About a billion dollars in client’s segregrated funds disappeared at MF Global, lost in its own unprofitable proprietary trading, and the United States Federal government has determined that no fraud was involved, Zero Hedge reports: Jon Corzine Will Not Only Not Face Prosecution, But May Be Launching A Hedge Fund Imminently.
Of course, these are the same folks who charged RBC, a Canadian bank, with an illegal trading scheme. Don’t bother going after the real crooks, attack a foreign bank. The crony capitalism in the United States has now reached proportions that have vastly exceeded the wildest dreams of tinpot dictators in Africa. It is a coalition of the corrupt banksters, elected politicians and the civil service of the United States government. It is no mere coincidence that Jon Corzine is an important political ally of President Barack Obama.