Monday, October 31, 2011

Today's News UPDATED

This morning's WSJ Page One headline: Corzine Races to Save Firm. First paragraph:

Jon S. Corzine, the former New Jersey governor, raced over the weekend to find a buyer for MF Global Holdings Ltd. in an attempt to rescue the securities firm he now runs from a crisis partially of his own making.

This might have been news to everyone else today, but we knew about MF Global's demise a week ago. You see, we read Ann Barnhardt's blog because she's smart, and she wears our Commie Obama hat.

So a lib was voted out of office, took a CEO spot at an investment firm, made investment decisions on his own and ignored his team of advisors, the investments went bad, and hard-working people lost their jobs. And this is news in Obama's America?

Ann has a new post about missing funds at MF Global. Just $700 million.

UPDATE 11.1 7:30am START

The WSJ reports today the missing funds are "roughly $900 million."

NYT reports: "What began as nearly $1 billion missing had dropped to less than $700 million by late Monday. It is unclear where the money went..." but also adds, "the investigation threatens to tarnish the reputation of Jon S. Corzine."

Some other tarnished reputations from history:

Maddoff's reputation tarnished in $65 billion ponzi scheme,
Hitler's reputation tarnished in holocaust,
Clinton's reputation tarnished with rape charge and impeachment,
Mao's reputation tarnished after 63 million killed/starved.


Ann has the Quote of the Day in her concluding remarks on MF Global and the coming/continued collapse of America's financial institutions:

This MF Global collapse is a small-scale (yes, that's right, SMALL-SCALE) foretaste of what is going to happen to the entire system. When I say get your money out of the market, out of paper instruments, and turn it into something real that is physically located on your property, that you can then stand in front of with an assault rifle and physically defend, I'M NOT KIDDING.

She has a pink AR-15. Very cool.

In unrelated news, Zombie reports on the organizations behind the Occupy movement. Here are the first seven in his list:

Communist Party USA
American Nazi Party
Ayatollah Khamenei, Supreme Leader of Iran
Barack Obama
The government of North Korea
Louis Farrakhan, Nation of Islam
Revolutionary Communist Party

Sorta the same supporters of the Tea Party. Except different.

Ushanka Tips to Ann and Zombie.

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