Wednesday, December 07, 2011

Today's News

Which story from today will impact you and your family for years to come?

1) Baldwin kicked off a plane
2) Former Illinois governor Blagojevich gets 14 years in prison
3) Blagojevich and Rezko are linked to Obama 
4) Cops arrest Penn State's Sandusky after 10th victim comes forward
5) ESPN still unsure if they should report rape as only 10 Sandusky victims so far
6) MF Global customers are threatened with Clawback

Unless you are a Chicago politician or a charity 'recipient' of Sandusky's, #6 is the correct answer.

Follow these recent events (illegal acts in bold):

A) MF Global headed by big Democrat, Corzine
B) Corzine bets big on European bonds
C) Corzine raids the private, separate, accounts of MF Global customers to cover his loses.
D) MF Global files for bankruptcy
E) Potential buyer of MF Global assets backs out of acquisition - can't find customer funds.
F) Auditors unable to find $600m in customer funds - promise to find it
G) Auditors find most of customer funds - claim poor book keeping
H) Auditors now report $1.2b in customer funds missing
I) MF Global customers are locked out of their accounts as their investments lose value
J) Investments paid-out to customers prior to bankruptcy may be 'clawed back'
K) Corzine resigned and is free

How does this impact you and us?  

1) The laws in place were ignored
2) The enforcers failed in their audits
3) The laws to pursue Corzine and this theft are being ignored
4) The laws to protect investors are no longer valid.  The system has failed.  It is only a matter of time for these crimes to be found in your institution.

The system cannot work in a lawless environment.  

Greeks are going to their banks and withdrawing everything.  Italy and/or Spain is next.  Here in the US? A Baldwin is kicked off a plane.

Want to know what to do?  Want predictions for the US?  Go read Ann Barnhardt.  Or to the sites that we've found through Ann, Market-Ticker and ZeroHedge.  All have plenty of advice, and all are better suited to tell you what could/will happen here.

We don't offer predictions on this because 1) it isn't our expertise, and 2) we're not capable of imagining the dark horrors that await the unprepared.


We loved Alec in Team America.  He rocked!
And sorry for the layout - we're still trying to figure out Google's new blogger tool.

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