All posts in Corruption

MF GLOBAL EXEC: CORZINE ORDERED $200M TRANSFER OF CUSTOMER FUNDS

(AP) MF Global exec says Corzine ordered $200M transfer
A former MF Global executive appears to contradict testimony from Jon Corzine, saying the former senator and New Jersey governor ordered the transfer of $200 million last fall out of a customer account days before the brokerage firm collapsed, according to an email obtained by congressional investigators.Edith O’Brien, MF Global’s former assistant treasurer, says Corzine ordered the money shifted to one of the firm’s bank accounts overseas on Oct. 28 to cover an overdraft, according to a memo that cited the email.The email noted that the transfer was made “per JC’s direct instructions.”

MF Global filed for bankruptcy protection on Oct. 31. The firm failed because of a disastrous bet on European debt. About $1.6 billion of customers’ money hasn’t been recovered.

A House Financial Services subcommittee released the memo Friday in advance of a hearing Wednesday. O’Brien has been subpoenaed to testify. The Associated Press was unable to reach her for comment.

In December, Corzine told the panel at a hearing: “I did not instruct anyone to lend customer funds to MF Global or any of its affiliates.” Corzine also told the subcommittee he didn’t know about “the use of customer funds on any loan or transfer.”

And Corzine told a Senate panel two days earlier: “I never gave any instruction to anyone at MF Global to misuse customer funds.”

Steven Goldberg, a spokesman for Corzine, reiterated in a statement Friday that Corzine testified that there wasn’t anything he had said that “could reasonably have been interpreted as an instruction to misuse customer funds. He stands by that testimony.”

“He never directed Ms. O’Brien or anyone else regarding which account should be used to cure the overdrafts, and he never directed that customer funds should be used for that purpose,” Goldberg said. “Nor was he informed that customer funds had been used for that purpose. To the contrary, as Mr. Corzine testified, he recalls having received written material indicating that the funds used to cure the overdrafts were appropriate for that purpose.”

Client money is required by law to be held separately from a brokerage firm’s cash in order to protect investors in case a firm fails. If MF Global misused client money, it would violate a fundamental investor protection for people who trade options and futures.

Many lawmakers have heard from farmers, ranchers and small business owners in their states who are missing money that was deposited with the firm. Agricultural businesses use brokerage firms like MF Global to help reduce their risks in an industry vulnerable to swings in oil, corn and other commodity prices.

Corzine, a former New Jersey governor and U.S. senator from the state, led MF Global until early November. He testified before three congressional panels in December. He said he didn’t become aware of the shortfall in customer money until hours before MF Global’s bankruptcy filing.

No one has been charged in the MF Global case. In addition to Congress, federal regulators and a federal grand jury in Chicago are investigating.

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OCCUPY MASTERMIND STEPHEN LERNER REVEALS NEXT STEPS: STUDENT LOAN STRIKES & CRASH SHAREHOLDER MTGS

Stephen Lerner (Photo: Rod Leon)

Via: The Blaze

Regular readers of this site will know the name Stephen Lerner. For those who don’t, here’s a quick refresher: he’s the SEIU organizer whoThe Blaze revealed almost a year to the day as the man behind the early stages of the Occupy movement. Back then, he admitted to wanting to bring down financial institutions and collapse the system. Now he’s back with an op-ed in the liberal magazine The Nation, and he‘s outlining what’s coming next.

“Occupy has cracked open the door that lets us imagine that another world is possible,” Lerner writes, before bragging about the countless arrests of those within the movement. “Thousands of arrests, months of protest and acts of incredible personal risk and sacrifice have put inequality and Wall Street’s out-of-control political and economic power on center stage. As activity ratchets up this spring, the challenge is to get more people pushing that door open ever wider.”

So what does “pushing that door open wider” look like? How about organizing massive student loan strikes and crashing annual shareholder meetings.

