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FBN's Charlie Gasparino on the political conflicts of interest existing in the MF Global case.
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Now since a sudden implicit and that's global.
Well to search for the missing money continues.
The FBI you've got regulators you've got the Justice Department senators and congressmen are all involved in this investigation yet no clear signs.
Of where things are headache so let's look at the case that Charlie Gasparino I mean this investigation is so multifaceted its mind blowing.
And it's the I think there are more invest more agencies investigating this than the financial crisis I mean you literally have to US attorney's office Chicago New York you have the FBI.
You have this is securitization range commission you have the CFTC commodities futures trading commission.
I had the CME they dropped out handed everything over to -- CC FTC is you need is to Chicago Mercantile Exchange.
Provides front light regulation as a member of -- of -- commodities broker.
That was you have all these congressional agencies at least three -- congressional committees banking Arab culture.
Subcommittee of the house financial services -- -- this class this is a long list yet where we right now.
We are not that much different from when I understand them what we started now I will say this.
The people on the ground are telling me some interest in stuff.
They tell me.
That you know Edith O'Brien to former assistant treasurer kind of in the middle of all the mess.
When the miss when the money went missing that's the key extra money that was essentially used I guess to pay off creditors and moved in different places.
Obviously away from customer accounts she was at the center -- -- her attorney wants blanket immunity.
The the people at the top of the FBI art and and the Justice Department are very hesitant to give by community -- will tell you that people on the ground.
Probably don't have a problem with this based on what what I -- -- -- They know that she holds the key to the possible what happened to possibly what happened who gave you orders including whether Jon Corzine the CEO of -- global the former New Jersey senator.
The former new New Jersey governor and the former CEO of Goldman Sachs and one of president Obama's major -- of cash and Wall Street.
Whether he gave the order he knew that the money was being use or misuse by -- taken and add -- those customer accounts.
The moving around we should point out this.
When you talk to people like total of people -- and the other big story not just wears a case but why is the case not moving forward is fence is right -- six months and they talk about political considerations.
Look at it this -- guys.
This is a connect the dots thing.
I will tell you people on the ground that these agencies are nonpartisan generally.
They're very dedicated to the work it's not them know it's the people above them they're all partisan -- either appointed by the president.
Or you know they're they're looking for a job of an additional job -- the present I mean look at -- -- the US attorney for the southern district New York.
Maybe the most publicity hungry.
Of all the of all the US attorneys that I -- -- -- And that seeing a lot of -- this is a guy that you know in insider trading never misses a good chance the could sort of go out there and talk about how great this insider trading case -- -- big great.
But no thanks a lot you talk to -- customer losses on insider trading right here we got one point six billion you never hear isn't it never -- really open his mouth forget about this.
What are the exit called me about -- do you if you look at it the time magazine.
Sort of good coverage of him -- -- a big profile them guess what in that in the lead to that story he takes credit for personally who recording.
What wiretapping.
People in and in the insider trading investigation it never happened so he's willing Google app for you would think that to -- some publicity he'd go after this.
And I'll tell -- it's pretty silent at the US attorney at this on the district's office so that what we have here it is a lot of people talking.
About the political aspect of this Mary Schapiro I like Mary.
No offense to -- appointed by President Obama that is see the CFTC Gary Gensler longtime Democrat.
Appointed by the by President Obama Robert Mueller and -- was not appointed by President Obama I think he started the Bush Administration -- to hold over.
But guess what both he and and -- -- are both on the short list of possibly.
To replace ever cold there if ever colder as a lot people expect steps down if there's a second Obama term so there's this thing.
Is rife for conflicts of interest what do we do we talk about conflicts of interest we don't this -- say that's a smoking gun what we do is tell the public.
Look at this case from another Rangel this is.
Presidential -- this is -- case of presidential appointees.
Having to basically crackdown on a case where the president could get hurt because guess what.
When of these top Wall Street bundling is John -- -- would have to make in the middle that's to your point I think they all should recuse themselves and start an independent investigation now.
I think the most independent these agencies clearly the FBI right there's no doubt about that FBI just so you know -- not work for the Justice Department I think it's part.
Which should -- does not work for any of the US attorney's it's a separate agency in the Justice Department.
It does not work for the US attorney for the southern district although they often work together.
It's a separate agency that keeps it somewhat independent but like I said.
Robert Mueller.
From what I understand wants that job.
He would like Eric holder's job so I'm not saying that I have a smoking gun with these stories we talk about conflicts of interest and this MF global story I will say.
About -- -- right like and the only other issue is usually when you write some like this they get embarrassing than they do something.
-- stay -- maybe we'll do something we'll do just that thanks.
So.
