So, Jon Corzine, Where’s That $633 Million?

Posted by on Nov 13, 2011 at 9:14 am

Has anyone checked the Obama campaign treasury for a sudden influx of money? Heck, he’s making money hand over fist from all those green scams he’s been pulling and Jon Corzine is his top fundraiser.

Obama pledged he’d be running a billion-dollar re-election campaign and $633 million would sure go a long way toward meeting that goal.

The $633 million in missing client funds from Jon Corzine’s now-bankrupt firm MF Global appears to be a result of a “massive hide-and-seek ploy,” a US Commodity Futures Trading commissioner said yesterday.

“This isn’t just a lost-and-found inquiry; it’s a full-on effort to get to the bottom of what appears to be a massive hide-and-seek ploy,” said CFTC commissioner Bart Chilton said in disclosing the MF investigation.

“It’s a distinct possibility, some would say probability, that somebody has done something with the money, and that it’s not going to be ‘all of a sudden discovered’ with an innocent explanation,” Chilton wrote. “If that’s the case, it’s patently illegal. I don’t know yet. Our investigation will uncover that, and we’re aggressively pursuing this.

By the way, can someone please explain why Corzine received special treatment when it came to taking broker exams?

After he was defeated for re-election in 2009 by current New Jersey Gov. Chris Christie, Mr. Corzine joined MF Global. Finra says on its website that investment professionals must retake exams after being out of the business for more than two years. was the first to report in a blog post last week that Mr. Corzine received the Finra waivers.

One compliance consultant speculated that Mr. Corzine used his Finra connections to obtain his waivers. He had served on the board of NASD, which later became Finra.

“It can only be surmised that due to his former position on the board of governors, he was able to pull strings not available to the rest of us,” said Brian Hamburger, managing director of MarketCounsel.

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