Did You Know...

   

How Economic Problems Perpetuate, Part XXIV

Share
By Doug Powers  •  November 13, 2011 11:08 AM

**Written by Doug Powers

MF Global, the securities fun led by Jon Corzine, recently declared the eighth largest bankruptcy in US history and is now said to be the subject of an FBI investigation. Hundreds of millions of dollars remain unaccounted for. The bankruptcy was preceded by high risk-taking, a credit downgrade to junk status, heavy debt and the company allegedly used money from client accounts. As a result, last week, over a thousand people lost their jobs without severance and 150,000 accounts are frozen.

Rewind the tape a couple of years: In 2009, Joe Biden said that the first thing the Obama administration did about the banking crisis when they took office was to… call Jon Corzine for advice.

This clip could be coming soon to a Republican presidential candidate’s ad near you:

Thank you, Mr. Vice President — that helps clear things up.

(h/t Breitbart.tv)

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
~ For the latest breaking news, be sure to join Michelle's Email List:

Obama: Economic patriotism means we rise or fall together

July 28, 2014 07:37 AM by Doug Powers

gypsy

Wherever we go, whatever we do…

Eleanor Holmes Norton vigorously defends Obama administration’s right to privacy

July 27, 2014 10:47 AM by Doug Powers

holmesnorton

Another Democrat sticks up for the ‘little people’

Speak-os, typos and wackos

July 26, 2014 11:47 AM by Doug Powers

thelmalouise

FACT: Obama boosts labor force participation rate

July 24, 2014 07:55 AM by Doug Powers

labor

War on women

How Jimmy Kimmel could still land that Obama interview

July 22, 2014 11:25 AM by Doug Powers

fundraising


Categories: Barack Obama, Media

Follow me on Twitter Follow me on Facebook