Can states go after Corzine if Obama administration won’t?

posted at 1:21 pm on August 23, 2012 by Ed Morrissey

Has Jon Corzine escaped justice after MF Global fleeced customers of more than a billion dollars?  On CNBC, Rick Santelli and James Koutoulas say … maybe not.  If the Obama administration’s Department of Justice won’t prosecute Corzine, who not coincidentally is a big Obama bundler and a former Democratic Governor and Senator from New Jersey, then maybe states where Corzine’s former customers live might be interested in theft on the grandest scale imaginable (via News Alert):

I’m not sure whether this will work or not. If the thefts occur within the federally-regulated trading system, state AGs might not have jurisdiction. On the other hand, New York state AGs have a long history of crackdowns on fraud within the investment community, and it will be difficult to argue that a customer robbed of his retirement money in Arizona or Florida has no recourse to bring Corzine to justice while the DoJ sits on its hands.

If an ambitious state AG or two does pick up the case, it will be an embarrassment to Obama and Eric Holder if they manage to gain legal traction against Corzine. It will make it appear even more clear that the White House wanted to keep Corzine out of court. By that time, however, the embarrassment may just be a historical footnote if Obama fails in his re-election bid.


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nothing to see here….

over at RCP Chuck Todd the prison receptacle, is blaming Romney for the media Akin-o-palooza….

pretty funny the press is not bothered by Corzine being let off the hook eh?

harlekwin15 on August 23, 2012 at 1:23 PM

…Holder and the DOJ would sue them!

KOOLAID2 on August 23, 2012 at 1:24 PM

New York state AGs have a long history of crackdowns on fraud within the investment community, and it will be difficult to argue that a customer robbed of his retirement money in Arizona or Florida has no recourse to bring Corzine to justice while the DoJ sits on its hands.

Yeah, what was his name, again? hmmmm

MeatHeadinCA on August 23, 2012 at 1:25 PM

…over a billion dollars “D I S A P P E A R S”…and the institutional media has no questions!

KOOLAID2 on August 23, 2012 at 1:25 PM

…Holder and the DOJ would sue them!

KOOLAID2 on August 23, 2012 at 1:24 PM

Which only adds to the wonderful optics team Barry has been putting out.

MeatHeadinCA on August 23, 2012 at 1:25 PM

The sleaze cannot escape civil lawsuits!!

bayview on August 23, 2012 at 1:26 PM

The fact that Obama isn’t doing anything about this suggests he hates retirees.

MeatHeadinCA on August 23, 2012 at 1:26 PM

Can states go after Corzine if Obama administration won’t?

Do they need or want the money?

There is your answer.

PappyD61 on August 23, 2012 at 1:26 PM

Has Jon Corzine Obama escaped justice after fleecing customers of more than a billion 6 trillion dollars?

faraway on August 23, 2012 at 1:27 PM

nothing to see here….

over at RCP Chuck Todd the prison receptacle, is blaming Romney for the media Akin-o-palooza….

pretty funny the press is not bothered by Corzine being let off the hook eh?

harlekwin15 on August 23, 2012 at 1:23 PM

It’s not on the media’s talking points paper they receive daily from the White House. The media would be left saying “Who’s Jon Corzine?”

Bitter Clinger on August 23, 2012 at 1:27 PM

Chuck Todd

one of the chief Obama Supporters/apologists in the Traitorous Pre-Internet media.

PappyD61 on August 23, 2012 at 1:28 PM

Sounds like another fun project for my AG Greg Abbott. He loves embarrassing the White House.

juliesa on August 23, 2012 at 1:28 PM

Video: VP Biden says he called Jon Corzine for advice

albill on August 23, 2012 at 1:28 PM

…over a billion dollars “D I S A P P E A R S”…and the institutional media has no questions!