Student loan strikes

Lerner justifies the strike idea like this:

Students and their families now have nearly a trillion dollars of debt, with average debt totaling over $25,000. The explosion in student debt is a direct outgrowth of the defunding of education in state after state. Unlike corporate and other debt, student debt is excluded from bankruptcy relief, strangling students for life. Reducing student debt load and the interest rates applied to it would save hundreds of billions of dollars in debt payments. It’s a first step to creating equal access to education and giving students a fair start without a lifetime burden.

Then he plants the seed:

There is growing interest in Occupy and student groups in a student debt strike. The banks can’t foreclose on a brain or a degree. If a critical mass of student debtors—a million or more—pledged to refuse to pay, it would create a collection crisis that could force negotiations about reducing student debt.

Key phrase: “it would create a collection crisis.”

Stephen Lerner Reveals Next Steps, Goals of the Occupy MovementOccupy Protesters bang drums in Zuccotti Park in November. (Photo: AP)

Crashing shareholder meetings

Student debt strikes are just the beginning, however. Lerner wants more, and that “more,” not surprisingly, involves greater collaboration with the unions.

“Starting with GE on April 25 in Detroit and moving on to Wells Fargo, Bank of America and dozens of other corporations in May and June, tens of thousands of people from Occupy, community organizations, unions and environmental groups will show up at the annual shareholder meetings of major corporations,” he explains. “Some people will be on the inside with proxies, and others will be massed in the streets, all delivering the message that it is no longer acceptable for giant, unaccountable corporations to decide the political and economic fate of the country.”

Key points: It’s starting April 25; it involves “tens of thousands” from unions and even environmental groups; and it will even involve people “on the inside.”

Stephen Lerner Reveals Next Steps, Goals of the Occupy MovementA member of the Occupy San Diego movement protests in front of the California Democrats State Convention Saturday, Feb. 11, 2012, in San Diego. (AP)

A movement in need of direction?

Lerner’s direction comes as the movement is awakening with fury — 73 were arrested at the movement‘s epicenter in New York City’s Zucotti Park over the weekend. And top-down direction seems to be what the willing Occupy foot soldiers are in need of. Consider that after the weekend fracas, the same problems of blurry vision and a lack of uniformity that plagued the movement in the fall sprang up once again.

“I’m really grateful to be part of a generation that wants change, ’cause we should all want change,” said Jennifer Campbell, a graduate student in documentary filmmaking at Hofstra University. “But I’m not sure what that change is, or if they know what that change is.”

“We’re going to keep going,” said Christopher Guerra, who has spent many nights at Zuccotti since the movement started last Sept. 17. He added, “It’s going to get interesting during the election cycle. We’re going to be more of a presence in the political world. I know we have a couple of people running for office.”

According to Mother Jones magazine, 10 candidates for House and Senate seats in the November elections have made Occupy part of their campaigns. They include Massachusetts Senate candidate Elizabeth Warren and Hakeem Jeffries, who is running for Congress in Brooklyn. But some Occupy supporters consider themselves anarchists who abjure electoral politics.

Sandra Nurse, a member of Occupy’s direct action working group, said she expects college students will have “a huge role to play this summer organizing around student debt.” She noted that the issue resonates both with students and with their parents and has the potential to broaden the movement. It‘s straight out of Lerner’s playbook.

But Ted Schulman, an Occupy protester who lives near Zuccotti, said his focus is the upcoming United Nation Earth Summit in Rio de Janeiro. He said he wants to “challenge the U.N. on what their vision of a green economy is.”

Harlem resident Kanene Holder said the movement is broader than any one issue. “This is not a beauty pageant,” she said. “We cannot homogenize this movement into one streamlined vision.”

“I understand the Occupy movement,” observer Brian Cummings of Iowa said. “I understand a lot of people’s frustration. I’m not sure how effective it is. … Nothing seems to be being accomplished.”

And that’s where Lerner comes in. In his conclusion, he embraced the confusion: “Emerging movements are complicated, exciting, messy, confusing and wonderful things to be a part of.”

The Associated Press contributed to this report.

