When did we cross over to where any Federal official can go before any body and dictate (in a way that sounds kind) terms to any other institution. We’ve had the examples of the law suits against states, Panetta going before Congress, and now Freeh going before a bankruptcy court. There is no shame left.
MF Global execs to receive bonus despite robbery of $1.6 billion in customer funds
Posted by PeterLBrandt on March 12th, 2012
MF Global employees should face criminal charges, not cash bonuses.
The Wall Street Journal reported Friday that FBI Director Louis Freeh is planning to ask the bankruptcy-court judge in charge of the case to approve potential bonuses for MF Global executives Bradley I. Abelow, Henri J. Steenkamp and Laurie R. Ferber, according to people familiar with the situation. The payouts likely would be made in pieces throughout 2012. As many as 20 or so other MF Global employees now working for Mr. Freeh also would be eligible for possible bonuses. Details could be filed as soon as this month.
This development is absolutely OUTRAGEOUS. Segregated account holders are missing $1.6 billion from JP Morgan due to illegal money transfers by executives of MF Global to cover its bad bet. Now executives of MF Global have their hands out for a bonus???? Are you kidding me?????
If members of Congress want to know why an all-time low 10% of the public approve their job performance (Source: Gallup), look no further than the MF Global scandal.
Not only should CFTC Director Gary Gensler be tarred, feathered and dragged out of DC, but add FBI Director Louis Freeh to the list of those federal bureaucrats being pandered to by members of Congress. Congress should be ashamed of their inaction on the MF Global matter.
Unfortunately, there is no shame in Washington — with the Administration, with Congress and with the unelected and incompetent federal regulators.