KOOLAID2 on August 23, 2012 at 1:25 PM

Come on , could happen to anyone , nobody’s perfect.

the_nile on August 23, 2012 at 1:28 PM

What about a new AG in a Romney administration? Could he or she go after Corzine?

Doughboy on August 23, 2012 at 1:30 PM

Can states go after Corzine if Obama administration won’t?

No, it’s against the law to prosecute a democrat for corruption.

Obama, the man really pushing Grandma off a cliff.

SWalker on August 23, 2012 at 1:31 PM

There is no question that the relevant state attorneys general have jurisdiction over this matter. In fact, Client #9 made his name in cases like this when he was NYAG.

Selkirk on August 23, 2012 at 1:31 PM

I don’t see any problem for Obama. Even if a state AG takes the case, there’s no way it would get very far before the election, and the MSM won’t touch it. After the election, either Obama is out or if (heaven help us) he wins, he pardons Corzine preemptively a la Ford in 1974. With a corrupt AG and compliant media, the only remedy is the election. It’s do or die in November.

jwolf on August 23, 2012 at 1:32 PM

It’s not on the media’s talking points paper they receive daily from the White House. The media would be left saying “Who’s Jon Corzine?”

Bitter Clinger on August 23, 2012 at 1:27 PM

My favorite is when Todd acts as though Romney is forcing him to go Akin-pa-looza and keeping him from gee “reporting the 2000th US servicemember to fall in Afghanistan”…..

Yes Chuck I am certain that you’ve just been forgetting en mass for 4 years….

harlekwin15 on August 23, 2012 at 1:32 PM

Does anyone know the statute of limitations for stealling a Billion dollars…?

Seven Percent Solution on August 23, 2012 at 1:32 PM

OT: Cartoon captures legacy media hard at work…

d1carter on August 23, 2012 at 1:33 PM

Paging Ken Cuccinelli!

BuzzCrutcher on August 23, 2012 at 1:33 PM

Let’s hope some of Corzine’s victims are in Texas. Greg Abbott loves this sort of thing.

Odysseus on August 23, 2012 at 1:35 PM

What about a new AG in a Romney administration? Could he or she go after Corzine?

Doughboy on August 23, 2012 at 1:30 PM

Win or lose, Obama will pardon Corzine — after the election. Bank on it.

jwolf on August 23, 2012 at 1:38 PM

Video: VP Biden says he called Jon Corzine for advice

albill on August 23, 2012 at 1:28 PM

WOW!!!!!!

I can’t wait for Romney to start buying ads.

faraway on August 23, 2012 at 1:38 PM

Biden: “We trusted his judgment”

faraway on August 23, 2012 at 1:39 PM

Biden: “Jon was right. Jon was right.” Then the audience begins chanting it.

WWWWWOOOOOOWWWWWWWWWWWWWWWWWWIIIIIIIEEEEEEEEEEEEEEEEEEE

faraway on August 23, 2012 at 1:41 PM

What is the statute of limitations on this? Could a Romney DoJ bring charge?

davidk on August 23, 2012 at 1:43 PM

Oops.

What about a new AG in a Romney administration? Could he or she go after Corzine?

Doughboy on August 23, 2012 at 1:30 PM

Win or lose, Obama will pardon Corzine — after the election. Bank on it.

jwolf on August 23, 2012 at 1:38 PM

davidk on August 23, 2012 at 1:44 PM

Patience. It’s only four months to a new AG and a real investigation. Until then there’s no reason to give Obama the ability to give hand out get out of jail free cards.

Dusty on August 23, 2012 at 1:44 PM

The fact that Obama isn’t doing anything about this suggests he hates retirees.

MeatHeadinCA on August 23, 2012 at 1:26 PM

Since the passage of Obamacare they’re no longer considered a voting block for team “O”.

antipc on August 23, 2012 at 1:49 PM

Ahhh, come on, stealing a billion dollars is only interesting to us partisan hacks. The MSM is far more interested in…squirrel!.

