Thursday 16 February 2012

as long as Jamie gets his money

I think Michael Hudson said that MF had bet wrongly on Greece,
so I pieced this theory together:
Corzine was not in on the derivative zeitgeist,
and instead bet on Greek default with CDSs.
Greece, as it stands, won't default, because:
default=CDS= bank collapse (but you know that).

So, his company MFGlowball had to die.
However, since he’s too big to fail
(not MF, but Senator/Governor Corzine),
and JPMorgue is too big to fail,
Corzine seems to have been allowed
to pilfer his customers’ money,
with no criminal charges, to pay off JPM,
and now he’ll get a position somewhere important
representing the US
as his consolation prize for betting on the wrong side.

this saved tbtf jp morgan from crisis.
So Corzine could have made the deal
in order to save himself,
or maybe he was told to do it, to save JPMorgue.

It was either that, or pay him off with Fed money,
under the table.