Do former senators go to jail?

Relax, I got your money out

I doubt it – not when a Democrat – controlled Senate would have to bring charges against one of its own.

John Corzine caught lying to Congress – transferred $200 million of client funds to J.P. Morgan to cover overdraft, then swore under oath he hadn’t done anything of the sort.

Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. (JPM) accounts in London, according to an e-mail sent by a firm executive.

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

Corzine testified that he never intended a misuse of customer funds at MF Global, and that he doesn’t know where client funds went.

“I did not instruct anyone to lend customer funds to anyone,”Corzine told lawmakers in December.

10 Comments

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10 responses to “Do former senators go to jail?

  1. Alex

    another thief.

  2. anon

    the castaways sang it best about corzine:

    Liar, liar, pants on fire
    Your nose is longer than a telephone wire

  3. Walt

    Dude –
    No. There is no doubt he was criminal, and broke the law. And I think there is no doubt he will not be sent to jail. He raises too much money for Barry and is too well connected. Powerful Democrats are above the law, and make laws that only apply to the little people. That would be all of us.
    Your Pal,
    Walt

  4. Greenwich Gal

    What good is he now? The “what have you done for me lately” scenario is always current. Throwing him under would actually help Obama’s reformer cred. He’s toast.

  5. Anonymous

    He is guilty of misusing customer funds and of lying in his testimony to Congress, but he will never, ever be called to account for it, just as he was never called to account as NJ Governor for ordering his state trooper/driver to drive at a speed of over 90 mi/hr so that he wouldn’t be late for a meeting with Don Imus (of all people) and which resulted in an accident in which his nibs was almost fatally injured and in which he put his accompanying staff in grave danger lest he be late for Imus.

    He is a member of the world’s most exclusive club, US Senators past and present, so no law enforcement agency will ever be able to lay a finger on him no matter what he does.

  6. Libertarian Advocate

    MF Corzine must know where all the many “bodies” are buried. Accordingly, no orange jumpsuit for him, EVER!

    Just another day in the Obamaphate.

  7. JRH

    It’s got nothing to do with the Senate, CF. Charges for perjury before Congress would be brought by the US Attorney for the District of Columbia.

    • I was thinking, JRH, that the Senate would have to refer a complaint to the DOJ. But either way, I can’t see Eric Holder going after one of his bosses’pals.

  8. JRH

    They went after Blagojevich, why wouldn’t they prosecute a former senator? Holder started his DOJ career in the public integrity unit going after corrupt pols of both parties, and I don’t buy the argument that this DOJ, whatever policy or legal disagreements you may have with it, would choose to avoid a prosecution where the evidence suggested that Congress was lied to, because the accused was a former senator (who endorsed Clinton in 08, for what it’s worth)

    • Holder has an established record of selective prosecution, including his quashing of the case involving armed Black Panthers intimidating voters in Philadelphia, the BATF gun running fiasco and a slew of others. If you’re curious, Google “Eric Holder selective prosecution” for a more complete picture. The Blogovich had served his purpose and was hence disposable – Corzine may be in that category too, but I’m betting his Goldman Sachs ties, as well as his demerkrat allies from New Jersey and the Senate, will shield him here. I’m perfectly wiling to be pleasantly surprised.