MF global en faillite

Sûr que ça rigole pas

si ça pouvait se réaliser !



James Koutoulas de Typhon capital management fermera le compte de trading de son hedge fund, aupres de JPM, espérant être suivi en exemple par d'autres patrons de hedge funds !

Citation :

Koutoulas to Jamie Diamond – My JPM Account Won’t be the Only One Closed


Rick Santelli talks with James Koutoulas, Typhon Capital Management and lead lawyer in the lawsuit representing 8,000 M F Global customers by the CCC (Commodity Coalition Customers). Rick leads off with a question: “James, the eighth largest bankruptcy in history (MF Global) and yet media coverage is on the light side, why is that?” Koutoulas replies: “I think people are afraid to talk about JP Morgan, talk about Corzine, who is one of Obama’s biggest supporters.

We uge Vultures to view this short video in its entirety, especially the part where Mr. Koutoulas says: “Don’t worry Jamie, mine won’t be the only one.” (In reference to closing out his hedge fund’s trading account at JP Morgan.)

Koutoulas is insistent that MF Global innocent customers will get all of their money back. “You’re damn right they will,” he said. Somehow we believe him and would be glad to know he is on our team.

http://www.gotgoldreport.com/2011/12/koutoulas-to-jamie-diamond-my-jpm-account-wont-be-the-only-one-closed.html

la CFTC adopte des mesures de protection pour le collatéral sur les marchés de swap et annonce poursuivre son investigation sur ls dépots clients de MF Global

nous voilà rassurés ... personne n'est allé en prison, et tout est sous controle





http://www.reuters.com/article/2012/01/11/us-financial-regulation-swaps-idUSTRE80A15520120111



CFTC adds protections to customers' money






(Reuters) - The futures regulator on Wednesday adopted new protections for customer collateral posted in swap trades, and said it plans a broader look into client safeguards, as the search continues for hundreds of millions of dollars in missing MF Global customer money.

The Commodity Futures Trading Commission also proposed its draft of the Volcker rule that cracks down on banks' risky trading, a version similar to one introduced by four other regulators last October.

The measure to protect swap traders' collateral used in trades to reduce risk was approved by a 4-1 vote.

The rule was called for in the Dodd-Frank financial oversight law, but efforts to boost protection and segregation of customer collateral have gained momentum following the collapse of futures brokerage MF Global in October.

Investigators have estimated there is a $600 million to $1.2 billion shortfall of MF Global customer funds. Regulators have said it appears MF Global improperly diverted customer funds for the firm's use.

Thousands of MF Global customers, including many farmers who use futures to hedge risks, have had their money frozen.

Chairman Gary Gensler said the CFTC is expanding its look into the adequacy of customer protections, and may consider extending the swaps safeguards adopted on Wednesday to futures as well.

Futures are typically used by farmers and smaller traders to hedge risks, while over-the-counter swaps tend to be dominated by larger corporations and banks.

CFTC Republican Jill Sommers was the lone vote against the measure. She expressed concern the CFTC was taking "a piecemeal approach" to consumer protection by giving special treatment to swaps customers, but not those involving futures.

The rulemaking drew similar skepticism from Congress.

"Today's actions will do little to reassure the many farmers, who have lost their own property, that efforts to mitigate another MF Global are being factored into new rule changes," said House Agriculture Committee Chairman Frank Lucas.

"MISLEADING SENSE OF COMFORT"

The rule to protect swap traders' collateral, close to what the CFTC proposed in April, allows brokers to pool customer collateral but would prevent them from commingling the funds with their own capital.

It also lays out what happens in the event of a default. If one occurs by both the clearing member and one or more of its customers, the clearinghouse can only collect collateral of the defaulting member, or its own resources.

Each individual account would be legally protected and funds from non-defaulting members could not be tapped to cover losses from another firms' default.

Scott O'Malia, a Republican CFTC commissioner, warned the rule would not necessarily prevent another fiasco similar to MF Global.

"I believe that it is important to detail (our rule's) limitations, so that we do not offer market participants a misleading sense of comfort in light of the collapse of MF Global, Inc," said O'Malia, who voted for the rule despite his concerns.

