I lost track of Jon Corzine...


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Submitted by lambert on Tue, 07/31/2012 - 2:25am

.... top D bundler.* Is he in jail yet for stealing all that money from MFGlobal customers?

No?

NOTE * I love the term "bundler." It's so cozy.

UPDATE This is good. Reuters:

MF Global, which was led by former New Jersey Governor and U.S. Senator Jon Corzine, ~~collapsed~~ was successfully looted in October after investors and customers became rattled over its multibillion-dollar bet on European sovereign debt and downgrades by credit rating agencies, resulting in a liquidity crunch.

A measure known as the "Corzine rule" would require top executives at futures brokers to sign off on major withdrawals from customer accounts. A major withdrawal would be considered anything more than 25 percent of a customer's excess funds.**

It was developed in response to Corzine saying he had no direct knowledge of money transfers made by the firm.

Ha ha. A new rule. And so, like, totally not gameable.

NOTE ** So that's how much they can steal, then? That's not very much!

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