Barclays plans to challenge the fines. But they should be thrilled that their company stands accused of manipulating energy markets without any individuals actually committing the fraud. FERC proposed only fines for the individual traders who manipulated the markets. Similarly, the Justice Department had the opportunity to nail Barclays traders with criminal charges in the Libor case and passed on it. So bank fraud persists without the kind of accountability that puts the perpetrators behind bars.
|By: masaccio Thursday August 16, 2012 2:52 pm|
And by jury, I mean the candy ass prosecutors at the Department of Justice, who have made an in-house decision that it’s just too hard to indict anyone at MF Global, including friend of Barack Jon Corzine, for stealing billions of customer dollars. It’s just impossible that a friend of Eric Holder’s could be found to be criminally responsible for allowing a company to steal money from its customers to give to its bank, especially when the bank is the much-loved JPMorgan Chase. After all, the Department of Eric Holder is made up of peers of the MF Global crowd, so it’s just like a real trial.
|By: fatster Monday April 30, 2012 6:30 am|
The news roundup from April 29, 2012, including links to stories about personhood bills, Oklahoma, EPA fracking rules, Navajo, solar energy farm, Minnesota GOP, Apple’s taxes, Iran war, Spanish unemployment, Jon Corzine and more.
|By: David Dayen Saturday March 24, 2012 10:15 am|
In the most damning evidence thus far of malfeasance at MF Global, Bloomberg reports that former New Jersey Senator and Governor Jon Corzine, while CEO of the company, personally ordered $200 million in investor funds transferred to cover an overdrawn account at JPMorgan Chase.
|By: David Dayen Thursday December 8, 2011 7:01 am|
Former Senator Jon Corzine faces a House Agriculture Committee panel today, where he will testify that he doesn’t know “where the money is” from customer accounts that was used by his former company, MF Global, to trade on the company account.
Joe Weisenthal points us in the direction of Corzine’s testimony, which he will give without pleading the 5th Amendment, despite still being liable for criminal charges in the MF Global case.
|By: David Dayen Tuesday November 1, 2011 9:25 am|
Jon Corzine’s investment company, MF Global, filed for bankruptcy after it was reported the firm was missing hundreds of millions in investor funds. It’s not clear where the money went, but the fund had invested heavily in European debt.
|By: Gregg Levine Tuesday November 3, 2009 7:15 pm|
MSNBC and AP are now both calling the race for Republican Chris Christie. With 70% of the precincts reporting, Christie holds a 50% to 44% margin over Corzine. Across the river, in New York City, number-crunchers are in quite a tizzy as the exit poll company has pulled back their projection of a Bloomberg victory [...]
|By: David Dayen Tuesday November 3, 2009 5:12 pm|
Polls in New Jersey and Maine are now closed. Leaked exit polls show New Jersey to be basically a tie, FWIW. There are no exit polls out of Maine. Virginia remains too early to call, which shocks me. The networks are being ultra-cautious. The latest numbers: 26.19% reporting McDonnell (R) 62.86% Deeds (D) 37.03% Deeds [...]
|By: Tula Connell Thursday June 26, 2008 10:30 am|
[Before I get into the post today, just want to make sure everyone knows the AFL-CIO formally endorsed Barack Obama today. More here.]
Marybeth Litcholt has worked as a casino dealer at the Trump Plaza Hotel and Casino in Atlantic City since 1987. After 21 years on the job, she makes $9 an hour.