The rule protects against fellow-customer risk. It does not protect against two other types: operational risk where an intermediary improperly segregates cleared swaps customer collateral, or investment risk where an intermediary experiences losses on its investment of cleared swaps customer collateral, which it cannot cover using its capital, he said.

Bart Chilton, a Democratic commissioner, pushed for further measures to protect U.S. investors and consumers, saying the "lessons of MF Global teach us that we don't have the luxury of time in making additional progress to protect customers."

Daniel Waldman, a partner with law firm Arnold & Porter and a former CFTC general counsel, said Wednesday's measure was a good first step.

"But a lot more will follow. They will need to address the MF (Global) issue" and improve protection for customer funds held by brokers, said Waldman.

The CFTC has finalized nearly two dozen rules, but it is behind on completing much of a regulatory framework for the $700 trillion over-the-counter derivatives market required under the Dodd-Frank law. Many of the high-profile and controversial rules remain.

VOLCKER RULE

The CFTC also voted 3-2 to propose its version of the Volcker rule that is designed to prevent U.S. banks from trading with their own funds and prohibit banks from investing in or sponsoring, beyond a small amount, hedge funds or private equity funds.

It would have the most impact on large banks such as Goldman Sachs and Morgan Stanley.

The CFTC said its proposal largely mirrors an October proposal from the Federal Reserve, Securities and Exchange Commission, Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency that is now open to public comment.

The CFTC's proposal, however, includes about a dozen questions asking whether certain provisions of the joint Volcker rule should not apply to banking entities regulated by the CFTC. The proposal will be open to a 60-day public comment period.

O'Malia and Sommers voted against the proposal. Sommers said the CFTC hasn't taken enough time to consider all of its implications, while O'Malia said the proposal could deter smaller banks from serving a market-making function while reducing the capacity of large dealers to provide liquidity.

The CFTC also approved on Wednesday rules for registration of swap dealers and major swap participants, and business conduct standards for swap dealers and major swap participants with counterparties.

The futures regulator has tentatively scheduled a rule-making meeting for January 25 when the CFTC is expected to vote on joint rules with the Securities and Exchange Commission on defining a swap dealer and a major swap participant.

(Reporting By Christopher Doering; Editing by Bob Burgdorfer, David Gregorio and Marguerita Choy)

procès en class action contre MF Global et toutes les entitées impliquées dans l'affaire



Theft, RICO lawsuit targets MF Global, CME Group, MorganChase


Submitted by cpowell on Thu, 2012-01-12 23:03. Section: Daily Dispatches
6p ET Thursday, January 12, 2012

Dear Friend of GATA and Gold:

Our friends at the Philadelphia law firm of Berger and Montague this week brought a class-action lawsuit in federal court in New York, charging theft and misappropriation, against people connected with the failed commodity brokerage firm MF Global, including its former CEO, former New Jersey U.S. Sen. and Gov. Jon Corzine; MF Global's enabler and supposed regulator, CME Group; and the investment bank JPMorganChase. The lawsuit is brought under both the Commodity Exchange Act and the Racketeer-Influenced Corrupt Organizations Act -- the famous RICO. (Maybe the lawsuit can determine where MorganChase put Judge Crater.)

MF Global clients interested in participating in the lawsuit should contact Berger and Montague's Merrill Davidoff at mdavidoff@bm.net or 215-875-3084 or Michael DellAngelo at mdellangelo@bm.net or 215-875-3080.



The lawsuit's complaint is posted at GATA's Internet site here:

http://www.gata.org/files/MFGlobalClassAction-01-12-2012.pdf



CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



http://www.gata.org/node/10875



*************



le liquidteur annonce qu'il n'y aura pas assez d'argent pour rembourser les clients !



MF Global May Not Be Able to Pay Clients Back: Trustee

The trustee liquidating MF Global Holdings's collapsed brokerage does not believe the brokerage will have enough money left over after paying back creditors to close any shortfall in customer accounts. The roughly $290 million in general estate funds — that is, money reserved for creditors that are not MF Global customers — may not be enough to make customers whole, James Kobak, an attorney for trustee James Giddens, said at a customer meeting in New York on Thursday.

Giddens has estimated that about $1.2 billion is missing from customer accounts at the brokerage. Some customers have argued that they should be allowed to make up for that shortfall by recovering money from the non-customer creditor pool.

