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HomeSense on Cents Poll: Is Jon Corzine Guilty?
Posted by Larry Doyle on November 15th, 2012 8:11 AM |
I have received endless requests from readers to continue to address the debacle that is MF Global and Jon Corzine. I have also received inquiries from friends and former colleagues on the street wondering why I persist in drilling Mr. Corzine whom they indicate is actually a pretty good guy.
To those in both camps, please allow me to state that the demise of MF Global reaches far beyond one man. I think of the countless numbers of farmers who at this very minute continue to suffer from the consequences of the actions that played out at MF Global. Beyond those individuals, I think about the truth, that prized virtue which remains under attack each and everyday in our once great nation. (more…)
MF Global: “This Was a Massive Theft”
Posted by Larry Doyle on April 30th, 2012 7:56 AM |
Six months and counting.
The lives of countless numbers of families and individuals are likely forever changed by what transpired at MF Global. Yet there remains no real accounting nor full retribution for the fiasco which unfolded within the walls of the firm that traced its roots to the late 1700s.
Certainly we can expect that trustees and regulators will put forth some thousand page reports trying to detail the minute by minute demise of MF Global. Do you think those reports will mean anything to the lives of the people impacted? I don’t. Why? How do you recapture trust? When there is NO real trust, there is NO real justice, and NO real closure. It is that simple. (more…)
Is Jon Corzine “Too Big to Be Indicted”? Part V
Posted by Larry Doyle on December 14th, 2011 7:13 AM |
Do you think it is believable that a financial firm’s CEO, CFO, and COO could all be ignorant in knowing where and how a billion dollars of customer funds may have gone?
You don’t? Neither do I, although if we were to take these aforementioned individuals’ statements to that effect on face value, we would be led to believe that the downfall and demise of MF Global was somehow just one big mistake.
I hope and trust that Americans are not so naive, and that our Congressional leaders will be appropriately rigorous in pursuing and unearthing the truth in this investigation.
To this end, I had previously suggested those investigating the MF Global bankruptcy should engage noted financial sleuth Harry Markopolos. Whom else might we want to listen to? (more…)
Is Jon Corzine “Too Big to Be Indicted”? Part III
Posted by Larry Doyle on November 22nd, 2011 4:29 PM |
This commentary runs a little long, but I exhort you to read it in its entirety as it captures the sentiments of readers who are extremely close to or actually “in the MF arena.” Their messages are filled with real pain and anguish which is not found in the media. This is reality. I hope you will want to share this post with your friends. LD
As if $600 million in missing customer funds were not enough, recent news emanating from the debacle that defines the bankruptcy of MF Global puts the estimated misappropriation of customer funds at a cool $1.2 billion. Yes, billion with a B!
Those involved in the markets would easily ascertain that those manning the MF Global ship redirected these customer funds in an attempt to save the ship as it was going down. The customers themselves remain in a state of shock and bewilderment as to how this reality might ever have come to pass.
Meanwhile, the outrage in America burns while the lack of trust and confidence in the markets, the market makers, and those charged with protecting investors grows stronger by the day.
You don’t believe me? Read on and chew on these messages I recently received from people “in the arena”: (more…)
Is Jon Corzine “Too Big To Be Indicted”?
Posted by Larry Doyle on November 7th, 2011 7:16 AM |
Any manger—let alone a chief executive officer—worth his salt should be laser focused on protecting the interests of his constituents, including shareholders, creditors, and employees.
Jon Corzine is not worth his salt or much of anything else these days as he protected none of his constituents.
While Jon Corzine may have fancied himself as a titan in both political and financial circles, the simple fact is the demise of the once renowned firm MF Global on his watch, relegates Corzine to the rubble with other outsized egos humbled and humiliated by Mr. Market. (more…)
