A major story hit the news 2 days ago that barely saw the light of day in the high-profile mainstream media. The story was about the investment firm MF Global and its CEO, who is a crony of Barack Obama and Democrats in Congress. Jon Corzine, former Democratic U.S. Senator from New Jersey and former Governor of the state, had been the CEO of the Wall Street firm until Friday. 2 days before, on Wednesday, it was reported that Corzine had 'lost' over 600 million dollars in investors' money betting on European debt. By Thursday that figure was correctly set at 1.5 billion.
On Friday Corzine resigned. Some investors believe the money was stolen.
In the aftermath of the fiasco, MF Global is now the subject of an investigation. Regulators suspect there was 'insider trading.'
Corzine is a former head of the Wall Street firm Goldman-Sachs, the entity from which Barack Obama has tapped many of his top economic advisers, including Treasury Secretary Timothy Geithner, Larry Summers, Robert Rubin, Alice Rivlin, Steve Rattner, Mark Patterson, Anne Fudge, David Lipton, and Michael Frohman, among others.
Goldman-Sachs was also one of the top contributors to the 2008 Obama Presidential campaign, giving over a million dollars to Obama's presidential bid. Only the University of California gave more money to the Obama campaign.
According to Ann Barnhardt of Barnhardt Capital Management, Inc., it was painful having to tell her clients that the money they invested with Corzine at MF Global was gone...
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