"We might support that in certain circumstances, but at this point there simply isn't a substantial amount of general property available to make up for shortfalls," Kobak said.

-END-

Corzine, JPM et les exécutifs de MF Global sont nominativement désignés dans les procès en class action

http://www.businessweek.com/news/2012-01-20/corzine-sued-for-rico-violation-by-mf-global-customers.html



Bien entendu et comme dit par ailleurs, les liens de l'administration Obama et des banksters n'ont jamais été aussi étroits ( depuis son élection, le nb de poursuites pour "fraudes des bigs banques" a considérablement diminué ... merci aux généreux donateurs de la campagne Obama ... )



il y aurait certainement plus de chances d'aboutir en demandant la nomination d'un procureur spécialisé et ayant fait ses preuves dans le domaine des grandes banques d'affaire ...

il y en avait justement un, Elliot Spitzer, qui est "miraculeusement tombé" pour une sombre affaire de moeurs

http://jessescrossroadscafe.blogspot.com/2012/01/corzine-mf-execs-and-jpm-named-in-rico.html

on tombe vraiment dans l'infamie, de pire en pire, avec cette affaire .

les malheureux clients floués par cette affaire,

qui seraient tenté de déduire ces pertes de leur fiscalité 2011, devront faire l'impasse sur une éventuelle et très hypothétique récupation

ce, pourquoi des fonds vautours s'empressent de "racheter" les créances des clients à vil prix, leur "permettant ainsi" de fiscaliser leurs pertes ... en échange, évidemment d'une renonciation totale sur leurs plaintes !

et ça marche ... la plus part des clients abusés se sont laissé tenté, histoire de pouvoir passer l'opération, fiscalement, en perte !


http://jessescrossroadscafe.blogspot.com/2012/01/mf-global-despicable-state-of-affairs.html

rien d'étonnant à vouloir faire affaire avec des voleurs légaux patentés.

table de la loi N°1: Par définition un financier est un voleur.

table de la loi N°2: il n'y a pas d'exception à la loi N°1

Reuters
MF Global shortfall worsened as bankruptcy neared
Mon Feb 6, 2012 2:18pm EST

Feb 6 (Reuters) - The trustee liquidating MF Global Holdings Ltd's broker-dealer unit said the shortfall in commodity customer accounts began five days before the company's bankruptcy and grew in the days leading up to the Chapter 11 filing.

James Giddens, the trustee for MF Global Inc, said in a statement that his investigation has revealed that MF Global personnel might not have known of the shortfall at the time. (Anyone in the business must be rolling on the floor laughing at this one. Oops, sorry, we inadvertently took the customer money by mistake, a simple $1.2 billion error, and its too late to give it back to the right persons. But we're dreadfully sorry for our innocent mistake. - Jesse)

He said he has traced a majority of cash transactions, totaling more than $105 billion, made in the last week prior to MF Global's bankruptcy on Oct. 31, 2011. Giddens said he is working with third parties to seek more complete information about transfers to "select" parties prior to that bankruptcy.

Giddens also said it is unknown when he will be able to make more distributions to former customers.



voir les commentaires chez Jesse



http://jessescrossroadscafe.blogspot.com/2012/02/mf-global-select-parties-received.html

plus ça va, plus on en découvre, sur cette affaire ==> l'enquête fédérale indique que

-325 millions de $ ( qui pourraient avoir appartenu à des clients ) ont été transférés - en dehors de l'entreprise- quelques heures avant la mise en faillite de MF global , dans le cadre du chapitre 11

-220 millions de $ le 21 octobre 2011 sur des comptes internes pour boucher le trou découvert dans le compte des clients de la firme , tentative infructueuse... vous connaissez la suite



bref, l'argent ça va, ça vient chez MF global...on ne sait pas encore combien exactement ..., mais les virements externes, fonctionnent très bien, ça c'est une certitude !



sérieusement, plus ça va, plus cette affaire est débectante !



http://jessescrossroadscafe.blogspot.com/2012/02/feds-key-in-on-325-million-wire.html

MF Global: Crime, Comedy and the Cover-Up




http://www.huffingtonpost.com/janet-tavakoli/mf-global-crime-comedy-an_b_1306018.html

vous vous souvenez qu'il y avait eu litige sur la propriété de contrats barres d'or et d'argent, entre le liquidateur et une division d'HSBC

