Connecting The Dots

Connecting some dots on MF Global…

Per zero hedge, the WSJ says the missing customer money has been “vaporized.”

As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed trustees grinds on, the findings so far suggest that a “significant amount” of the money could have “vaporized” as a result of chaotic trading at MF Global during the week before the company’s Oct. 31 bankruptcy filing, said a person close to the investigation.

South Park shows us how this works:

An MF Global customer takes the WSJ to task:

Client money in segregated bank accounts was not “vaporized”; it was stolen via illegal transfers to support MF’s proprietary trading positions and to repay creditors such as JP Morgan. Those transfers are and always were illegal…….even “under rules at the time”. Your use of that irrelevant and misleading phrase twice only serves to deflect attention from the criminal acts committed by Corzine, Abelow, Steenkamp and Ferber. Your own article goes on to state that “rules require customer funds to be set aside and kept safe”. Even Gary Gensler and Jill Sommers have testified that customer funds needed to be segregated at all times. The failure to do so is a clear violation of the Commodity Exchange Act; “intent” is not an element of this criminal act.

But we then add in the missing factor that makes the difference between “stolen” (somebody’s fault) and “vaporized” (obviously, just forces of nature at work): According to Barack Obama’s 2012 campaign website, Jon Corzine of Hoboken, New Jersey raised at least $500,000 for the president’s reelection effort. Here’s the listing.

Ta da. Dots connected.

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