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Jon Corzine, MF Global Enjoyed Tryst with Washington & Credit Rating Agencies, Who Learned Nothing from the Great Recession
Jon Corzine, MF Global’s CEO, loved to take the biggest gambles he could find with other people’s money. He championed investing MF Global’s money and allegedly their client’s money in European bonds with purchases large enough to bankrupt the firm six times over if a single bet failed! The board at MF Global Holdings Ltd [… Read More]
Stock Market Euphoric Over Ongoing Recovery from Great Recession; Credit Ratings Indicate Ongoing Crash into Great Depression. Which is it?
Today’s news gave rise to outspoken hopes that the Great Recession is ending … again. This seems to have the whole world excited, except me. The stock market is soaring this morning as the U.S. Federal Reserve and the European Central Bank announced an agreement to loan U.S. money to European banks at lower rates. Jobs [… Read More]