...Team Obama has returned Corzine’s donations — but it’s still more than happy to pocket any and all cash he brings in from his friends.
Sen. Jon Tester (D-Mont.) has said “people need to go to jail” over MF Global’s collapse — but to date, no one’s even been charged.
Indeed, a new PBS documentary reports that Corzine personally lobbied regulators not to ban a strategy that allowed his firm to borrow money from customer accounts to fund trading elsewhere.
That strategy, “internal repo,” was critical to Corzine’s betting the MF farm on risky European debt.
It also appears that MF Global illegally commingled company and client funds to pay off financial obligations.
Yet Corzine is not considered a vulture.
Nor are those top execs at Mitt Romney’s old firm, Bain Capital, who’ve been pouring money into the Obama campaign and the Democratic National Committee.
Bain itself, of course, is the prime focus of Obama’s wrath these days, with campaign ads ripping the firm as “vulture capitalists.”
Obama is facing mounting criticism from — surprise — his fellow Democrats over these attack ads.
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Corzine should be an embarrassment for Democrats if they were capable of that concept. Using customer funds to cover a brokers positions should be prohibited. They are supposed to segregated.
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