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FRANCES FOX PIVEN: ‘TIME FOR ANOTHER SURGE FROM THE BOTTOM’

Via: The Blaze

After predicting earlier this month that “we’ll see action” from the Occupy Wall Street movement in the spring, leftist professor and activist Frances Fox Piven said it’s “time for another surge from the bottom.”

Piven, making her comments in a video for the left-leaning magazine The Nation, said soaring inequality has always been the “default position” in America.

“In the absence of movements from below, of real trouble from below, in the absence of protests, American politics, electoral politics — despite the fact that so many people go out to vote — reverts to a position where big money is the dominating force, and when big money is the dominating force, regulations of business become impossible, or they are ignored, and that of course is what happened in the current period.”

She continued, “It’s been time for another surge from the bottom for quite a while, and some of us have been waiting.”

New York City police officers cleared out Zuccotti Park and made multiple arrests Saturday night when Occupy Wall Street protesters gathered to mark the six-month anniversary of the movement.

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DOJ denies knowledge of bribed prosecutors in Virgin Islands corruption case

In a Feb. 24 letter to Iowa Republican Sen. Chuck Grassley, the U.S. Department of Justice denied knowledge that two of its prosecutors accepted bribes in connection with a years-long investigation into financial crimes that National Rural Utilities Cooperative Finance Corporation (CFC) executives allegedly committed over the past ten or more years.

The DOJ’s letter to Grassley, signed by Assistant Attorney General Ronald Weich, was in response to the Senate Judiciary Committee ranking member’s request on Feb. 10 for the Department to brief his staff after The Daily Caller first reported on the scandal on Feb. 1.

TheDC’s investigation discovered that the DOJ had failed to arrest and prosecute already-indicted financial executives because bribery had corrupted the process.

In his letter to the DOJ, Grassley said he read TheDC’s investigation into the bribery allegations “with great concern.” That investigation unearthed allegations that two DOJ prosecutors on a team of more than 25 accepted cash bribes from indicted finance executives in the U.S. Virgin Islands.

(RELATED: Read the letters between Sen Grassley and Assistant Attorney General Weich)

According to TheDC’s source, a knowledgeable government official who served on a DOJ team put in place to arrest those finance executives, five other prosecutors on the team were also compromised in some way other than being bribed.

The DOJ never acted on the sealed indictments, which were the consequence of a lengthy criminal scheme involving bank fraud and other financial crimes. This, TheDC’s source said, was because Attorney General Eric Holder is embarrassed by the corruption that has plagued his DOJ internally.

U.S. Virgin Islands Gov. John de Jongh, a Democrat, was personally on the receiving end of a portion of $20 million in cash bribes spread to officials in the Virgin Islands government, according to TheDC’s Justice Department source. (RELATED: Full coverage of the Justice Department)

The bribes went to de Jongh, his attorney general Vincent Frazer and assorted Virgin Islands legislators, the source said. The bribes were intended to quash local concerns about financial irregularities identified on CFC’s books.

TheDC is withholding the name of its source in order to reduce the likelihood of career retaliation from political figures in the Obama administration.

“The article describes in extensive detail the alleged financial crimes of the National Rural Utilities Cooperative Finance Corporation in the U.S. Virgin Islands,” Grassley wrote to Holder in his request for a briefing.

“If the article is correct, the case was apparently a priority for the Department because more than 25 prosecutors were working on the case in some capacity. The whistleblowers in the article allege that confidential information was being leaked from the Department to the targets of the investigation. The article states that a meeting was held with all of the prosecutors involved and it was uncovered that two Department officials had accepted cash bribes and other improper contact had occurred.”

“It is further alleged that the bribed officials attempted to disrupt the investigation and protect certain targets,” Grassley added. “The article states although the suspects had been indicted and arrest teams were in place, the case went dormant due to the leaks and bribes at the Department. The article also goes on to allege that the sitting governor of the U.S. Virgin Islands and top officials in the government also accepted bribes.”

