Obama Financial Advisor Jon Corzine

[onmyknees]

Just so you don't think I embellished the status of Mr. Corzine with respect to the Obama Administration and economic matters, let's let old Joe say it like only he can on YouTube. If it didn't have such disastrous results, this would almost be tragically, ironically funny.....almost.

And you wonder why the economy is where it is three years later? How could it not with the likes of Mr. Corzine with his fingers in the pie? How long until even you lefties come to terms with the fact this guy is not equipped to handle the economy? And how long until the OWS crowd march on Corzine's mansion??? LOL



http://www.youtube.com/watch?feature...&v=xm3VMrKqJSA

• Jon Corzine: Too Big to Jail?

• 
  
  
  Posted by Gerri Willis | November 07, 2011
  
  
  The head of the Securities and Exchange Commission - Mary Schapiro - told Fox Business today that the collapse of MF Global is not a failure of regulation - just a failure of a firm making stupid decisions.
  Investors in MF Global - the bankrupt trading firm run by Jon Corzine are still trying to get their money back! Nearly $600 million is still missing. So, how did MF Global become the eighth biggest bankruptcy in American history?
  You only have to look at Corzine's connections to the business and political world for some clues: Corzine is the personification of the "Revolving Door" - going from Wall Street to politics and back again - a career spanning four decades. He first made his fortune as one of the so-called "Masters of the Universe" at Goldman Sachs. That is until he eventually was pushed out in 1999.
  He then used about a quarter of his fortune - an estimated $100 million - smashing all sorts of spending records - to run as a liberal democrat - eventually winning a Senate seat - he then became a governor of New Jersey. Voters eventually fired him too - after he nearly wrecked the state. He left Trenton and became the CEO of MF Global.
  Corzine very quickly tried to make the company into a mini-Goldman Sachs. He lobbied the New York Fed to make MF Global one of the handful of banks authorized as primary dealers of U.S. treasury bonds. Corzine got his wish: The man who helped him get it was the New York Fed's president and CEO - William Dudley - a partner at Goldman until 2007.
  After MF Global collapsed, many including us here at the Willis Report are asking: Where are the regulators?! The chief regulator is Gary Gensler - he heads the CFTC - which is investigating this whole mess. Gensler, who just today announced he's recusing himself from this case, has long and deep ties to Corzine. When Corzine was running for governor, Gensler chipped in $10,000 to the state Democratic party - to help get Corzine elected.
  Gensler also worked with Corzine on Capitol Hill - crafting rules and regulations for Wall Street. Corzine also worked along-side former Treasury Secretary Henry Paulson at Goldman Sachs, Paulson was the one who pushed for the massive bailout of Wall Street and the taxpayer rescue of Fannie Mae and Freddie Mac. Speaking of Fannie and Freddie - there's James Johnson. He joined Goldman Sachs the same year Corzine led the company.
  Johnson was a top executive at Fannie Mae in the 1990s - and walked away with tens of millions of dollars in compensation - while at the same time driving the housing market off a cliff.
  Nice work if you can get it.
  Corzine has also been part of the ‘Bilderberg Group' a who's who of the rich and powerful international elite - including some boldface American names: Ben Bernanke, Timothy Geithner and Bill Clinton just to name a few. These guys get together every few years to solve the world's problems over cavier and chardonnay.
  But it's not just former presidents Corzine rubs shoulders with - despite President Obama decrying ‘Wall Street Fat Cats' - Corzine has already helped to raise at least half-million dollars for President Obama's re-election.
  And Obama's current EPA commissioner - Lisa Jackson - was also in the Corzine cabinent when he was governor of New Jersey. Corzine's No. 2 at MF Global, Bradley Abelow, worked for the Obama administration, was also in Corzine's New Jersey cabinet and was a top executive at Goldman Sachs!
  As for that half-million? The Obama campaign says it will give the money back - if Corzine is convicted of a crime. But if history is our guide -the kind of Wall Street firms Corzine once ran became ‘Too Big to Fail.'
  Maybe Corzine himself will be too ‘Big to Jail.

[Stavros]

Corzine has also been part of the ‘Bilderberg Group' a who's who of the rich and powerful international elite - including some boldface American names: Ben Bernanke, Timothy Geithner and Bill Clinton just to name a few. These guys get together every few years to solve the world's problems over cavier and chardonnay.

As indeed is Mario Monti...so, onmyknees, have you sat in with the OWS guys and gals to concur on Signor Cortizine?

http://www.reuters.com/article/2011/...7MD0DO20111113

[onmyknees]

No...I actually pity them...they're so fatally mislead. I've passed the park several times and jump into my scrubs including a medical mask. I'm afraid of catching TB, but I do recognize the odor. It smells like one of the European soccer matches with 100,000 fans and 3 porta potties.
The first step in their recovery is to come to terms with the fact Obama has received more Wall St. money than any politician in history. Once they understand that, we can move onto other things like MF Global and Jon Corzine, but it's a slow process !!!!!!!

