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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 11:51:54 AM
From: locogringo	3 Recommendations Read Replies (2) \| Respond to of 103300

Romney in 2002:........ C'mon kenny_troll...........that's only 10 years ago. How about going back 20 years, or more, and pull out some interesting trash, like you did with the public lynching of Herman Cain. Soros may not send your Holiday bonus of you don't produce a little better. BTW, do you have any idea who the moron is that is giving you recs on this thread?

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 1:50:12 PM
From: locogringo	4 Recommendations Read Replies (1) \| Respond to of 103300

kenny_troll, I think you should take a break for a few days. I can't see how you are going to divert attention from these stories with your old fashioned Politico baloney. Household electricity bills skyrocket Report: Child homelessness up 33% in 3 years Dem lawmaker blasts Obama as arrogant, alienating... GRINCH: Retail sales slow...

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 1:51:53 PM
From: locogringo	4 Recommendations Read Replies (1) \| Respond to of 103300

OMG, kenny_troll how are you going to hide this news? Mebbe talking about Newt will help? Poll: Little love for big gov Americans’ fear of big government - partly fueled by a sharp spike among Democrats since President Barack Obama took office - almost reached a record high this year and is far greater than people’s concerns about big business and big labor, a new Gallup poll Monday shows. Read more: politico.com

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 1:53:04 PM
From: locogringo	4 Recommendations Respond to of 103300

OH NO, kenny_troll.............you had better bring out Sarah Palin to hide this stuff! Romney, Gingrich Beat Obama in 12 Swing States Read more on Newsmax.com: Romney, Gingrich Beat Obama in 12 Swing States I

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 1:56:15 PM
From: locogringo	4 Recommendations Respond to of 103300

I'm so sorry, kenny_troll, but this is actually getting worse. We might never hear from you again! Didja know that the Global Warming BS is based on these same computer models? No wonder your Liberal Marxist press held this for a week! After all the harping about more hurricanes and bigger hurricanes caused, of course, by global warming, we find out that William Gray and Phil Klotzbach, the hurricane forecasters at Colorado State University Department of Atmospheric Science, admit their previous 20 years of forecasting have been a dud and was basically a worthless endeavor. co2insanity.com

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 8:35:47 PM
From: TideGlider	3 Recommendations Read Replies (1) \| Respond to of 103300

OMG Kenneth...it's here too! Message 27822829

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 9:51:10 PM
From: Hope Praytochange	2 Recommendations Respond to of 103300

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 10:48:56 PM
From: Hope Praytochange	Respond to of 103300

