 11:27 AM

trhediger on December 14, 2011 at 11:21 AM

Yeah, but put the exec on. It would make for great theater.

BigAlSouth on December 14, 2011 at 11:27 AM

When he was governor of NJ he stole taxpayer money. New governor Chris Christy did not & was not told about they millions of missing dollars until after he was in office. Nothing was said during the transition period of all changing of the guard. How about that? ,and never a day in jail was served. Why are there different laws for political thieves? A private citizen would be put in handcuffs PRONTO!

sbiam on December 14, 2011 at 11:28 AM

Misleading congressional testimony +
Auditors on-site during malfeasance +
Altered reports and documents given to regulators = Damaging evidence.

Will DOJ prosecute Corzine, the COO, and CFO? Eh…

trhediger on December 14, 2011 at 11:28 AM

A lying, crooked Democrat…that almost never happens! /sarc

cicerone on December 14, 2011 at 11:28 AM

“Possibly” “Allegedly”

The WaPo sure tiptoes around this (crooked Democrat) story.

PattyJ on December 14, 2011 at 11:29 AM

I would say that the lefties are preparing for the worst and ready to throw him to the wolves…

goflyers on December 14, 2011 at 11:18 AM

Yep. He’s going to fall on his sword. That much money simply doesn’t disappear. It was used to keep someone (or something) whole. That’s the question here. Just a guess — it has to do with the Eurozone.

Mr. D on December 14, 2011 at 11:29 AM

At the risk of sounding really ignorant, does anyone know why its the Senate Committee on Agriculture, Nutrition and Forestry that is holding these hearings?

Mahna Mahna on December 14, 2011 at 11:26 AM

MF Global was into commodities trading. The Ag committee has jurisdiction over commodities (shared with other committees I’m sure.)

rbj on December 14, 2011 at 11:29 AM

So a Democrat lied under oath?

I’m shoc…ah hell, you know where I was going.

Flora Duh on December 14, 2011 at 11:29 AM

BigAlSouth on December 14, 2011 at 11:27 AM

It was good yesterday!

trhediger on December 14, 2011 at 11:30 AM

Flashback:
Obama Enthusiastically Endorses Corzone

stackedeck on December 14, 2011 at 11:30 AM

So we’re surprised? After 30 years of following politics and finance I’m of the opinion any more that our heads of state and finance are either inept or corrupt or both. Corzine strikes me as one who is both. I can’t think but that this is just the tip of the iceberg.

RAN58 on December 14, 2011 at 11:31 AM

Corzine , not mentioned by the Lamestream press as being a Democrat ? Who whuda thunk ?

volunteerstate on December 14, 2011 at 11:31 AM

Here is the problem, Corzine wil be prosecuted, and the dems and Republicans will all dance around saying that they have taken care and prosecuted people involved in illegal acts…meanwhile, no one from the bail out, no one from Fannie Mae, Freddie Mac, and all the other scandals and scams will be touched…Corzine will be the sacrificial lamb.

right2bright on December 14, 2011 at 11:26 AM

Where is Martha Stewart when you need her?

ZippyZ on December 14, 2011 at 11:31 AM

Corzine uses the Sgt. Schultz defense.

portlandon on December 14, 2011 at 11:32 AM

Everybody lies about sex,and steroids,and money. What’s the problem.

gohogs on December 14, 2011 at 11:35 AM

Even the Casey Anthony jury thinks he is Guilty

rjoco1 on December 14, 2011 at 11:36 AM

This will all blow over soon, and Corzine will just receive a sternly-worded letter or something. Lying is a state of mind, dontcha know? Theft is just mistakes. Corzine walks.

Harbingeing on December 14, 2011 at 11:36 AM

Customer money flew
and Corzine knew!

-Turk182

EnderWiggins on December 14, 2011 at 11:37 AM

Who cares. It’s just a distraction from the real crisis which is the race for government depoendency for all.

With Uncle Sam positioned to be the baby daddy for millions of “double dip” dependents, which are young girls that are dependents themselves getting pregnant because they are confident that Uncle Sam will pay the bills. Why should they take respnsibility for their actions? Medicade will take care of the doctors, food stamps and WIC will buy the grocries, subsaidised rent will cover the apartment.

They don’t even think twice about having sex anymore becaus they have a free ride to get out of their rich parents house and do their own thing without earning anything.

The attack on self reliance and personal responsibility is disgusting at best and criminal at worst. You would think a decent person would position themselves as independent first before getting pregnant and condeming the kid to a restricted future. But no, the liberals just don’t understand the basic damage that incentives for irresponsibility result in.

saiga on December 14, 2011 at 11:37 AM

Even the Casey Anthony jury thinks he is Guilty

rjoco1 on December 14, 2011 at 11:36 AM

Nice!

cicerone on December 14, 2011 at 11:39 AM

Obama says he needs $1.0 billion to finance his re-election campaign. MF Global, run by his primary Wall Street bundler comes up missing $1.2 billion. Coincidence? I figure the $0.2 billion discrepancy went to “grease the skids” and keep people mum. And I’ll bet you dollars to doughnuts that Corzine doesn’t pull any time.

