Comments on: Jon Corzine, rogue trader http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: matthewslyman http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-34018 Wed, 14 Dec 2011 07:47:16 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-34018 MacTM19 shared this video on another Reuters story:
http://www.youtube.com/watch?v=xm3VMrKqJ SA
Watch Joe Biden praising Jon Corzine as his mentor on economic stimulus! And just watch Jon Corzine’s body language while Biden feeds his ego! This says all the things Felix Salmon has been describing in his article…

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By: Danny_Black http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-34017 Wed, 14 Dec 2011 07:41:08 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-34017 ErnieD, of course the real issue is proving he did something that is actually illegal as opposed to either stupid or reckless.

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By: ErnieD http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-34007 Tue, 13 Dec 2011 22:43:36 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-34007 The attention to detail in trading will be an interesting legal issue that Corzine will need to deal with, especially with things like the lawsuit by his ex-employees.

I am sure that his typical defence will be that he was not down in the weeds in the company business, didn’t know all of the details of the company finances, can’t recall if anybody ever informed him of how his own trades were being financed, etc.

Showing a Type AAA personality focusing on many details including the details required to have successful major trading positions could be devestating to his defence, certainly opening up a gross negligence issue if he was shirking his actual required CEO duties in order to play trader.

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By: cyenwong http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33981 Tue, 13 Dec 2011 05:50:34 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33981 mlknows,
are you related to JSC?

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By: w.burton http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33979 Tue, 13 Dec 2011 02:37:09 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33979 How do you get rich? It’s simple: you STEAL using every tool available.

Is there any hope at all that this guy will go to jail? Nah… “it was all legal” says Obama.

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By: Christofurio http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33977 Tue, 13 Dec 2011 01:58:25 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33977 mlknows,

You’re joking, right?

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By: moneyboy22 http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33975 Tue, 13 Dec 2011 01:48:28 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33975 This Ex Gov. is as Dirty as Gorden Gecko….stop buying his Story..cause he was the CEO…save your story for your jail friend Bernie Madoff… Bernie knows your tricks….you play us all as stupid…

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By: mlknows http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33972 Tue, 13 Dec 2011 01:21:13 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33972 Hi
You should all just leave Jon alone. I am sure he was trying to do his best and the market chose to turn against him.
How unfortunate for Mr Corzine.
Have some empathy and compassion.

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By: RMoS http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33971 Tue, 13 Dec 2011 00:52:40 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33971 How in the world did FINRA, CFTC, and the SEC miss the idea that repo-to-maturity represents risk, instead of a “sale?” Sen. Conrad is absolutely right when he says this is a hole big enough to accomodate a Mack truck.

FINRA may be in the pockets of the big brokerage firms (one can argue about that), but where the heck was the SEC, and especially the CFTC?

Markets are “self-regulating?” Yeah, right. Even regulators are not (it seems) “self-regulating.”

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By: northforkinv http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/comment-page-1/#comment-33968 Tue, 13 Dec 2011 00:30:34 +0000 http://blogs.reuters.com/felix-salmon/?p=11465#comment-33968 don’t forget Hank Paulson had him booted out of Goldman co-CEO slot for trying singlehandedly to have that firm buy the sinking positions of John Meriweather’s hedge fund Long-Term Capital Management. All those broker trading desk guys like Meriweather and Corzine think the way to make money is to always average down.

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