Obama has returned some of the money Corzine has donated personally, but not the cash Corzine collected from others for the presidential re-election campaign — meaning the taint from the MF collapse isn’t bad enough to stop Obama from accepting the money Corzine brings in.
Still, it would be pretty bad if a top presidential fund-raiser were implicated in the loss of more than a billion dollars of investor money. Many victims here were regular people — ranchers and farmers who used the firm to hedge their crops and livestock in the commodities market.
Again, the probers no doubt want to do the right thing, but the heads of the investigative agencies can hardly be described as impartial. Many are presidential appointees or at least have a vested interest in helping Obama avoid a major embarrassment.
The publicity hungry and hyper-ambitious Preet Bharara, the US attorney for the Southern District, as well as the heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission, are all longtime Democrats.
Some, like Bharara, are fairly partisan Democrats looking for bigger future jobs. They have much to gain if the investigation doesn’t blow up before Election Day — so it’s pretty convenient that they keep hitting what we’re told are dead ends.
Bharara is rumored to be on the short list of possible successors to Attorney General Eric Holder in a second Obama term, as is FBI chief Robert Mueller.