Hsbc est déboutté et il y a donc eu un accord entre les 2 parties

ce que l'article ne dit pas, c'est ce que deviennent ces fameux contrats : son'ils ou non, restitués à leur propriétaire véritable?
je crains bien que non ( voir plus haut dans la file )


MF Global Judge Approves HSBC Settlement With Trustee Over Gold




The judge handling the MF Global (MFGLQ) Inc. liquidation approved a settlement between the trustee and a unit of HSBC Holdings Plc (HSBA) after the trustee conceded that gold and silver bars underlying contracts held by a customer belonged to the customer and not to the brokerage estate, according to a bankruptcy court filing in Manhattan yesterday.

HSBC had sued the trustee to determine ownership of the assets.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

non, vous ne révez pas !

le liquidateur va demander à la cour que soient versé des bonus à ces braves gens, qui continuent de travailler ds la compagnie, pour le compte du liquidateur... SI ils atteignent certains objectifs, notamment l'accroissement de ce qui sera versé aux créanciers ( dont la tête de file est JPM)







http://jessescrossroadscafe.blogspot.com/2012/03/mf-global-trustee-freeh-asks-court-to.html

voir seconde partie de la vidéo : Koutoulas défend les intérêts des 8000 clients de MF global au sein d'une association, et déclare entre autres que JPM a fait du chantage auprès des médias,

les menaçant de retirer ses campagnes publicitaires, s'ils se montraient trop inquisiteurs sur ce sujet, et notamment s'ils donnaient la parole à Koutoulas

http://jessescrossroadscafe.blogspot.com/2012/03/mf-global-mark-melin-interviews-haar.html



ce dernier a également publié une lettre ouverte à Jamie Dimon, le patron de JPM



http://prudent-speculation.blogspot.com/2012/03/but-of-course-its-not-one-giant-cess.html

ça c'est la meilleure ... la CFTC bosse sur manipulation platine et palladium... mais sur l'argent et JPM... jamais ...

pfttt



http://www.reuters.com/article/2012/03/14/us-financial-regulation-mfglobal-idUSBRE82D1EX20120314

3 jours avant la faillite de Mf Global, Corzine a donné des instructions directes pour transfert de 200 millions de $ du compte client , pour répondre à un appel de couverture d'un de ses comptes broker chez JPM à Londres

autrement dit ... Corzine a eu un appel de couverture de JPM / londres, auquel il a "satisfait" en approvisionnant avec 200 millions de $ de son compte client !



http://jessescrossroadscafe.blogspot.fr/2012/03/corzine-gave-direct-instructions-to.html



http://www.bloomberg.com/news/2012-03-23/mf-global-s-corzine-ordered-funds-moved-to-jpmorgan-memo-says.html

décidément les ennuis de JPM s'accumulent en ce moment

toujours est t'il qu'on aprend par un communiqué du liquidateur

que JPM serait en négociation avec le liquidateur MF global pour la récupération des fonds de la clientèle dont un montant substantiel serait détenu par JPM, dixit le liquidateur



http://dealbook.nytimes.com/2012/04/05/jpmorgan-in-talks-over-mf-global-customer-money/

les 1.6 milliards de $ manquants sont désormais tracés
et il y a suffisamment de preuves pour poursuivre et sanctionner les coupables

Citation :

The missing $1.6 billion in rehypothecated MFG client funds has reportedly all been located by investigators, with nearly $700 million of the missing funds now at JP Morgan.



MFG clients’ representative James Koutoulas states ‘there are enough facts out here to start arresting people and start filing charges‘.

Investigators probing the collapse of bankrupt brokerage MF Global said Tuesday that they have located the $1.6 billion in customer money that had gone missing from the firm.

Roughly $700 million of the missing money is now locked up with MF Global’s subsidiary in the United Kingdom, where Giddens and his team are engaged in litigation to have it returned to U.S. customers. Giddens said he is “reasonably confident” that these funds will be recovered, though he added that it will be a lengthy process with no guarantee of success.

Another $220 million was transferred inadvertently from the accounts of securities customers to those of commodities customers. That money is now in limbo amid a dispute over which customers it belongs to, said Kent Jarrell, a spokesman for Giddens.