Elric on December 14, 2011 at 11:11 AM

Well you know, with Quantitive Easing and all, pardons are a little spendy these days. Michelle is working on her Post Years of Living It Up On the Taxpayer Dime Travel Fund.

Lily on December 14, 2011 at 11:39 AM

EnderWiggins on December 14, 2011 at 11:37 AM

Yo Ender!

Love the nic :)

Lily on December 14, 2011 at 11:41 AM

saiga on December 14, 2011 at 11:37 AM

Sorry, this is big news. The only difference between this and the Eurocrisis is size.

trhediger on December 14, 2011 at 11:42 AM

There is another name for removing money from a customer account without their permission. Give you three guess’s. First two don’t count.

dhugh on December 14, 2011 at 11:16 AM

Social Security Trust Fund

/sarc

MTLassen on December 14, 2011 at 11:43 AM

No way Corzine didn’t have a clue! If he didn’t, then he didn’t have appropriate controls in place. He’s playing us for fools with his denials of knowledge. The customer funds should have been treated as sacrosanct and the top man should know that such funds are where they belong: in secure, segregated, accounts!

Howguy on December 14, 2011 at 11:47 AM

So a Democrat lied under oath?

I’m shoc…ah hell, you know where I was going.

Flora Duh on December 14, 2011 at 11:29 AM

I’m guessin’ it is not just me thinkin’ this, but has every single Dem (with links to Barry) who recently testified before Congress perjured themselves?….Say it ain’t so!!!!!

Unfortunately, I’m beginning to doubt that any indictments will ever be issued.

Calamity Jane on December 14, 2011 at 11:47 AM

Yep. He’s going to fall on his sword. That much money simply doesn’t disappear. It was used to keep someone (or something) whole. That’s the question here. Just a guess — it has to do with the Eurozone.Mr. D on December 14, 2011 at 11:29 AM

Ah! Makes the most sense. Globalization is a wonderful thing. Sadly, this brings up the question of administration awareness that some unorthodox “foreign aid” was on the way to the Brussels ringmasters.

a capella on December 14, 2011 at 11:49 AM

I seem to recall the media getting into a lather over Ken Lay’s much less concrete connections to George W. Bush after Enron’s collapse.

Enron was the #1 contributor to Bush in 2000. Ken Lay personally gave 300K to W. Your point was Ken Lay was not connected to W? I don’t get your point…

http://www.snopes.com/politics/clintons/enron.asp

ZippyZ on December 14, 2011 at 11:27 AM

And yet Bush let the Feds try and convict Lay, and never gave him any special treatment. That was the point Ed was making, which has absolutely nothing to do with how much Lay gave Bush over the years.

And your link to the Leftist, Democrat-Friendly Snopes site is misleading; that “$300,000″ in 2000 didn’t all come from Lay personally, and $200,000 of that $300,000 was after Bush stole the election-it was to help fund the Inaugural activities.

Speaking of Inaugural activities, who funded most of O’bama’s Immaculation in 2009?

Wall Street.

And if you go to OpenSecrets.org and do some research, you’ll find that many employees, including a Senior Vice President, of a certain evil company all gave hefty donations to O’bama in 2008.

That would be Halliburton.

Del Dolemonte on December 14, 2011 at 11:50 AM

A Democrat lies. . . . Why am I not surprised?

WannabeAnglican on December 14, 2011 at 11:51 AM

As long as Holder is AG Corzine has nothing to worry about.

tommyboy on December 14, 2011 at 11:54 AM

A Democrat lies. . . . Why am I not surprised?

WannabeAnglican on December 14, 2011 at 11:51 AM

Because they always do. ALWAYS!

VegasRick on December 14, 2011 at 11:54 AM

One lesson here is for congressmen who leave government work for the private sector: private industry doesn’t play by the same fast and loose rules you’re used to.

The same fiscal shenanigans which worked in congress will get you in jail in the business world.

shinty on December 14, 2011 at 11:56 AM

Corzine probably thought he could pay it back before anyone found out. Typical of an embezzler when they first steal other people’s money. The more they steal, the easier it gets. Wouldn’t hold my breath for any ‘years’ he should get but won’t.

Kissmygrits on December 14, 2011 at 11:56 AM

There has to be something raaaaacist about this. Has to be.

RushBaby on December 14, 2011 at 11:57 AM

Corzine, like the MSM, has made a living out of selective amnesia.

GarandFan on December 14, 2011 at 11:58 AM

I’m guessin’ it is not just me thinkin’ this, but has every single Dem (with links to Barry) who recently testified before Congress perjured themselves?….Say it ain’t so!!!!!

Unfortunately, I’m beginning to doubt that any indictments will ever be issued.

Calamity Jane on December 14, 2011 at 11:47 AM

It is a litmus test for everyone who has ever worked for Obama, been a friend of Obama, or passed Obama in the hall.

Flora Duh on December 14, 2011 at 11:58 AM

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