If you had $100 in cash, you’d probably have the sense to put it in a safe place, right?
If you were a seasoned financial expert who helped write the Sarbanes-Oxley Act, served as New Jersey governor and chaired the Democratic Senatorial Campaign Committee, you’d expect people to hold you accountable, right?
If you were a member of President Barack Obama’s inner circle, a major bundler who raised more than $500,000 for the liberal Democrat’s 2008 victory, you’d expect to be held accountable, right?
Jon Corzine, whose recent post as CEO of MF Global came to an end in November, 2011, claims he can’t explain where more than $1 billion of the firm’s clients’ dollars went:
“In prepared testimony posted on the House Committee on Agriculture's website, Corzine apologized to ‘all those affected’ by the firm's estimated loss of $1.2 billion in client funds…’I simply do not know where the money is, or why the accounts have not been reconciled to date,’ Corzine's prepared testimony read. ‘I do not know which accounts are unreconciled or whether the unreconciled accounts were or were not subject to the segregation rules.’" [Fox News]
How do you lose track of more than $1 billion?
Corzine joins an ever-expanding list of Obama chums who have been actors in scandals that would fill a sizzling blockbuster expose. Don’t expect Hollywood to splash those Democrat tales on the silver screen, though.
Corzine’s amnesia isn’t the only bizarre development.
Corzine played a role in the global meltdown no one talks about—the publicly funded bailout of Long Term Capital Management during the administration of President Bill Clinton. Time Magazine billed that bailout as saving the world’s financial system. Who helped enable that meltdown? The NY Federal Reserve.
There are also questions about ‘regulatory gifts’ Corzine allegedly enjoyed; those allegations are detailed by Doug Ross. For one thing, Ross notes:
“The Financial Industry Regulatory Authority Inc. (FINRA) [had given] Jon Corzine a waiver from his Series 7 and Series 24 exams when he took the helm of MF Global in March 2010...”
Obama has made it a point to travel around the country reportedly in search of support for his policy. Many conservatives believe the president is simply campaigning on taxpayer dollars. Ironically Obama pitches a Robin Hood concept to his gullible supporters—he’s going to get them their ‘fair share’ by pushing for a tax increase on the so-called ‘wealthy.’ Never mind Obama’s energy policy has jacked up household expenses by a sizable margin and price increases will more than wipe out any payroll tax deduction he’s lobbying for.
Commentary Magazine summed up the latest Obama ‘scandalee’:
“Corzine was, after all, not just a Democrat but one of the party’s bright hopes just a few years ago and a leading liberal advocate for bigger government as well as, in a touch dripping with irony, for reining in excessive compensation for Wall Street executives. More than just a stereotypical ‘limousine liberal,’ Corzine was a major figure in mobilizing financial support for the Democratic Party, a role that he continued to play even after losing his try for re-election in 2009 to Chris Christie. The White House will try to distance itself from Corzine, but the disgrace of one of his leading bundlers will make it a little harder for Obama to spend the next year wandering the countryside complaining about Republican responsibility for Wall Street greed and income inequality.”
Numerous figures in Obama’s inner circle are proving to be nothing more than sophisticated looters. Furthermore, his energy policy, consisting mainly of expensive solar options, benefits his corporate cronies GE and Google both of whom have sizable investments in renewable energy. (Channeling Democrat Al Gore.)
Despite ongoing scandals, Obama still largely receives his standard pass from numerous big media who actively lobbied to elect him in 2008 and will probably do the same in 2012.
(Op-Ed by Kay B. Day/Dece. 8, 2011)