Economy

Demeter

(85,373 posts)

25. Incarcerate Corzine By Eric Fry

Sat Dec 17, 2011, 06:04 AM

Dec 2011

http://dailyreckoning.com/incarcerate-corzine/

CEO’s that “misplace” $1.2 billion of client funds are criminals.

Does Corzine deserve his day in court? Absolutely. Let’s give him several days in court…after which let’s give him several years in jail.

Perhaps there is a legitimate defense for Corzine’s overtly indefensible act. But we pity the poor defense attorney who has to come up with that one. In the heavily regulated, frequently audited and continuously marked-to-market world of broker-dealer operations, $1.2 billion does not simply “go missing”…and if it does, the CEO absolutely, positively knows about it, if he did not directly authorize it himself.

Read more: Incarcerate Corzine http://dailyreckoning.com/incarcerate-corzine/#ixzz1gmxNwVnw

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