Read more: http://dailycaller.com/2012/02/27/doj-denies-knowledge-of-bribed-prosecutors-in-virgin-islands-corruption-case/#ixzz1nkRd8x5V

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Obama Reveals Beginnings of Unionizing Plan for American Military?

by 

Months ago, a longtime Wall Street Insider indicated there was a push within the Obama administration for unionization of the American military.  Has that move now been revealed?

Can you imagine attempting to unionize our American military?  And for such a consideration to be made by an administration…it is appalling how dangerous the mindset of the Obama people has become.  Almost as appalling as how many of us didn’t see it all coming our way.

… As I did say – the administration wants to unionize the American military.  All of it.  They apparently, if what this gentleman said is to be believed,…they wish to see the soldiers “justly represented”.  That was the term that was repeated to me by more than one source.  It had…the conversation had originated as one about unionizing Wall Street workers and then the information about the military – the actual plan for unionizing the military came out.    -WALL STREET INSIDER:  President Obama’s Plan to Unionize the American Military

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Today we see a troubling report of plans by the Obama administration to force acting and retired military service personnel and their families to pay higher insurance costs associated with the Obama healthcare plan – a plan that would protect current rates for unionized civilian defense workers. 

Is this a case of the Obama White House attempting to push the American military into wanting to be unionized so as to be protected from such seemingly randam and harsh increases to their cost of living – the kind of protection the unions would be quite happy to promise them?  Why else would President Barack Obama make such a seemingly foolish and potentially damaging political move as this?

Excerpt from the Washington Free Beacon report:

The disparity in treatment between civilian and uniformed personnel is causing a backlash within the military that could undermine recruitment and retention.

The proposed increases in health care payments by service members, which must be approved by Congress, are part of the Pentagon’s $487 billion cut in spending. It seeks to save $1.8 billion from the Tricare medical system in the fiscal 2013 budget, and $12.9 billion by 2017.

…Significantly, the plan calls for increases between 30 percent to 78 percent in Tricare annual premiums for the first year. After that, the plan will impose five-year increases ranging from 94 percent to 345 percent—more than 3 times current levels.   LINK

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Why would a Commander in Chief during an election year push for potential increases of over 300% in military health care costs?  Surely there is an alternative motive at play here – and our Wall Street Insider might have been exactly right when they issued their warning that the Obama administration was looking at ways of unionizing the American military.

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They Took Our Jobs – Immigration Stories You Are Not Supposed to Hear H-1B H-2B Visas

See video below: Secret Video-Immigration Lawyers teach companies how to steal jobs from USA workers

This is an amazing video. Nearly all news coverage of immigration in America has only one narrative- Immigration Good, all people that want less immigration are BAD.

However,this TV News report is completely different from the usual anti American worker pro immigration propoganda. This report bravely documents evil Corporations that use loopholes and fraud with worker visa programs to steal American jobs and depress our wages. This anti American worker attack has been happening for decades all over the country, and not just in construction and manual labor trades, but in other industries too.

On January 31, Jennifer Wedel asked Obama in a video conference why he is giving away so many American jobs to foreign workers via the H-1b visa program. The media ignored the question. Some, like Jon Stewart, ran clips edited to make the woman that asked the question seem like a fool and omitted the part where she brought up the H-1B visa program taking American jobs. In this video, you can see the effects of a similar fraudulent worker visa program, the H-2B visa program.

According to Norm Matloff, over 1.8 million Americans with engineering degrees can not find work in engineering. yet the media constantly cheerleads for multinational global corporations that want an ever increasing and endless supply of younger and cheaper workers brought in via mostly fraudulent worker visa programs.

Obama is not the only president to screw the American worker to please big multinational corporations, George Bush can be considered our first Mexican president based on his one sided immigration policies favoring massive amounts of immigration that has reduced wages and taken job opportunities for Americans for decades.

Obama crows he has added 3 million new jobs, but omits the fact he has continued to add 125,000 new foreign green card workers each month since he has been in office, well over 3 million new LEGAL foreign workers to take our jobs.

When will this stop? Have you had enough?

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How Immigration attornies teach companies to use loopholes and deceit to steal job opportunities from highly skilled Americans and give the jobs to cheaper and younger foreign workers.