The final $680 million or so was transferred to other financial institutions with which MF Global did business, including a substantial portion that went to JPMorgan

“Crimes have been committed here without a doubt,” said James Koutoulas, an attorney and trader who has been advocating on behalf of MF Global customers.

“We think there are enough facts out here to start arresting people and start filing charges.“

http://money.cnn.com/2012/04/24/news/companies/mf-global/

600 $ millions sur le trou de 1.6 milliards $





J.P. Morgan Chase & Co. has returned roughly $600 million that was ensnared at the bank when MF Global Holdings Ltd. collapsed in October, people familiar with the matter said.

Most of the payments haven't been disclosed publicly, and a bankruptcy trustee representing customers of the failed securities firm might pursue J.P. Morgan for as much as several hundred million dollars in additional claims, according to a person familiar with the investigation.

Still, the New York bank's payments are a sign of progress in efforts to fill the estimated $1.6 billion hole left in customer accounts at MF Global. Money recovered by the bankruptcy trustee, James Giddens, eventually will be passed along to customers, though the amount depends on the outcome of continuing legal squabbles and negotiations.

A spokesman for Mr. Giddens said in a statement that "substantive discussions" are under way with the nation's largest bank in assets for "the resolution of other claims" made on behalf of the former customers. J.P. Morgan continues to cooperate with the investigation, the spokesman added.



J.P. Morgan was one of MF Global's biggest creditors and handled many of its trades as the New York securities firm scrambled to save itself in late October. MF Global also transferred $175 million to fix an overdraft in one of the firm's accounts at the bank, according to congressional testimony.

Bank officials have said J.P. Morgan never intentionally accepted or held on to money that belonged in segregated customer accounts at MF Global. In May, the trustee announced that J.P. Morgan agreed to hand over $168 million that came from collateral held at the bank when MF Global filed for bankruptcy.

Bank officials contend that J.P. Morgan isn't holding more MF Global money, according to people familiar with the matter. Mr. Giddens hasn't reached the same conclusion and could demand additional payments, claiming that money passed through J.P. Morgan on its way elsewhere, according to a person familiar with his thinking.

If that happens, J.P. Morgan might counter that its repayments to date have exceeded $600 million, not including the losses suffered by the bank as a creditor to MF Global. While that $600 million could help lower the $1.6 billion shortfall, much of that money already had come back to MF Global before the shortfall estimate was made.

Mr. Giddens is expected to disclose in a report Monday details about where the money in customer accounts went, including the portions that are believed to have gone to J.P. Morgan.

The trustee also is expected to disclose more information about how the money went missing. It isn't clear how detailed the report will be, partly because other investigators have expressed concern that too much disclosure by Mr. Giddens could hurt their continuing probes.

MF Global moved money out of customer accounts to cover margin calls and meet other obligations. No one has been charged with wrongdoing.

Jon S. Corzine, the former MF Global chief executive, and other officials at the firm have told lawmakers that they didn't realize customer money had been tapped until employees told them the day before its bankruptcy filing about an apparent shortfall.

J.P. Morgan and MF Global had close ties. The bank facilitated trades on behalf of MF Global and in the firm's final weeks, J.P. Morgan officials spoke to Mr. Corzine and other senior MF Global executives about liquidating assets and dealing with ratings firms, according to people close to those discussions.

J.P. Morgan even considered buying MF Global, but then backed away amid questions about money transfers that came up three days before the securities firm filed for bankruptcy.

MF Global officials never provided written documentation that J.P. Morgan asked for on two transfers. The bank wanted to know if the money moves were in accordance with Commodity Futures Trading Commission rules. A J.P. Morgan lawyer later told lawmakers that the bank received verbal assurances from MF Global that the transfers were proper.

Many U.S. customers have recovered 72 cents of every $1 from their MF Global accounts. They are expected to get another eight cents per dollar soon.