CME Head Challenges Corzine's Account in MF Hearing By SCOTT PATTERSON And ANDREW ACKERMAN Getty Images ON THE HOT SEAT: Former CEO Jon S. Corzine, from left, Chief Operating Officer Bradley Abelow and Chief Financial Officer Henri Steenkamp. A CME Group Inc. executive testified at a Senate hearing Tuesday that Jon S. Corzine might have known of an improper shift in customer funds by MF Global Holdings Ltd. before the futures firm filed for bankruptcy protection. CME Group Executive Chairman Terrence Duffy testified that a CME auditor learned of the shift of funds, and of Mr. Corzine's knowledge of the move, from a senior MF Global official during a telephone call before the firm's collapse. CME was a frontline regulator MF Global's operations, including the futures side of the firm that holds customer cash. Mr. Duffy said that he had just learned of the disclosure over the weekend and that the shift of funds the auditor flagged was about $175 million to a European affiliate. CME Group has referred the matter of the transfer to the Justice Department and Commodity Futures Trading Commission, he added. The trustee overseeing the liquidation of MF Global is probing whether any missing funds are located overseas, according to a person familiar with the matter. Mr. Corzine, the former MF Global chief executive, told the Senate Agriculture Committee that he had no knowledge of any inappropriate uses of customer funds until hours before the firm's Oct. 31 bankruptcy. "I never gave any instruction to anyone to misuse customer funds," Mr. Corzine said at the hearing on the collapse of his firm, largely repeating his testimony before a House panel last week. WSJ's Aaron Lucchetti stops by Mean Street to discuss former MF Global CEO Jon Corzine's testimony in the U.S. Senate. (Photo: Getty Images) Mr. Duffy's testimony, which came after Mr. Corzine's, potentially puts Mr. Corzine closer to a shift of customer funds that has been the subject of wide speculation for more than a month since MF Global filed for bankruptcy protection. While the shift of the $175 million may yet be shown to have been a legitimate use of customer funds, it is likely to put more heat on Mr. Corzine, who is scheduled to testify again Thursday before a House subcommittee. Enlarge Image Close Bloomberg News Dean Tofteland, a farmer from Luverne, Minn., testified at a Senate Agriculture Committee hearing Tuesday. Earlier MF Global Collapse Felt in Farm Country Mr. Duffy declined to publicly name the MF Global official who said Mr. Corzine was aware that the firm had tapped customer funds. He said it appears that customers' futures accounts, which are supposed to be segregated from the firm's accounts, are short by about $950 million in total. Through a lawyer, Mr. Corzine declined to comment. Separately, other new details emerged Tuesday showing that MF Global allegedly moved customer funds on a larger scale than previously reported. It now appears that the firm tapped funds on the securities side of the business in the days leading to its bankruptcy filing, according to a person familiar with the matter. The moves appear to have resulted in a shortfall in customer funds in the firm's securities accounts, the person said. While it has previously been reported that customers' futures accounts were short hundreds of millions of dollars, it wasn't known that MF Global had also tapped customer assets from its smaller securities accounts. Mr. Corzine's testimony that he didn't know what had become of the customer funds was echoed at Tuesday's hearing by two executives at the failed firm, Chief Operating Officer Bradley Abelow and Chief Financial Officer Henri Steenkamp. Messrs. Abelow and Steenkamp declined to speculate on where the money went despite persistent questioning from senators. Ex-CEO Jon Corzine answers questions from a Senate committee about MF Global's misuse of customer funds. Six weeks after the firm's collapse, lawmakers expressed frustration that it has taken so long to determine the location of the missing funds, estimated at more than $1.2 billion. The figure includes futures, securities and overseas customer accounts. Mr. Corzine has said that he still hopes that the customer money will be found. European Pressphoto Agency Jon Corzine, testifying Tuesday, says he didn't authorize the misuse of customer funds. "This isn't the Dark Ages," said Sen. Debbie Stabenow (D., Mich.), chairman of the committee. "MF Global didn't keep their books with feather quills and dusty ledgers." At one point in the hearing, Sen. Pat Roberts (R., Kan.) said facetiously that maybe a janitor would know the location of the missing cash, after the executives said they couldn't recall certain details about the firm's reporting structure. Lawmakers began turning the spotlight to lower-ranking executives, with Sen. Stabenow saying the committee is talking to back-office personnel about what happened. Sen. Roberts also pressed the executives on the existence of a "break-the-glass" document that called for the firm to tap customer accounts as a last resort to prevent its collapse. Mr. Corzine said that while there were contingency plans, they didn't recommend using customer funds. Mr. Abelow confirmed that a document existed laying out what would happen if the company lost liquidity, but he suggested it was only a draft. Many farmers and ranchers hit by MF Global's collapse used futures transactions to hedge their output. When MF Global collapsed, the revelation that a large sum of customer money was missing from accounts that were supposed to have been untouched by the firm prompted calls for industry overhauls. Customer assets in the U.S. futures business are protected by a regime known as "segregation," in which client money is pooled and held in an account separate from a clearing firm's own funds. The futures industry doesn't maintain an insurance-like shield, as the securities industry does with the Securities Investor Protection Corp. "Funds don't simply disappear," Sen. Roberts said.

To: Kenneth E. Phillipps who wrote (61962)	12/13/2011 10:52:18 PM
From: Hope Praytochange	Read Replies (1) \| Respond to of 103300

Jon Corzine Knew About Missing Money, Claims Senate Witness By Joe Coscarelli Corzine. Ex-senator and former MF Global CEO Jon Corzine appeared before a congressional panel again today and failed to answer for the bankrupt firm's missing customer funds, continuing instead to stress that he has no idea where the money could be. "I never gave any instructions to misuse customer money, never intended to give any instructions or authority to misuse customer funds, and I find it very hard to understand how any one could misconstrue what I've said as a way to misuse customer money," said Corzine, clarifying his comments from last week. To say more, Corzine claimed, "I'd be completely out on a limb speculating. I literally would have to go back through thousands of pages." But Terrence Duffy, the chief executive of the CME Group, which is responsible for regulating MF Global, leveled a huge accusation, claiming that Corzine did in fact know about the missing funds. Duffy told the panel this afternoon that he learned about the impropriety only after his testimony last week. "Somebody went in and violated the rules of the CME and the rules of the government," Duffy said, but did not provide more detail about Corzine's role in the $175 million loan transfer to MF Global's European affiliates, which seems to have illegally included some client funds. Needless to say, if that's true, Corzine could be in huge trouble. MF Global's CFO also insisted he did not know where the money is, to which Senator Debbie Stabenow snapped, "This isn't the Dark Ages. MF Global didn't keep their books with feather quills and dusty ledgers." That would only just begin to explain this $1.2 billion mistake.