Media Runs Defense For Corzine After MF Global Revelation
Email: Corzine directly ordered transfer of stolen customer funds
Paul Joseph Watson
Monday, March 26, 2012
The media has predictably leapt to former MF Global head John Corzine’s defense following the revelation that $200 million dollars in customer funds was stolen, “per JC’s direct instructions,” by regurgitating the talking point that Corzine was unaware of the fact that the money was taken from clients.
A memo released by the House Financial Services subcommittee contradicts Corzine’s claim, made under oath before Congress, in which the former New Jersey governor claimed, “I did not instruct anyone to lend customer funds to anyone.”
$200 million dollars in customer funds, part of a $1.6 billion in client money that disappeared, was sent to MF Global’s account with JP Morgan by direct order of Corzine, the email reveals.
“The memo released Friday details an email by Edith O’Brien, an assistant treasurer at MF Global, saying the transfer last October 28 “per JC’s direct instructions” would cover an overdraft in the London account of JPMorgan Chase. “JC” stood for Corzine,” reports Politico.
The fact that the email proves Corzine lied under oath, as well as violating securities law, was almost instantaneously met with an aggressive establishment media effort to defend Corzine, with both the New York Times and Time Magazine claiming Corzine did not know the money was from customer accounts and that the O’Brien email “was not a smoking gun”.
To claim that an internal MF Global email which directly implicates Corzine as the instigator behind a transparent attempt to steal customer funds is “not a smoking gun” is a manifestly ludicrous assertion to make.