The $1.6 billion shortfall also includes about $700 million stuck in the U.K. bankruptcy process and is affected by money being held back by the trustee for potential legal claims. On Friday, a U.K. court scheduled a trial for April 2013 on the trustee's issues in that country.



http://online.wsj.com/article/SB10001424052702304821304577440693850068120.html

certains comptes "amis" ont été étrangement dégagés, juste avant le dépot de bilan de MF global, à l'instar des comptes de Koch industries, spécialisé sur le trading du pétrole

Citation :

A recent report in Reuters has described the billions of dollars of client accounts that were withdrawn from MF Global in the last few weeks before their collapse, including 8 accounts from Koch industries engaged in oil trade that were transferred to Mizuho Securities after years of a steady and profitable relationship with MF. The Reuters piece concentrates on the possibilities of legal "clawback" of client money if the bankruptcy does not allow remaining client accounts to be made whole...

http://www.huffingtonpost.com/daniel-dicker/the-koch-brothers-and-mf-_b_1089906.html

En ce qui concerne PFG-Best on retrouve le même schéma , les comptes clients sont évaporés et JPM à la manœuvre ...


Mais comme on dit jamais 2 sans 3 voir plus car la JPM est dans de sales draps, normal quand on pratique des saloperies.

extrait de la lettre jim CB willie de juillet

Citation :

AS THE FINANCIAL WORLD TURNS, IT IS ROCKED AGAIN BY ANOTHER FUTURES BROKERAGE THEFT. THE DEED BECAME NECESSARY TO KEEP JPMORGAN THE HUNGRY CORNERED MONSTER ALIVE. LOOK FOR PFG-BEST CLIENTS NOT TO RECEIVE DELIVERY OF GOLD & SILVER CONTRACTS. INSTEAD, LIKE WITH MF-GLOBAL, THEIR ACCOUNTS HAVE VANISHED. ONCE MORE, JPMORGAN IS CUSTODIAN OF THE PFG-BEST FOREX CURRENCY ACCOUNTS. ALL SUSPICION FOR THE THEFT IS WITH THE COLOSSUS.

At the scene of the crime once more is the same custodian for the PFG-Best foreign exchange FOREX accounts, none other than JPMorgan! Look for the venerable giant JPMorgan to discover another $400 million in mysterious profits or precious metals deliveries soon from a murky source.

The same drill. Segregated accounts at PFG-Best have been raided. After the MFGlobal fiasco, they were supposedly made safer. Not so! No solutions come to the US financial system, only whitewashes and continued thefts. The regulators were put on the spot in the aftermath. But the regulators at the CFTC, the SEC, and the CME assured such an event would never happen again. Wrong! The Jackass warned of its inevitability. Ann Barnhardt warned all to exit such futures brokerage accounts. The National Futures Assn has filed notice prohibiting PFG-Best from operating further, thus freezing all of its accounts. Their public statement read, "On July 9, 2012, the NFA made inquiry with US Bank and learned that rather than the $225 million that PFG had reported as being on deposit at US Bank just days earlier, PFG had only approximately $5 million on deposit at US Bank." The translation is simple, that another $220 million in segregated accounts had been stolen, the Modus Operandi looking strangely familiar to the trails left behind by Jon Corzine and MFGlobal.

Corzine traine tellement de casseroles ou plutôt devenues chaudrons qu'il devrait plus tarder à "sauter" .

Citation :

Editor's Note: We're hearing there is more to be revealed this week.

What do Jon Corzine, Eric Holder and MF Global all have in common?

Besides fraud.

Law firm Covington & Burling.

This story is not going unnoticed in Congress. Look for a Special
Prosecutor to be appointed in the next month. Obama buddy Jon Corzine's
luck might be finally starting to run out.


Those wondering why the Department of Justice has refused to go after
Jon Corzine for the vaporization of $1.6 billion in MF Global client
funds need look no further than the documents uncovered by the GAI that reveal that the
now-defunct MF Global was a client of Attorney General Eric Holder and
Assistant Attorney General Lanny Breuer’s former law firm, Covington
& Burling.

Records also reveal that MF Global’s trustee for the Chapter
11 bankruptcy retained as its general bankruptcy counsel Morrison &
Foerester--the very law firm from which Associate Attorney General Tony
West came to DOJ.

There's more.

As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday,
the trustee overseeing MF Global’s bankruptcy is former FBI Director
Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a
character witness for Holder and revealed that Holder had previously
worked for Freeh. “As general counsel,” Freeh said, “I could have
engaged any lawyer in America to represent our bank. I chose Eric.”

