Home
In this issue
April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review

What the MF-- Global?

By Ron Hart




http://www.JewishWorldReview.com | "I simply do not know where the money is."

Jon Corzine, Democrat of NJ and ex-Chairman of MF Global.

These words from the top businessperson in the Democrat Party just about say it all. After he bankrupted, in 20 months, his brokerage firm (the eighth largest in history), $1.2 billion in customers' - not the company's - money has gone missing.

As he did when he was Governor of New Jersey (and apparently at MF Global), Corzine spent other people's money until he couldn't any more.

In fact, "MF" is what the customers of the firm said when they learned their money was missing. It was supposed to be in "segregated" accounts, but to be fair, Democrats have long opposed segregation. Perhaps, in the name of equality and fairness, Corzine bused some of the segregated money to another school district to achieve what he viewed as "best" for them. With Democrats, anything done under the guise of "fairness" cannot be questioned.

The news of MF Global's demise came on the heels of some purportedly good economic news for the Obama regime. Somehow, they said the unemployment rate dropped to 8.6% last month, gaining 120,000 jobs. But this does not account for 301,500 people who quit looking for work last month. In total, six million people have given up looking; some economists say the real un- and under-employment rate is 20%.

The unemployment rate of 8.6% under Obama is a number that looks so Democratically massaged that Al Gore instinctively dropped his towel in front of it.

The news came at a bad time for Democrats, and it is the most embarrassing news Corzine has suffered since he held his last job, Governor of New Jersey. Even though he spent millions of his money trying to get re-elected, Corzine lost to rotund Republican Chris Christie, a guy you really want on your side unless you are in a canoe.

Who would be dumb enough to lend money at .02% to Corzine and MF Global and then allow them to get leveraged 40 to 1? Why, our very own Federal Reserve. And who was supposedly regulating MF Global under the watchful eye of Sheriff Joe Biden? I thought Obama had cleaned all this up?

For those keeping score at home on "regulation" in Washington, here is the latest. George Bush, who Obama says "gutted regulation" in Washington, hired 90,000 additional regulators, tripled the budged of the SEC after Enron collapsed, and passed Sarbanes-Oxley. Democrats then passed Dodd-Frank and layer upon layer of regulations when they controlled the all three branches of government from 2008. Then we had the housing meltdown, Madoff, and now MF Global.

Solyndra, with Obama campaign bundler Kaiser as its chief investor, wasted over $500 million of our money. Now Obama refuses to approve the Keystone pipeline, which would mean tens of thousands jobs in middle-America and would help us toward energy independence.

Years ago, a King and Spalding attorney friend, "Lawyer Steed," recommended me to writer Lewis Grizzard to help him invest his money. Divorce-prone Grizzard, who famously said, "Next time, I think I'm going to find a woman I don't like and just give her a house," was not good with money. He bumbled and stumbled trying to ask me his net worth but could not find the words. Then he asked, "If I had to leave town tonight, how much money could I put in a coffee can?" It seems neither our regulators nor Corzine can answer that simple question. We have plenty of "regulations" on the books, yet we cannot prevent these debacles?

Regulation upon regulation confuses the simple things (like where the money is) and makes it easy for slick crony-capitalists to game the system.

I worked at Goldman Sachs when Corzine started running the place. Back then, it was a private partnership and a great place. He cashed out for himself and others by going public, and the firm has gone downhill since. Do we understand the difference between a real entrepreneur, who is creative and risks his or her money to create a big company that employs a lot of people (like a Bernie Marcus of Home Depot), and a Jon Corzine or Jeff Immelt of GE, who claws his way to the top of an old, established company? A monkey could have run Goldman Sachs in the 90s; apparently one did.

=<<


BUY THE BOOK


Click HERE to purchase it at a discount. (Sales help fund JWR.).


Comment by clicking here.


JWR contributor Ron Hart grew up in Tennessee and began writing a column for his hometown paper in 2002. He attended The University of Memphis and the Institute for Political and Economic Systems at Georgetown University. Ron graduated Magna Cum Laude and was elected student government president. Upon getting his MBA, he went to work for Goldman Sachs. He was appointed to the Tennessee Board of Regents by then Governor Lamar Alexander and is now a private investor. He appears on CNN and has been quoted in numerous publications including the Wall Street Journal.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.



Previously:

The GOP Primaries: The Adultery of Hope

No Thankfulness at Thanksgiving for the OWS Crowd

Cain Mutiny, or a ‘High-tech Lynching?’

Slipping into an Envy-ocracy

An honest, if unconventional, assessment of those vying to wipe that smirk off Obama's smug mug

The Unwashed Masses Descend on New York City

Obama ‘pivots to jobs’ --- his

Washington: Blame No One. Do Something!

Our Debt Problems: Politicians Extend and Pretend

No Child Left --- To the Left

Dems' debt ceiling demagoguery

Golf Summit --- I Like Spike(s)

Nancy Pelosi Finally Demands a Weiner Probe

The porkulus political payback project

Schwarzenegger, please!

An ILL Wind for Business --- Boeing, Boeing Gone?

Osama's 72 Virgins --- and Obama's 72 Versions

Bin Laden was taken out by seals and now sleeps with the fishes

Trump: Got 99 problems, but rich ain't one

Why you should see the ‘Atlas Shrugged’ movie

Why The Donald trumps the Bamster

O-Bomb-A

Mid-East Megalomaniacal Despots on the Run

Truther or Dare

Facebook ‘Un-friends’ Our Increasingly Regulation-burdened Capital Markets

Egyptians Unfriend Mubarak

Hold 'em liable --- the colleges, that is

Follow your Hart in a look back at 2010

GOP wins in showdown

WikiLeaks --- Danger or Disinfectant?

The Angle of the Rangel

Where We Let Terrorists Really Hurt Us

Time to starve the spending beast

The TSA: We Do Chicken Right!

A Red Wave

No Juan Left Behind at NPR

Capitalism in Time Saves Mine

The Broader Picture of What These Elections Mean

Dem-moralized: ‘Dead Fish’ taken to the trash cant

Ships Passing in the Night

Obamanomics continue to add up . . . for Republicans

She had Tiger by the tail: If Elin did not get Tiger's money, Obama would have


© 2010 Ron Hart

Columnists

Toons

Lifestyles