Corzine Charged: How We Treat the Elite When They Commit Crimes
John Corzine finally was charged with something almost a year and half after his firm, MF Global, looted customer accounts: A year and a half!
But wait, what's this? These are civil, not criminal charges. So he faces a fine and possible disciplinary measures regarding his ability to work in the financial markets. That's it. No jail time. And thus the elite continue to escape any serious consequences of the actions perpetrated by so many throughout this ongoing economic and financial crisis - a crisis that continues to haunt mostly middle and working class Americans with its high unemployment, stagnant and falling wages, and the resulting decline in standard of living (much of which may still lie in the future).
Let's look at what sort of "justice" will be meted out to Corzine by comparing his "use" of customer funds for the benefit of his firm - and therefore for his benefit, as CEO - with what would happen to any of us were we to "use" someone else's funds for our personal benefit. In other words, what would happen to you or me if we stole from someone else? Need I explain? Would we be excused from criminal charges and possibly face a civil lawsuit from our victim?
Obviously, we'd be arrested immediately upon the victim filing a complaint and law enforcement ascertaining our whereabouts. Was Corzine arrested? No.
Then we'd face criminal charges upon a hearing by a grand jury. Did Corzine appear before a grand jury? No. He did appear before a Congressional Committee, which was broadcast, a bit of which I watched. If you missed it, as you may imagine, his former colleagues (he was a Senator from New Jersey in the past) lobbed mostly nice, softballs for Corzine to hit back to them, all done in a "gentlemanly" manner. It was so disgraceful, I couldn't bear watching most of it. And that was that.
By this time, we'd be scheduled for trial on various felony charges for which we would face many years in prison, depending on the magnitude of the crime. Not being a lawyer, I'm going to guess that had we stolen over a billion dollars, as did Corzine, we'd face many, many years in prison. Perhaps we'd plea bargain with the court and settle for - I don't know - maybe 25 years in federal prison.
Will Corzine face prison? No. He's just now being charged with - again - a civil offense, one that bears no prison time, one that may result in his paying a fine and possibly being banned from participating as a professional in financial markets: boo-hoo. (Remember, Corzine is reportedly worth hundreds of millions. Do you think they'll fine him so much that he winds up a pauper? And if they do, do you think he won't find some employment in some capacity that pays him, well, quite well?)
But didn't the media report that much (although not all) of the money stolen was returned? So doesn't that mitigate what Corzine did? Well, what happens when a "normal" criminal (not one of the elite) steals and they catch him or her with the money? Does that mitigate the crime, just because the money can be restored to its rightful owner. The answer is no. So the fact the money Corzine stole is being returned - over a year and half later, by the way - has nothing to do with why he's being charged in civil and not criminal court. He's being charged thusly because he's one of the elite. Am I wrong in saying this?
So, anyway, that's how we treat the elites when they commit crimes. Meanwhile, I've got to get back to work to try an earn an honest living. See you next time.
But wait, what's this? These are civil, not criminal charges. So he faces a fine and possible disciplinary measures regarding his ability to work in the financial markets. That's it. No jail time. And thus the elite continue to escape any serious consequences of the actions perpetrated by so many throughout this ongoing economic and financial crisis - a crisis that continues to haunt mostly middle and working class Americans with its high unemployment, stagnant and falling wages, and the resulting decline in standard of living (much of which may still lie in the future).
Let's look at what sort of "justice" will be meted out to Corzine by comparing his "use" of customer funds for the benefit of his firm - and therefore for his benefit, as CEO - with what would happen to any of us were we to "use" someone else's funds for our personal benefit. In other words, what would happen to you or me if we stole from someone else? Need I explain? Would we be excused from criminal charges and possibly face a civil lawsuit from our victim?
Obviously, we'd be arrested immediately upon the victim filing a complaint and law enforcement ascertaining our whereabouts. Was Corzine arrested? No.
Then we'd face criminal charges upon a hearing by a grand jury. Did Corzine appear before a grand jury? No. He did appear before a Congressional Committee, which was broadcast, a bit of which I watched. If you missed it, as you may imagine, his former colleagues (he was a Senator from New Jersey in the past) lobbed mostly nice, softballs for Corzine to hit back to them, all done in a "gentlemanly" manner. It was so disgraceful, I couldn't bear watching most of it. And that was that.
By this time, we'd be scheduled for trial on various felony charges for which we would face many years in prison, depending on the magnitude of the crime. Not being a lawyer, I'm going to guess that had we stolen over a billion dollars, as did Corzine, we'd face many, many years in prison. Perhaps we'd plea bargain with the court and settle for - I don't know - maybe 25 years in federal prison.
Will Corzine face prison? No. He's just now being charged with - again - a civil offense, one that bears no prison time, one that may result in his paying a fine and possibly being banned from participating as a professional in financial markets: boo-hoo. (Remember, Corzine is reportedly worth hundreds of millions. Do you think they'll fine him so much that he winds up a pauper? And if they do, do you think he won't find some employment in some capacity that pays him, well, quite well?)
But didn't the media report that much (although not all) of the money stolen was returned? So doesn't that mitigate what Corzine did? Well, what happens when a "normal" criminal (not one of the elite) steals and they catch him or her with the money? Does that mitigate the crime, just because the money can be restored to its rightful owner. The answer is no. So the fact the money Corzine stole is being returned - over a year and half later, by the way - has nothing to do with why he's being charged in civil and not criminal court. He's being charged thusly because he's one of the elite. Am I wrong in saying this?
So, anyway, that's how we treat the elites when they commit crimes. Meanwhile, I've got to get back to work to try an earn an honest living. See you next time.
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