Until now, the conventional wisdom for why Holder wouldn’t throw the
book at Corzine was that Corzine is an Obama campaign bundler. Indeed,
as Breitbart News reported, four of the top officials at the Department
of Justice--Eric Holder, Thomas Perrelli, Karol Mason, and Tony
West--were also big money bundlers for Obama.

But the newly understood crony connections reveal conflicts of
interest that extend well beyond mere political support for a common
candidate--they go to a tangle of prior business dealings that further
underscore the need for a special prosecutor in the Corzine case.

At least 65 members of Congress have already signed a letter to
Attorney General Eric Holder requesting that he appoint a special
prosecutor to investigate MF Global’s collapse and the loss of $1.6
billion in customer money. What’s more, even progressives have begun to wonder whether Holder’s Covington & Burling connection explains why the Department of Justice has not charged, prosecuted, or jailed a single Wall Street executive after the biggest financial collapse in American history.

As Richard Eskow of the Huffington Post recently wrote:

More and more Washington insiders
are asking a question that was considered off-limits in the nation's
capital just a few months ago: Who, exactly, is Attorney General Eric
Holder representing? As scandal after scandal erupts on Wall
Street, involving everything from global lending manipulation to cocaine
and prostitution, more and more people are worrying about Holder's
seeming inaction -- or worse -- in the face of mounting evidence.

---

Cronyism Is Preventing Prosecution In The Corzine Case

Washington Times

Sixty-five members of Congress have signed a letter to Attorney
General Eric H. Holder Jr. requesting that he appoint a special
prosecutor to investigate MF Global’s collapse and the loss of $1.6
billion in customer money. As the New York Times has noted, “Mr.
Holder has the ultimate authority to decide whether a special counsel is
necessary.”

Some contend that the fact that Mr. Holder, Mr. Corzine and
Associate Attorney General Tony West all previously served as
fundraising “bundlers” for President Obama’s presidential campaign is
enough to warrant Mr. Holder’s recusal and the appointment of a special
prosecutor. Indeed, a letter signed by 65 members
of Congress cites Mr. Corzine’s $500,000 in fundraising for Mr. Obama as
one of the reasons a special counsel is needed. A
subsequent report by Bloomberg revealed that MF Global had written
clauses into bond offerings indicating that Mr. Corzine, a former
Democratic U.S. senator and governor of New Jersey, might join a
future Obama administration as a Cabinet officer, a revelation that
surprised even experienced Wall Street executives.

However, political connections aside, there are at least three
compelling economic and financial reasons why a special prosecutor is
essential to avoid the appearance of any potential conflicts of
interest.

First, the Government Accountability Institute has discovered that
prior to going bankrupt, MF Global was a client of Mr. Holder’s former
law firm, Covington & Burling. It is unclear how
long Covington & Burling represented MF Global. However, records
reveal that MF Global owed Covington & Burling $114,275.55 “for
services rendered prior to Oct. 31, 2011,” the date MF Global filed for
bankruptcy protection. Furthermore, this connection is complicated by
the fact that the head of Justice’s criminal division, Assistant
Attorney General Lanny Breuer, also hailed from Covington & Burling.

What’s more, Associate Attorney General Tony West, who helped
raise an estimated $65 million in his role as the co-chairman of Mr.
Obama’s campaign, came to the Department of Justice from Morrison &
Foerster. The problem: MF Global’s trustee for the Chapter 11
bankruptcy has retained Morrison & Foerster as its general
bankruptcy counsel.

http://dailybail.com/home/corzine-cronyism-bombshell-high-ranking-doj-lawyers-and-ag-e.html

nouveaux rebondissements mettant en cause la CFTC

Citation :

Highlighted are two points of potential criminality: the initial phase, when illegal money transfers were hidden by false segregation reports; and the cover-up phase, where the CFTC was in possession of potentially criminal information and knowingly withheld this information. CFTC's inaction and withholding of critical information, particularly in court, resulted in significant damage to the integrity of the segregated account.

http://jessescrossroadscafe.blogspot.fr/2012/11/new-twists-in-mf-global-scandal-focus.html

accord entre JPM et le liquidateur de MF Global : 540 millions $



http://www.reuters.com/article/2013/03/20/us-jpmorgan-mfglobal-idUSBRE92J03N20130320