Above the law

Hagmann P.I.
November 17, 2011
Above the law

By Douglas J. Hagmann

Following the American Civil War, Jesse James earned the reputation of being a notorious bank robber and criminal gang member in the United States. It is also important to note that the public opinion of Jesse James was swayed by the print media of the day, which turned Jesse James the outlaw into a symbol of confederacy defiance of the reconstruction of the South. His innocence was proclaimed and his reputation romanticized by the founding editor of the Kansas City Times, John Newman Edwards, who wrote prolifically about James for a political cause.

Nearly a century-and-a-half later, the looting of people’s money is no longer done with a gun and a scarf. It is accomplished openly by individuals given the means and opportunity by virtue of their position in the financial sector. Additionally, the looters appear to be well above the law, as those who regulate and prosecute have been co-opted by the merger of state and corporate powers. And the media, much like John Newman Edwards composites, are facilitating the financial terrorism of today through their selective reporting and protection of political and corporate interests.

One has to look no further than MF Global and Jon Corzine to understand what is taking place, en masse, in the U.S. and globally.

Criminal charges… anyone?

Based on my experience as an investigator in the private sector for the last 26 years and my research and investigation into the MF Global debacle, MF Global and Jon Corzine could serve as textbook examples of the financial terrorism that is taking place today on wholesale levels, openly, and without shame. It is the looting of the so-called “99 percent,” except it is done through complex transactions that could keep teams of forensic accountants and an unsullied justice department, if we had one, busy for a long time. It is this type of financial terrorism, obfuscated by an unnecessarily complex lexicon of financial terms, that is at the core of a global monetary takeover by the “one percent.” It is this type of financial terrorism that will propel our justice department and the Department of Homeland Security to impose financial martial law on the citizens of the United States. It is a globalist’s dream and an American nightmare, and the nightmare will not end until the masses are awakened from their slumber.

How it began

MF Global was a large financial derivative broker that had its origins in eighteenth-century England. After multiple corporate splits and changes, MF Global became autonomous in 2007. They achieved the much coveted “primary dealer” status while under the leadership of former Goldman Sachs CEO, former New Jersey Governor, and United States Senator Jon Corzine. The status of primary dealer allowed the company to trade directly with the Federal Reserve and underwrite and distribute financial instruments of the U.S. Treasury.

After failing to be reelected as New Jersey governor, Jon Corzine was appointed as Chairman and CEO of MF Global on March 23, 2010. In that capacity, Corzine reportedly invested heavily in the European derivatives market, leveraging investors’ money at a ratio of 40-to-1. In other words, Corzine allegedly invested forty dollars for every one dollar of investors’ money in what could be described as a global casino.

It is both relevant and important to point out that this activity was done under the watchful eye of the agency that is supposed to regulate MF Global and other such companies, the Commodities Futures Trading Commission (CFTC). The CFTC is headed by Gary Gensler, a former partner at Goldman Sachs during Corzine’s leadership, a former Undersecretary of the U.S. Treasury, and a former senior advisor to both Hillary Rodham Clinton and Barack Hussein Obama. Gensler was appointed to his position at the CFTC by Obama in May 2009. Gensler also contributed to Jon Corzine’s campaign and was a senate aide during Corzine’s tenure as a senator.

The beginning of the end

As the European markets descended into chaos, so did the investments made by Corzine at MF Global. As a result, MF Global filed for bankruptcy protection earlier this month. It was then discovered that $630 million of investors’ money was “missing.”

It is alleged by some that at some point, at least $600 million in investors’ money was illegally co-mingled with MF Global funds at the direction of Corzine to “hedge” his bets and subsequent losses. The disposition of over $600 million of money belonging to others remains a “mystery” and is being investigated by none other than Gary Gensler, of course.

It should be noted that before the dust settled on the MF Global implosion, Corzine resigned as CEO on November 4, 2011, but only after having retained the services of the high-profile, white-collar crime defense attorney Andrew J. Levander.

While the above is an admittedly simplified illustration of the events surrounding MF Global and Jon Corzine, it is an essentially accurate illustration.

Where’s the justice?

While it might be premature to call for the “head” of Jon Corzine, it is not unreasonable to demand an immediate and public investigation by the U.S. Department of Justice and other pertinent federal regulatory agencies. Of course, Gensler should recuse himself based on his close relationship with Corzine, and a suitable replacement should be appointed.

Additionally, the U.S. Department of Justice and the U.S. Department of the Treasury, through their FinCEN unit, should immediately begin independent investigations of not only MF Global and Corzine but members of congress who have profited from numerous financial transactions over the last three years with all Wall Street agencies.

So far, the U.S. Justice Department and the U.S. Department of the Treasury have been MIA in investigating any financial crimes on Wall Street. Obviously, it would not likely be in Treasury Secretary Tim Geitner’s best interests to do so, considering his incestuous involvement with Goldman Sachs and other corporate houses of perceived corruption.

It is not just unfortunate but reprehensible that the American media has been silent about the financial terrorism that has taken place on Wall Street. It is understandable, though, as any serious investigation would most certainly identify the most elite of the elite, including the bosses and owners of the half-dozen media conglomerates that control the entire U.S. news industry.

Postscript: In a remarkable display of the selective administration of justice, the state of New York proudly announced today the indictment of former Soprano’s actor John Marinacci for his role in an alleged gambling ring. A distinction without a difference, perhaps?

HAGMANN P.I. (Doug Hagmann)
Private Investigator for over 35 years. TV Host, Radio Host and Author.

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