Corzine Testimony Shocker! Has Anything Changed on Wall Street?

He pocket it in overseas accounts. Like most rich people do. They know better then to deposit those funds in US banks. The 1% maybe getting ready for the when the system and wall st completely break down right after the eruo goes down.

sentenced to 25 years of hard Tennis........

B. Madoff

seen these things happened again and again, maybe more. But the things are the same, never change.

I know nutheeng, I see nutheeng, Corzine employs the Sgt Schulz defense from Hogan's Heroes. Can anyone explain why Corzine is not banned from the security industry for life yet? And why haven't the board members been prosecuted? Apparently they paid their CEO millions of dollars yet the man couldn't be qualified because he doesn't know anything and didnt intend anything. Clearly that was a failure in fiduciary responsibility. Course there's little left for the lawyers so they'll all go on merrily down the stream.

Big surprise, A corrupt, greedy, thieving Demonrat side stepping responsibility! Dims reaaallllly seem to care about the little guy, I'm sure he'll work tirelessly to get everyone their money back! Unless of course the missing money went int Obama's campaign fund. Just remember the Dims are honest, giving, caring, altruistic public servent who only care about the little guy, don't forget....you better have some more of this Kool-Aid, just in case. Demonrats are evil!!!!!!

"I do not know where the money is"...Really? Corzine might be well advised to order his three-piece suits with bullet-proof vests. Some of his victims may not be as charitable as his cronies in Congess.

Hey everyone, you don't want regulation or oversight....this is the result - Caveat Emptor...A fool and his money is soon parted.

Republicans watered down Dodd Frank-all of this is still the Bush legacy- this is your Deregulation, no oversight, no daylight - am hoping most of the Republicans get kicked out in 2012 - let the Dems try and put things back in place and for those who don't want any part of the safety net, Social Security and Medicare, I say 'opt out', you want to be on your own, go ahead, do what you want - meanwhile we need to get the Middle Class back to work and repeal the tax incentives for companies taking their jobs overseas - get some manufacturing back - it was the Middle Class that fired up the economy for the past 50 years....for those investors who got into MF Global, you thought you were going to make a killing...well now, how do you feel about Regulation!

If this lying thief gets away with it, or if Obama pardons him after he is convicted, I will give up what faith I have in this country. I am still hoping desparately that voting out the Tea Party, who let Norquist do their thinking and voting, and anyone else who has a hint of self interest will start a reform of our corrupt government. Public office shouldn't be an unregulated and unpoliced opportunity for getting richer at the public expense. It is scary to be part of the majority who don't know how to join 'em or effectively fight em. Sad.

How come Garret Bauer (44 years old - Google this one) faces up to 55 years in prison & millions in fines for only a $109 million insider trading scheme & the big boys of greed & corruption get slapped with petty stuff via the likes of Rajaratnam & Madoff? If the cards get dealt then make sure they are dealt fairly. $1.6 billion should mean a lot more the 25 years hard time for Corzine……..like @ 800 years or see how long he can hold his breath!

I'll bet his matress is suddenly three feet thick.

What's the big deal? The taxpayer suffered $$Trillions$$ in losses and Obama gets to run for reelection.

Obama will pardon him because half of the missing money is in Corzine's account in the Cayman Islands, the other half is now in Obama's campaign chest.

Small frauds happen regularly. Look at PMGEP.PK for an example of executives and trustees taking $100,000,000 of investors' money in 2006 and reducing it to $11,000,000 today. These figures are based on the IPO for the preferred shares and the tender offer by Five Mile Capital Partners. (Shares were sold at $25 with a $25 liquidation preference and 9% dividend promised. Dividends were suspended three years ago.) The money has been diverted to the pockets of the company CEO, general counsel and other executives as well as pre-paid legal fees for five years. The executives with the complicity of the the trustees and lawyers diverted money to a "secular" fund to keep their salaries and bonuses out of sight. Misleading/limited information was provided to Duff and Phelps to justify the low value.
The company was delisted from NYSE ostensibly to save money but effectively to evade scrutiny.
The shareholders are farflung and diverse - soldiers, 87 year old grandmother, retireees, hedge fund- without resources to pursue legal remedies. The company has prepaid $5,000,000 in legal fees to Winston and Strawn so they standby to subvert the shareholders' will.
Just another day on Wall Street!

these hearing are a waste of time. No taxpayer money is involved. This is simple another way for congressman to pontificate. If there is criminal activity let the agnecies do their job. The biggest waste of money are the hearing themselves. We are paying a high price for the hot air of government

As long as BHO holds the Executive Fiat Pardon Pen, his best buddy and top Wall Street Fund Raiser, Jon Corzine, will not spend one day in the "Booty House." Surprised that Rezka is already there, and Blago is on his way. Any bets as to who makes the top of the Executive Pardon Christmas List?

Jon Corzine: Building his Presidential Resume, one looting liberal failure at a time. Priceless!!!!!

Yahoo Nazi's again sweeping comments. What's the matter, don't believe in the First Amendment, or did Corzine pay you off too?

Obama admin is citing lame excuses as usual to protect cronies.

strange how AG Holder is quiet suddenly, huh?...OOPS he and Obama are buddies....Put Corzine in Ft Levinworth for 30 years without parole.