Much of what attracted our attention this week were items that have washed ashore here before. Again and again and again. The Dividist simply does not have the arm strength to throw this garbage far enough into the sea to keep it from washing back on our beach. Pity.
ITEM - "Will No One
The Dividist has been covering "The Case Of The Missing Billion." since it was revealed that heretofore sacrosanct legally segregated client funds were apparently tapped to backstop Jon Corzine's ill-advised "bet the company" wagers at MF Global. Little noticed in his testimony to the Agricultural Committee on Wednesday was this tidbit that foreshadows some coming legal attractions, to whit - The Becket Defense. From Huffington Post:
"Lawmakers asked Corzine to lay out how he may have "unintentionally" contributed to the mixing of customer and firm money. He pointed to the chaos of the hours leading up to MF Global's bankruptcy filing on October 31. "Someone could misinterpret 'You gotta fix it,' which I said the evening of October 30th,'" Corzine said."Yes, "You gotta fix it" could easily be misinterpreted to mean something like "Raid the client accounts if you have to, but get me the time to sell this piece of crap before the street figures out we're insolvent." That kind of misunderstanding happens all the time. Consider this innocent off-the-cuff remark by King Henry II, acted on by nearby knights in his employ, and the next thing he knew, through no fault of his own, he learns the Archbishop of Canterbury was lying in a pool of blood. These things happens.