Corzine Faces Trading Ban

Discussion in 'Politics' started by Lucrum, Jun 28, 2013.

  1. Lucrum


    A U.S. regulator’s lawsuit against Jon Corzine could make him the first former leader of Goldman Sachs Group Inc. to be banned from trading, the industry he returned to after serving as a New Jersey senator and governor.

    The complaint filed yesterday by the Commodity Futures Trading Commission seeks to punish Corzine for failing to supervise employees at MF Global Holdings Ltd., which transferred client funds to pay debts in a failed effort to save the firm. Less than a year after the October 2011 bankruptcy, Corzine considered starting a hedge fund, the New York Times reported in August, citing people with knowledge of his plans.

    If the CFTC prevails against Corzine, “he’ll face a very serious challenge if he ever wants to be involved in the money-management business again,” said Gregory Bruch, a law partner at Bruch Hanna LLP in Washington and former assistant enforcement director at the Securities and Exchange Commission. “They’re trying to bar him from the business, and that’s going to be a huge fight.” ...

    Hanged drawn and quartered would have been more appropriate.

    I wonder if Obama knows this is happening, I can't imagine he'd approve.
  2. To simply "bar him from the business" seems a mere slap on the wrist.
  3. Max E.

    Max E.

    LOL, banned from trading? What a joke, who in their right mind was going to give him money after that fiasco? He was essentially banned from trading the day the scandal broke.

    These government idiots are high fiving each other cause they sued corzine for a few hundred million while he made off with a billion. These idiots really think they put the screws to corzine, when realistically all they did was prove that people like him are above the law.
  4. Memo to bank robber: We are no longer interested in doing business with you. We regret taking this tough stance, but we do have a business to run. We hope you understand. All prior "indiscretions" are forgiven. Good luck in your future endeavors.
  5. Tsing Tao

    Tsing Tao

    Change we can believe in.
  6. pspr


    I'm surprised they aren't bringing criminal charges. I guess they just found he is incredibly stupid and sloppy in business but not criminal?
  7. jem


    either that or he brings a lot of money in for obama and the dems.

  8. LEAPup