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In nearly a year since MF global filed for bankruptcy might be difficult bringing charges against MF global CEO former -- Jon Corzine after.
The disappearance of those customer fines but.
The investigation continues particularly at the Commodity Futures Trading Commission.
-- -- -- -- Whenever CFTC is the front line regulator for commodities brokerage firms that's what -- here's what we know right now.
No charges yet embarking upon a year.
Lots of speculation as to why including the fact that the CFTC.
And SEC the DOJ.
All run by appointees of the Obama administration and guess what Jon Corzine was once was but one of the largest Wall Street on news of campaign cash for the -- probably that for another story.
Here's what we know right now.
The CFTC commissioners will get an update on the MF global.
Investigation next week there's this up they will come from the staff the staff as you know is run by -- -- Gary Gensler a former.
Goldman Sachs partner appointee by by President Obama mr.
Recused himself from the investigation officially because guess what used to work with Jon Corzine spent.
At at Goldman Sachs of this is kind of sticky political situation but what we -- -- we do understand is that the CFTC commissioners get a briefing next week.
And on on the in this recent progress and here's what we think some of the stuff -- gonna hear a number one they're gonna hear.
That's the staff has yet to this I -- it's amazing.
Has yet to interview we're deposed I'm tightening you don't know where do we need they made -- an interview in almost makes a difference it's -- it's illegal sort of in its its illegal sending in any event.
Edith O'Brien a former assistant treasurer who was at the center of the sort of confusion.
Last days before they blew up where guess what that money that one point six billion dollars in customer money was missing yeah pretty -- I've not talked to why haven't they software.
They're got -- and this is what they're gonna probably find out.
-- the status of her.
Talks with the Justice Department which she wants is immunity.
Fairly blanket immunity the Justice Department from what I understand is balking at this blanket immunity.
And you know this to -- is bizarre.
And I'll get that -- second and the reason why is because.
You know the -- -- the farmers worried that -- O'Brien obviously might have a lot of culpability.
And by giving her blanket immunity she could say what happened and -- -- charts even though the book might have stopped with her that's what they're thinking.
You know other people think that she holds the the sort of keys to the information treasure trove about what Jon Corzine -- What he didn't know.
About those final days about whether he gave the go ahead to used to customer funds which -- obviously misuse and those -- funds -- Remain sacrosanct wise it's bizarre to me.
Because everyone does anybody care within -- O'Brien you know made a mistake or you know give someone -- yeah OK yeah I might she's not a major player in this.
What they really want to know is whether.
A top fund raiser from the Obama administration one of the Wall -- leading figures.
Did something wrong and how -- rule was it was a criminal we don't know she hasn't been deposed yet.
Was it civil we don't know as -- -- the -- yet has it or is it just was he just like.
You'll feckless is is is the old Jon Corzine.
They used to -- Fuzzy over at Goldman Sachs because he -- -- attention to detail was that the rate reason why.
You know he even know what was going on and didn't cause for money gotten into who went missing and that being feckless and Fuzzy.
-- not necessarily a crime to some -- you can't you can't be reckless.
The -- negligent you can be sued civilly and pay a lot of money in -- civil court.
But that's in this not a surprise that's what we are right now I think we're gonna find out -- little more about this case next week is a -- when the rubber meets the road at the CFTC we support at the CFTC.
I'm a civil basis remember there's usually civil criminal.
Is probably the lead agency investigating this -- they covered these commodity so -- even ahead of the the SEC just aren't trying always on top of that thanks so much.
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