REVEALED: CORZINE’S MF GLOBAL WAS CLIENT OF ERIC HOLDER’S LAW FIRM

◼ Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling. - Breitbart

There’s more.

Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester--the very law firm from which Associate Attorney General Tony West came to DOJ.

And more.

As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said, “I could have engaged any lawyer in America to represent our bank. I chose Eric.”

Until now, the conventional wisdom for why Holder wouldn’t throw the book at Corzine was that Corzine is an Obama campaign bundler. Indeed, as Breitbart News reported, four of the top officials at the Department of Justice--Eric Holder, Thomas Perrelli, Karol Mason, and Tony West--were also big money bundlers for Obama.

But the newly understood crony connections reveal conflicts of interest that extend well beyond mere political support for a common candidate--they go to a tangle of prior business dealings that further underscore the need for a special prosecutor in the Corzine case.

...This isn’t going away.

RNC: Obama and Corzine

Witness: Corzine knew that customer funds flew

◼ Last week, Jon Corzine testified before Congress that he had no idea that the company he ran into the ground, MF Global, had borrowed money from customer accounts. - Ed Morrissey/HotAir

Corzine might end up wishing that he’d just taken the Fifth instead. A witness directly contradicted his claim in Senate testimony yesterday, saying that Corzine not only knew about the raids on customer accounts, he ordered at least one of them himself

◼ CME chief: Corzine was aware of customer funds transfer

In a hearing before the Senate Committee on Agriculture, Nutrition and Forestry, Terrence A. Duffy, the chief executive of CME Group, said a senior female executive of MF Global told a CME auditor that Corzine — the former chief executive officer and chairman of the firm — was aware of a $175 million loan of customer money to a European affiliate of the now-bankrupt commodities brokerage.

“Mr. Corzine was aware because our employee had heard this, on the phone—‘Send back 175’ — and said he was aware of this loan,” Duffy told the Senate committee.

...Corzine has denied involvement in any illegal or improper movement of funds. In comments Thursday, he said his remarks could have led to a “misunderstanding” about the customer money. “I never directed anyone at MF Global to misuse customer funds. I never intended to, and as far as I’m concerned, I never gave instructions that anyone could misconstrue,” Corzine said Tuesday.

◼ Corzine's profiteering almost paid off - Timothy P. Carney/Washington Examiner @tpcarney

(One of Obama's top fundraisers), John Corzine 'stunned' cash can't be found; Weird coincidence: Obama bundler Corzine got a range of regulatory "gifts" before his firm collapsed

◼ As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon Corzine testified Thursday about the “last chaotic days” of MF Global, the trading firm that declared bankruptcy under his watch. - LA Times

“I simply do not know where the money is or why the accounts have not been reconciled to date,” he said in testimony before the House Agriculture Committee.

◼ Weird coincidence: Obama bundler Corzine got a range of regulatory "gifts" before his firm collapsed - Doug Ross
◼ Loss May Be Soros's Gain - Gregory Zuckerman AND Dana Cimilluca/Wall St. Journal via Drudge

Investor George Soros's family fund bought about $2 billion of European bonds formerly owned by MF Global Holdings Ltd., the very debt that helped force the securities firm to file for bankruptcy protection Oct. 31, according to people close to the matter.

Under the direction of MF Global's former chief executive, Jon S. Corzine, the firm accumulated $6.3 billion of short-term debt issued by various European nations, mostly from Italy, in a bid to boost trading profits. Over the summer, this debt led to nervousness by investors, regulators and ratings companies, resulting in the firm's collapse just over a month ...

◼ Jon Corzine, Obama bundler, Obama Wall Street point man, golden parachute - GOP.com (Oct 2011)