The missing $600,000,000 in customer funds from Jon Corzine’s failed MF Global investment bank was briefly located yesterday at J.P. Morgan-Chase, until regulators realized that was not the $600,000,000 they were looking for.
The same thing happens with my car keys all the time, so I can relate.
And in other news. . .
In another twist, a top regulator ended his role in the investigation of MF Global because of longstanding ties to Corzine. Commodity Futures Trading Commission chairman Gary Gensler, whose agency is leading the effort to locate the missing client money, had worked for Corzine at Goldman Sachs.
Why don’t we just get Patrick Fitzgerald in there now as a special prosecutor and avoid the drama?