Really! Jon Corzine, a Former Goldman Sachs Guy, is Being Charged?

Readers have seen just how little justice is being meted out for fraud at financial institutions in the U.S. since 2008.  Jon Corzine is being highlighted again for charges over the collapse of MF Global.  We feel pretty certain that if anything comes of these actions, Corzine will do what all the plutocratic elite do--pay the fine, do not admit any wrongdoing and carry on!

U.S. Civil Charges Against Corzine Are Seen as Near
By Ben Protess - DealBook (The New York Times)
 
Federal regulators are poised to sue Jon S. Corzine over the collapse of MF Global and the brokerage firm’s misuse of customer money during its final days, a blowup that rattled Wall Street and cast a spotlight on Mr. Corzine, the former New Jersey governor who ran the firm until its bankruptcy in 2011.

The Commodity Futures Trading Commission, the federal agency that regulated MF Global, plans to approve the lawsuit as soon as this week, according to law enforcement officials with knowledge of the case. In a rare move against a Wall Street executive, the agency has informed Mr. Corzine’s lawyers that it aims to file the civil case without offering him the opportunity to settle, setting up a legal battle that could drag on for years.

Without directly linking Mr. Corzine to the disappearance of more than $1 billion in customer money, the trading commission will probably blame the chief executive for failing to prevent the breach at a lower rung of the firm, the law enforcement officials said. If found liable, he could face millions of dollars in fines and possibly a ban from trading commodities, jeopardizing his future on Wall Street.

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