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]I just bought another rifle and 500 more rounds of 7.62. Just giving .02 to this conversation. And, I agree with you Ancona. It's hard to stomach all the B.S. anymore.
I remember years ago I was with my father riding west on I-275, having just turned off of I-75 out of Cincinnati, headed home to the 'burbs. It was summer time and it had been real dry again. The 'Greater Area' landfill run by a company called Rumpke was literally a mountain in the distance on the horizon and it had a small fire broken out on it. Just then the radio happened to be talking about the smoke from it causing some problems for local traffic. My dad turns to me a little and says, "I'm sorry, Paul." I asked him why he was sorry. He said, "For all the problems my generation will be leaving your generation to fix."
Fix indeed...
He is certainly a POS, but he is nothing compared to the evil that is George Soros and those like him who's names we will never know.Corzine is The Biggest POS on the Planet.
But, he is a big cog in Team Obama and Team D. Will he get indicted? Will he go to trial? Two big ifs there. I am sure that Eric Holder will find a way to do anything VERY SLOWLY (look at "Fast and Furious"). If by chance he is convicted and sent to jail, Obama can pardon him in early November 2012.
Whatever you do, don't drink raw milk...Steal a sandwich from 7-11 or smoke the wrong herb in the wrong place gets you in jail easily enough. Steal a billion? Well, let's see!
KMS said:I just bought another rifle and 500 more rounds of 7.62. Just giving .02 to this conversation. And, I agree with you Ancona. It's hard to stomach all the B.S. anymore.
I remember years ago I was with my father riding west on I-275, having just turned off of I-75 out of Cincinnati, headed home to the 'burbs. It was summer time and it had been real dry again. The 'Greater Area' landfill run by a company called Rumpke was literally a mountain in the distance on the horizon and it had a small fire broken out on it. Just then the radio happened to be talking about the smoke from it causing some problems for local traffic. My dad turns to me a little and says, "I'm sorry, Paul." I asked him why he was sorry. He said, "For all the problems my generation will be leaving your generation to fix."
Fix indeed...
MF Global Inc. brokerage customers, who may be missing more than $1.2 billion from their accounts, won’t be allowed to form a committee to represent their interests in bankruptcy court, a judge ruled.
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Warren Pollock has interviewed the Commodity Customer Coalition's CEO James Koutoulas on MFGlobal and JPM's theft of MFG clients' segregated funds due to MFG rehypothecation.
Koutoulas states that the CME's Terry Duffy told him personally that the CME could have made MFG clients whole on their rehypothecated assets, but that the action would have set a $185 Billion precedent.
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Nobody disputes the fact that MF Global officials dipped into customer accounts and took over $1.6 billion of customer money. We not only know that company officials reached into customer accounts, we know they brazenly lied to bondholders, ratings agencies and investors about the firm's financial condition ("MF Global's capital and liquidity has never been stronger," wrote the CFO of MF Global’s holding company, on the same day Moody’s downgraded it to junk status).
We even know that eighteen days before the firm went bust, company officers discussed how quickly to return money to customers, and even contemplated, in writing, the possibility of not returning the money right away. This is from a risk-assessment document prepared by company officers entitled "Break the Glass":…Who do we want to be after the storm? How quickly do we want to send cash back to clients, what is the message if we do not send immediately, what is the strategy if we want to keep the customer and wait until the storm passes?
In the wake of the 2008 crash it’s often been said that one of the major problems in getting the public to grasp the crimes committed by banks and financial companies is the extreme complexity of the transactions used. The mortgage-backed-securities scam by itself was really just a common fraud scheme, but it was cloaked in the extremely complex verbiage and advanced math of derivatives transactions, which made it possible for bankers to bluff their way through an argument that no crimes had been committed.
But MF Global is different. This is not complicated at all. This is just stealing. You owe money, you don’t have the cash to cover it, and so you take money belonging to someone else to cover your debts. There’s no room at all here for an argument that this money was just lost due to a bad investment, an erroneous calculation based on someone's poor understanding of a complex transaction, etc. It’s straight-up embezzlement.
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Does anyone notice a [perhaps] pattern developing here? When we look at MFGlobal and the stolen goods, and we look at PFG, there was a clear manipulation at both companies that hid material wrongdoing and the regulators were asleep at the wheel, or they were complicit. If we see another one go down [things really do happen in threes after all] it will be apparent to me that the practice of comingling client dollars with firm dollars is common practice. It's kind of like "sweeps" for banks. After business hours, all of our demand deposits are "swept" in to the common pool and the number becomes an average rather than a hard number, since demand deposits constantly flux. Either way, they're stealing money and they are doing it with the seeming blessings of the CFTC.
I just bought another rifle and 500 more rounds of 7.62. Just giving .02 to this conversation. And, I agree with you Ancona. It's hard to stomach all the B.S. anymore.
I remember years ago I was with my father riding west on I-275, having just turned off of I-75 out of Cincinnati, headed home to the 'burbs. It was summer time and it had been real dry again. The 'Greater Area' landfill run by a company called Rumpke was literally a mountain in the distance on the horizon and it had a small fire broken out on it. Just then the radio happened to be talking about the smoke from it causing some problems for local traffic. My dad turns to me a little and says, "I'm sorry, Paul." I asked him why he was sorry. He said, "For all the problems my generation will be leaving your generation to fix."
Fix indeed...
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