
I'll be putting up a new template over the next day or two, and things are going to look pretty messy around here in the meantime.
"... let us express our complete and unqualified contempt for the city’s system of ranked choice voting and taxpayer financing of campaigns – to the current (already spent and still climbing to the highest mountain peak) whistle of over 14 million dollars of taxpayer financial underwriting by a bone-broke city of candidates campaigns. Many of them had no business running in the first place – but the city’s idiotic law makes it impossible for them to drop out of the rat race because if they do the practical thing and drop out of a race they know they have no chance of winning, the prudent candidate is has to pay the city back for the taxpayer money received, which most of them can’t afford to do. But if they wait and stay in the race and go ahead and lose as everyone in town including the candidate him (or her) self knows they will. Just how stupid is that? Very."
“You cannot come to me, asking me ‘Hey! Why don’t you pump money in this kind of… projects, or investing the banks that are in trouble… we are in trouble, and our two countries are friendly, so why don’t you come in?’, this is actually in stark contrast to the requirement imposed on our sovereign wealth fund”, “the recipient countries should treat sovereign wealth funds fairly… as any other financial investors…”
Is Jon Corzine going to jail?
By Dan Primack November 2, 2011: 2:57 PM ET
This may just be the beginning of Jon Corzine's troubles.
Jon Corzine is unlikely to ever again work in finance, after overseeing this week's collapse of brokerage MF Global. But he may have much bigger things to worry about. Like going to jail.
Federal officials reportedly say that MF Global (MFGLQ) has admitted to transferring hundreds of millions of dollars of client money into company accounts, perhaps to cover investment losses. This is on top of Craig Donohue, CEO of the Chicago Mercantile Exchange, saying that MF Global wasn't "in compliance" with the CMOE's cash management regulations.
"The first thing you learn on the first day of your first financial job is that client money is not to be mixed with corporate money," says a source familiar with MF Global. "Nobody could have done this by accident."...
"If this was a former Republican senator and governor, the press would be all over it," argues a GOP-affiliated investment professional. "They'd be talking about how it is emblematic of corruption on Wall Street. But because it's a Democrat, everyone keeps focusing on bad investments rather than the possibility of fraud."
I wonder if Corzine's retention bonus and the bond interest kicker will be invoked if it turns out that Corzine's federal employment is working in the laundry of a Federal Prison?"The futures broker sold $325 million of five-year unsecured notes, the company said today in a statement. The notes will pay an extra percentage point of interest if Corzine is named to a federal post and confirmed by the Senate before July 2013, New York-based MF Global said yesterday in a regulatory filing.
“That seems crazy,” said William Larkin, a fixed-income portfolio manager who oversees $500 million at Cabot Money Management Inc. in Salem, Massachusetts, and has 22 years of experience. “I’ve never heard of something like this.”...
A Democrat, Corzine is among the biggest fundraisers for President Barack Obama’s 2012 re-election campaign. He has been the subject of speculation about administration jobs such as Treasury secretary or White House economic adviser, said Christopher Allen, an analyst at Evercore Partners Inc. in New York...
Corzine’s employment contract is written with a view to future government service. It stipulates that he’ll be paid his $1.5 million retention bonus on a pro rata basis if he leaves to work for any “U.S. federal, state or local government” before March 31, 2014."
"OAKLAND, Calif. — A week after police in riot gear rousted and then tear-gassed Occupy Oakland protesters, supporters of the movement have rebuilt their encampment in front of City Hall and are calling for a general strike on Wednesday that will include an attempt to shut down the nation’s fifth-busiest shipping port. “We call for a general strike around the country, and around the world, because we know that the wealth of the 1 percent is produced by the work of the 99 percent,” said Louise Michel, one of the protest organizers, at a news conference."