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Senators ask Napolitano, Holder to penalize Chicagoland county for defying immigration officials

The death of a Chicago man killed by a drunk driver who was in the United States illegally has become an unlikely catalyst in the national policy debate over immigration. Eight Republican members of the Senate Judiciary Committee wrote to Homeland Security Secretary Janet Napolitano and Attorney General Eric Holder on January 30, asking them to cut off some federal funding currently sent to Cook County, Illinois.

This undated photo shows the three McCann brothers. From left to right, Kevin McCann, Brian McCann, and the late Denny McCann

That funding, disbursed through a federal grant program called the State Criminal Alien Assistance Program, pays localities for costs incurred in processing criminal aliens when U.S. Immigration and Customs Enforcement wants them detained before they can post bail.

Cook County received $2.29 million last year, $3.4 million in 2010 and $4.4 million in 2011.

Yet a Cook County ordinance forbids police from cooperating with those requests, called “detainers,” from ICE officials.

“It is ironic and frustrating that the Administration has filed suit against several states for passing laws that aim to protect their citizens and help enforce immigration law while essentially turning a blind eye to jurisdictions that actively promote safe harbor policies,” the senators wrote to Napolitano and Holder.

“If the Administration truly believes immigration law is only to be enforced by the Federal government, as it has argued before several courts, it should adhere to that position and take action against jurisdictions that actively thwart effective Federal enforcement of the Immigration and Nationality Act.”

On January 4, ICE Director John Morton sent Cook County Board President Toni Preckwinkle his own written warning that his ordinance could cause significant conflicts with the federal government. The county, he said, had ignored all 268 ICE requests to detain criminal aliens instead of setting their bail.

“In addition to undermining local public safety, the Ordinance may also violate federal law,” Morton wrote, adding that it “also inhibits ICE’s ability to validate Cook County’s annual request for State Criminal Alien Assistance Program (SCAAP) funding.”

(RELATED: Read the senators’ letter to Napolitano and Holder and ICE’s letter to Cook County, Illinois)

The case that snapped the federal government to attention involved Denny McCann, killed in 2011 by a criminal alien named Saul Chavez,  who was driving drunk. When Chavez was arrested for the same offense in 2008, he told a police officer that he was in the country illegally.

Keep reading…

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Video – World famous blogger, Trevor Loudon – The Soros Files

Trevor Loudon, a world-famous blogger from New Zealand, is the author of Barack Obama and the Enemies Within. He says the survival of America hangs in the balance and that the next phase of Obama’s plan is to slash U.S. national defense spending. Trevor contributes to www.sorosfiles

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Obama Announces 35 Campaign “Ambassadors”…

The usual cast of characters, far-lefties and unionists

(Politico) — The Obama campaign has released a list of 35 campaign co-chairs who will act as key surrogates and ambassadors.

The co-chairs are a diverse array of Obama supporters — including former Republican senator Gov. Lincoln Chafee (now an independent serving as Rhode Island governor), former Wisconsin Senator and progressive darling Russ Feingold, former White House chiefs of staff Rahm Emanuel and Bill Daley, Caroline Kennedy, business executive Penny Pritzker, Human Rights Campaign president Joe Solmonese and actress Eva Longoria, among others.

“The president’s national co-chairs will be tremendous assets on the ground as we build the biggest grassroots campaign in history,” Obama’s campaign manager Jim Messina said in a statement. “They each share the president’s vision for a future where every American can have a fair shot at success, where hard work pays off and responsibility is rewarded.”

