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Jon Corzine Gets Creative

Thursday Dec 1, 2011

MF Global proved it ain't over till its over, at least in terms of beating the FASB at its own game. 

Frankly I had a hard time following this one. 

And, if SARBOX required CEOs and CFOs to sign off on the statements, why isn't Corzine being prosecuted over this?

As you will read, MF Global moved lots of money off its balance sheet on some harum scarum idea that the maturity of the loan matched the maturity of the leveraged securities, bingo we don't own them. 

Any body seen Corzine lately?

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2 responses to “Jon Corzine Gets Creative”

  1. Luis Martinez Avatar
    Luis Martinez

    The Associated Press reported today that Corzine is being subpeona’d by a Congressional committee. The whole situation stinks. Corzine is scum and MF Global was at best irresponsible in hiring him as their CEO. Sadly, there are so many of these types of people in positions of authority and public trust. And their actions are brazen and indifferent.

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  2. Phillip Garcia Avatar
    Phillip Garcia

    I believe that the accounting methods of grammar (words) are too confusing and sometime can be misleading investors and the public and that is why there are forensic accountants who investigate unethical people, like Mr. Corzine.
    Mr. Corzine is an unethical character and has tried to hide his fraudulent transactions by using accounting words to confuse investors. The article statement that $1.2 billion dollars are missing from the investor accounts and it is believe that the “money is mingled with the firm’s own funds.” The only way to solve this problem is have a 3rd and 4th outside auditing firms checking the company books. The regulations of SARBOX is not working, the accounting world is like the Wild Wild West with not enough Sheriffs.

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