Seriously, You’re a CEO and You Don’t Know Where That Billion Dollars Went?

Standup comic Jon S. Corzine, former CEO of MF Global testified yesterday before a House Committee investigating the scandal surrounding the collapse of the company which declared bankruptcy and announced that over $1 billion in customer accounts was missing. Corzine’s testimony wold have you believe that he had no idea where any  of that money went and had no access to documents that could tell him where to find it.http://dealbook.nytimes.com/2011/12/09/corzines-testimony-came-with-plenty-of-caveats/ http://money.cnn.com/video/news/2011/12/08/n_mf_global_corzine_testimony.cnnmoney/ and http://www.huffingtonpost.com/2011/12/09/jon-corzine-testimony_n_1138633.html

Corzine apologized but tiptoed and did the lowest limbo in American history to evade taking responsibility along with his millionaire friends for replacing the stolen loot. I believe that the former offices of MF Global (What a perfect name) should be cordoned off and investigated as a crime scene. Prosecutors should be empowered to investigate  any and all leads to uncover the nature of this fraud. They should have the subpena power and other means available to freeze assets, obtain documents and seek indictments.

The criminals behind this billion dollar fraud need to be serving prison time alongside Bernie Madoff while teaching literacy classes to uneducated criminals. There needs to be a new beginning to demonstrate that being soft on crime means ignoring the multimillionaire criminals and that era has passed. Otherwise, the next Corzine will tell us about tens of billions being lost without anyone being held responsible. As Vice President Biden would say, “this is a big fucking deal.”

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