MTF on August 23, 2012 at 1:50 PM

For those who never saw the movie “Up!”(must not have small kids) and don’t get the squirrel reference, here you go.

MTF on August 23, 2012 at 1:55 PM

Actually, the term used at the time was “vaporized”. The money didn’t go anywhere, it simply ceased to exist.

/

wolfsDad on August 23, 2012 at 1:58 PM

This page auto-refresh is for the birds. One can’t even watch a three minutes video in peace here anymore.

paul1149 on August 23, 2012 at 1:58 PM

The fact that Obama isn’t doing anything about this suggests he hates retirees.

MeatHeadinCA on August 23, 2012 at 1:26 PM

And farmers. I believe the initial reports mentioned a whole lot of agricultural co-ops were the big losers and it has the potential to severely impact food costs as a result. If only we had some reporters that would…oh wait, that’s another thread.

If I were the suspicious type I’d wonder if there was a nexis between wiping out farmer’s accounts and allowing their fields to flood like happened last year when snow melt was held back until the spring rains hit. Heard of any major land sales in the mid-west?

DanMan on August 23, 2012 at 1:58 PM

By that time, however, the embarrassment may just be a historical footnote if when Obama fails in his re-election bid.

ftfy

ted c on August 23, 2012 at 1:59 PM

Of course they can still charge him but you need to have very specific evidence to bring the charge and, as I have said before on this subject, prove that Corzine or other principle, INTENDED to break those specific laws. The two trustee reports haven;t turned over anything. As with many of these cases the only criminal charge you are likely to see emerge from this is perjury.

It’s frustrating… it does not do real justice but if you want to charge Corzine and other white collar criminals in complicated matters like this you have to change the law and the specific absurd burdens it imposes. Campaign on that.

lexhamfox on August 23, 2012 at 1:59 PM

Regardless of whether Obama fails in his re-election bid, Corzine should certainly be brought to justice over that billion dollar swindle and his claim that he has no idea where that money went. If he’s guilty, and I’m betting that he is, he’s no better than Bernie Madoff and he deserves the same punishment. If it is proven at some point later that Corzine is guilty and that he intentionally stole that money, then Obama and Holder should be held liable for failing to prosecute him.

I’m interested to see the list of pardons Obama rolls out once he realizes that he’s lost his re-election bid.

thatsafactjack on August 23, 2012 at 2:01 PM

Obama, the man really pushing Grandma all of us off a cliff.

SWalker on August 23, 2012 at 1:31 PM

FIFY.

RedNewEnglander on August 23, 2012 at 2:04 PM

It’s a lose-lose for the Holder DoJ. He can let them run, and be shown up as in the tank for Democrat crooks who are also fund raisers.

Or he can go to court and fight, making it a huge story.

Greg Q on August 23, 2012 at 2:04 PM

lexhamfox on August 23, 2012 at 1:59 PM

Further to my earlier comment I would urge anyone interested to read the trustee reports and you can see how accounting loopholes also allow this kind of disaster to occur. The trustee reports are pretty thorough and a fascinating insight into what transpired at MF.

lexhamfox on August 23, 2012 at 2:06 PM

Someone ask Andrea Mitchell and Candy Crowley if they would like to cover a story of high finance crime against hardworking retirees involving a billionaire financier who was a Republican US Senator and Governor and is today a vital rainmaker/close political ally/friend of a sitting Republican President???

Get Martha Raddatz, Jim Lehrer and Bob Shieffer on the phone too and ask if thats a story any of them might be interested in covering. Call Brian Williams Matt Lauer and George Steph while you re at it.

The phone goes straight to voicemail nowadays due to no one working there anymore, but try to reach the NYT-LAT-WAPO and ask the same question.

Leave a message when you hear the beep.