[Ben]

Just so you don't think I embellished the status of Mr. Corzine with respect to the Obama Administration and economic matters, let's let old Joe say it like only he can on YouTube. If it didn't have such disastrous results, this would almost be tragically, ironically funny.....almost.

And you wonder why the economy is where it is three years later? How could it not with the likes of Mr. Corzine with his fingers in the pie? How long until even you lefties come to terms with the fact this guy is not equipped to handle the economy? And how long until the OWS crowd march on Corzine's mansion??? LOL

Jon Corzine. Former Head of Goldman (or Government) Sachs. That says it all. (And remember old Hank Paulson. Former head honcho of Goldman Sachs. He left his $30 million a year salary to do "public" service in the Bush administration. It makes sense -- ha ha!)
Anyway, they should simply rename the Democratic Party the Plutocratic Party. It's disgusting.
This is why people are fed up and furious with government. They believe, and I think most Americans are correct, that it's been usurped by the corporate sector. (When Steve Jobs died not many people begrudged him for making billions of dollars. People felt he earned it. He worked hard. So he earned it.
But what has changed now is this sleazy/corrupt system [or corporatism: which is a very close and cozy relationship between big business and government) whereby vast corruption imbues government. It's sleazy, it's disturbing.
And remember the large corporate sector do not believe in free markets. They want a powerful Nanny State to bail them out when the shit hits the fan, so to speak --
Again, Americans do not begrudge Steve Jobs. But they don't like the banking system taking over our supposedly democratic government. For their own interests.
I mean, look at the difference between Steve Jobs and the corrupt bankers and other corporate executives.
To quote an article by the economist Dean Baker about Jobs: "Apple made personal computers a standard household product by developing a simple user friendly idiot-proof system that anyone could use. Jobs was a decade ahead of the Microsoft based systems, using menu driven computers in the mid-80s that were not matched by Microsoft until Windows was developed in the mid-90s. His later generation of computers continues to include features that make it far superior to the competition.
"Jobs didn't do any of this by himself. He put together teams of great innovators. But the point is that he was able to recognize talented people and give them the means to make great innovations and bring them to the market. This is what a market economy is supposed to do."

[Stavros]

No...I actually pity them...they're so fatally mislead. I've passed the park several times and jump into my scrubs including a medical mask. I'm afraid of catching TB, but I do recognize the odor. It smells like one of the European soccer matches with 100,000 fans and 3 porta potties.
The first step in their recovery is to come to terms with the fact Obama has received more Wall St. money than any politician in history. Once they understand that, we can move onto other things like MF Global and Jon Corzine, but it's a slow process !!!!!!!

But isn't the point that a lot of what you object to is also what the OWS people object to? The Iron Lady, the 'biopic' about Margaret Thatcher with Meryl Streep may revive the debate on what her economic experiment was for -and in the context of the Cold War and three election victories she can be credited with the demolition of 'Old Labour' and its Keynesian romance: as well as manufacturing capacity and jobs. But what this left was a world in which Capitalism has only the autarky of North Korea, Burma and places like that as its rival -Obama after all comes with the CIA seal of approval- so the questions now are how to make capitalism work for all; or, what is the alternative?

[Stavros]

Ben
Your obsession with the corporate world might be about to go into overdrive -I am pasting a link to an article in New Scientist which analysed the spatial patters -Global Reach if you like- of corporations; with a dazzling graphic, here is the opening paragraph:

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

http://www.newscientist.com/article/...the-world.html

[Ben]

Here Obama is essentially saying the political class -- and other elites -- are above the law.
It pretty much started when President Ford pardoned Richard Nixon.
The core of our criminal justice system is to deter future crimes. Now what's going to deter the political class if they know they're above the law. Hence Obama saying we should not investigate Bush officials who engaged in torture:



And Glenn Greenwald's book explicates and elucidates on this phenomenon of elite immunity.

[Ben]

Ben
Your obsession with the corporate world might be about to go into overdrive -I am pasting a link to an article in New Scientist which analysed the spatial patters -Global Reach if you like- of corporations; with a dazzling graphic, here is the opening paragraph:

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

http://www.newscientist.com/article/...the-world.html

Corporations run the show. We all know that. Now there is a fundamental difference between a meaningful democracy and the way a corporate system is designed. The two are in acute conflict.
One system, democracy, is designed to serve people. The other is structured to serve the ownership class.
I mean, this is uncontroversial, isn't it?
The two are battling right now in these so-called Occupy movements. And corporations are not democratic institutions. For a reason: they must serve the people who own the stock. Not communities. Not workers. It's understandable. And rational. But anti democratic. Again, it - has - to - be. And so the struggle over democratic power and corporate power goes on and on and on -- ha ha!

[Faldur]

I think Corzine is the perfect guy to advise obummer on the US finances. With his imaginative financing we will be debt free in no time. Just don't ask to look at the books. Seems while he was chief executive at MF $1.2 billion in cash disappeared, "Ooops!".

It was there a minute ago..

[Ben]

Completely unrelated -- OMK, I like your current avatar of Mariana Cordoba.