atomic_fungus (atomic_fungus) wrote,

#3090: Jon Corzine admits to committing a felony; US gov't does nothing

Market Ticker has the details.

Look: Sarbanes-Oxley is crap law passed by a crap Congress and signed by a crap administration, but it's still the law of the land.

By getting up in front of Congress and telling them under oath that he doesn't know where is the $1.2 billion that MF Global lost, Jon Corzine has effectively admitted to violating Sarbanes-Oxley. That's a federal felony charge, right there, and if he is not indicted, the law is worthless.

Vox Day's $0.02 on the situation.

* * *

Everyone in the world is borrowing dollars, a lot of them, since the interest rate was chopped last week.

The thing I find most disgusting about this is that the fed is getting not less than 0.25% interest for these loans.

What do I get for having my money in the bank?

My savings account has an interest rate of 0.10%. Though my IRA is at 0.35%, so I suppose I shouldn't care, right?

Fuck that just reminded me of all the federal bullshit surrounding IRAs. Now I'm all pissed off again.

I'm with you, Rat!


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