Those reading my blogs on European Debt and American debt will know the story of the bankruputcy of MF Global, an event which I declared was disasterous for American taxpayers.
This is just a typical case, replicated many times on wall street where taxpayer and retirement monies simply are stolen, lost or go missing and nothing is done as these firms simply declare bankruputcy and walk away and nobody does anything about it because the politicians are bought and paid for by wall street.
This is a case where 1.2 billion dollars is missing, much of it taxpayer money, retirement funds, and get this: who will be expected to make up those monies in the end. Us taxpayers.
Three different congressional committees are trying to get Corzine to talk, but you can expect that his wall street buddies will try to protect him, least they too be exposed as to their own illegitimate use of customer funds.
In the end there are only three issues: where is the money, how do we get it back and who goes to jail.
See the following on various aspects of this situation.