Lynnette Acosta – OFA volunteer leader from Florida
Marc Benioff – CEO of Salesforce.com
Senator Michael Bennet – U.S. Senator from Colorado
Mayor Julian Castro – Mayor of San Antonio
Governor Lincoln Chafee – Governor of Rhode Island
Ann Cherry – Retired teacher and OFA volunteer leader from North Carolina
Representative Judy Chu – Representing the 32nd District of California
Representative Emanuel Cleaver – Representing the 5th District of Missouri
Bill Daley – Former White House Chief of Staff to President Obama, former U.S. Secretary of Commerce
Maria Elena Durazo – Executive Secretary-Treasurer of the Los Angeles County Federation of Labor, AFL-CIO
Senator Dick Durbin – U.S. Senator from Illinois
Mayor Rahm Emanuel – Mayor of Chicago
Senator Russ Feingold – Former U.S. Senator from Wisconsin
Representative Charles A. Gonzalez – Representing the 20th District of Texas
Loretta Harper – High School Counselor and OFA volunteer leader from Nevada
Attorney General Kamala Harris – Attorney General of California
Sai Iyer – Student at Virginia Commonwealth University and OFA volunteer leader from Virginia
Caroline Kennedy – Author/President of the John F. Kennedy Library Foundation
Eva Longoria – Actress and Philanthropist
Felesia Martin – OFA volunteer leader from Wisconsin
Bishop Vashti McKenzie – African Methodist Episcopal Bishop
Attorney General Tom Miller – Attorney General of Iowa
Kalpen Modi – Actor/Former White House Associate Director for the Office of Public Engagement
Admiral John Nathman – Retired U.S. Navy Admiral
Governor Deval Patrick – Governor of Massachusetts
Secretary Federico Pena – Former U.S. Secretary of Transportation and U.S. Secretary of Energy
Elaine Price – Retired Ohio resident and OFA volunteer leader from Ohio
Penny Pritzker – Founder and CEO of PSP Capital Partners
John Register – U.S. Army Veteran and Paralympian
Representative Jan Schakowsky – Representing the 9th District of Illinois
Senator Jeanne Shaheen – U.S. Senator from New Hampshire
Joe Solmonese – President of the Human Rights Campaign
Alan Solow – Partner at DLA Piper LLP and past Chairman of the Conference of Presidents of Major American Jewish Organizations
Governor Ted Strickland – Former Governor of Ohio
Mayor Antonio Villaraigosa – Mayor of Los Angeles

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DID THE OBAMA ADMINISTRATION ‘BUY’ VOTES TO PASS UNPOPULAR LEGISLATION?

The White House has allegedly been using “administrative earmarks” to “buy” votes from Democrats in Congress, according to a new report from The Heritage Foundation.

“An examination of ‘administrative earmarks’ around the time of congressional votes on key pieces of President Obama’s agenda suggests the White House used its power to fund local projects as a means to ‘buy’ votes for major legislative efforts,” writes the Heritage Foundation’s Lachlan Markay.

How do “administrative earmarks” work? Simply put, it’s when the federal government shifts funds from its discretionary budget to specific projects. However, this is less “transparent than legislative earmarking,” since, according to the Congressional Research Service, “[t]here is no source that defines and comprehensively identifies Administrative earmarks.”

Did the Obama Administration Buy Votes to Pass Unpopular Legislation?See, Nancy? One day, this will all be yours . . .

And, according to the Heritage Foundation, the Obama administration has been doubling down on the practice.

“[An] analysis of grants from agencies during the early years of the Obama administration shows that the districts of moderate Democrats, whose support was so crucial for Obama during the 111th Congress, received large sums right around the passage of three key pieces of legislation,” Lachlan Markay writes.

Care to guess which three pieces of legislation required a little “encouragement” via federal grants? If you guessed “Obamacare,” Dodd-Frank, and the cap-and-trade bill, you’re a winner.

“During the run-up to votes in the House of Representatives for each of those pieces of legislation, the rate of administrative earmarking spiked,” Heritage reports.

Below is a chart that clearly identifies the exponential rise in the number of grants requested by 12 federal agencies, as documented at Grants.gov.

Did the Obama Administration Buy Votes to Pass Unpopular Legislation?

Image Courtesy: Heritage Foundation

Notice the correlation?

“Even more troubling,” Markay writes, “during the same time periods, significant grant money went to the districts of numerous Democratic representatives who looked to face tough battles for re-election.”

Keep reading…

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