Sacramento on August 23, 2012 at 2:06 PM

What is the statute of limitations on this? Could a Romney DoJ bring charge?

davidk on August 23, 2012 at 1:43 PM

Tolling of the SOL might apply here if the DOJ was covering this up.

blammm on August 23, 2012 at 2:10 PM

Win or lose, Obama will pardon Corzine — after the election. Bank on it.

jwolf on August 23, 2012 at 1:38 PM

D’ohbama’s ‘pardon’ only applies to federal crimes. The individual states’ attorneys general can still prosecute Corzine.
And I’d bet that Corzine would rather do time in a federal “country club” prison than in the Texas State Pen.

Solaratov on August 23, 2012 at 2:10 PM

[Dusty on August 23, 2012 at 1:44 PM]

Let me qualify that. The jurisdiction of presidential pardoning power is limited to federal law. The president cannot pardon a person of state crimes.

On the other hand, New York state AGs have a long history of crackdowns on fraud within the investment community, and it will be difficult to argue that a customer robbed of his retirement money in Arizona or Florida has no recourse to bring Corzine to justice while the DoJ sits on its hands.

New York has this history because the crimes were committed in NYS. I don’t know how a FL AG or AZ AG could bring indictments unless there was an explicit activity on the part of MF Global in that state. There might be — the business has a presence in the state; transactions deemed to have originated in the state; or something of a like legal framework — but that stuff is way above my personal opinion pay grade.

Dusty on August 23, 2012 at 2:11 PM

If anyone can pull it, that would be Chris Christie. How convenient of him was to fire the Black Democrat lady he hoisted upon himself in the spirit of “bipartisanship”, and replace her with his own adviser. Jeffrey S. Chiesa, that’s your golden chance to enter the national scene!

Archivarix on August 23, 2012 at 2:11 PM

“A billion here, a billion there, pretty soon, you’re talking real money.”

ImageSniper on August 23, 2012 at 2:11 PM

There must be something in the air because yesterday I was wondering if we were going to see the first blanket immunity from prosecution that Obama would try to extend to Corzine over this when he loses in November.

DanMan on August 23, 2012 at 2:20 PM

And I’d bet that Corzine would rather do time in a federal “country club” prison than in the Texas State Pen.

Solaratov on August 23, 2012 at 2:10 PM

you ain’t lyin’! we don’t a/c our prisons if current efforts to do so that are getting zero traction are to be believed

DanMan on August 23, 2012 at 2:23 PM

Did they use mail or the FFC controlled media to sell their fraudulent investments? Case closed? Who owns the judge?

Don L on August 23, 2012 at 2:38 PM

By that time, however, the embarrassment may just be a historical footnote if WHEN Obama fails in his re-election bid.

Sorry but we need to approach this election as if Mitt Romney is going to be very busy starting January 20th. It may be premature to set up the “Office of the President Elect” now but let’s stay positive about what the outcome of November 6th is going to be.

Happy Nomad on August 23, 2012 at 2:42 PM

Hey! Jon “paid” for protection! He got “protection”!

GarandFan on August 23, 2012 at 2:46 PM

If the MSM doesn’t want to pick up this story, why doesn’t Romney or Ryan make it a talking point?

This administration was supposed to be the most transparent, free from crony capitalism.

Pazman on August 23, 2012 at 2:55 PM

Ditto ATFE agents that broke the law running guns to Mexico that worked out of the border states.

slickwillie2001 on August 23, 2012 at 4:16 PM

Can states go after Corzine if Obama administration won’t?

I certainly hope several States choose to do it. That would be a worthy use of my tax money. More worthy that 50% of State expenditures.

jaime on August 23, 2012 at 4:43 PM

Lots of Iowa farmers lost money with Corzine; maybe the Iowa AG can go after him before the election, highlighting more of the Obama crony corruption.

mathgal60 on August 23, 2012 at 4:44 PM

I have a good source that told me New Jersey’s AG is looking into possible state action, but probably not before the election.

rockmom on August 23, 2012 at 5:45 PM